ALBANY, New York, Feb. 3, 2020 /PRNewswire/ -- Global fumigation products market – valued at USD 820 million in 2018 – is set to witness annual growth rates of nearly 4% through 2027, according to a new study carried out by Transparency Market Research (TMR). In terms of volume, global sales are likely to surpass 1.17 million tons, with renewed focus on agricultural resource protection sustaining demand. To address the complex challenges, especially loss prevention during international trade, leading players plan to leverage digital technologies. According to Transparency Market Research, the existing challenges pertaining to toxicity and harmful environmental impact of fumigants continue to create challenges for widespread adoption.
"The fumigants product market will maintain steady growth, however, there is an urgent need for manufacturers to address the growing concerns pertaining to environmental impact. In markets where regulations are lax, manufacturers will need to take a proactive approach to use less-hazardous products in their offerings. This shift is necessary as a number of end-users are now evaluating the labels much more diligent as compared to the past," says Transparency Market Research.
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Key Findings of the Fumigation Products Market Study
- Preference for solid fumigants will remain unabated – solid fumigants are easier to handle, and relatively less hazardous than gaseous fumigants
- Aluminium phosphide is the highest selling fumigant – its effectiveness against a range of agricultural products such as flour, tea, and grains continues to fuel demand
- The growing organic sales represent a lucrative avenue for fumigation product manufacturers, as end-users expect organic ingredients to be used across the value chain
- Leading players are planning to invest in digital technologies to boost entire fumigation process
- Increase in the number of warehouses is likely to provide an impetus to fumigant product sales during the forecast period
Browse in-depth Table of Contents of Fumigation Products Market
- 170 Tables
- 70 Figures
- 272 Pages
View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/73509
Fumigation Products Market: Key Drivers
- Increasing demand for high-quality agricultural produce – consumers are making a conscious decision to eat healthy
- Stringency in quality control measures during international trade
- Growing investment in infrastructure projects owing to urbanization – fumigation of newly constructed residential spaces is creating opportunities
- Increasing focus of government and not-for-profit organizations to store surplus food for crisis situations is creating necessity for holistic fumigation
Key Restraints for Fumigation Products Market
- Environmental impact of fumigation products continues to be one of the biggest challenges for widespread adoption
- Ambiguity over ingredients used in manufacturing fumigation products continues to create skepticism among end-users
- Volatility of raw materials used for making fumigation products create challenges to realizing consistent profit margin
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Fumigation Products Market: Region-wise Analysis
- The US continues to be the leading market for fumigation products globally; North America recorded sales of nearly 264 thousand tons of fumigation products in 2018
- Asia Pacific is emerging as a lucrative market for fumigation products, driven by growing investment in infrastructure projects, and increasing number of warehouses
- Considering lax regulations in Asia Pacific and Latin America, the fumigation products market in these regions has a high presence of small scale players.
According to Transparency Market Research, the global fumigation products market continues to be fragmented. In many markets, local players who offer fumigation products at extremely low prices hold sway. Lack of effective regulation in these markets has allowed mushrooming of a large number of informal players. Transparency Market Research, in its analysis, has cast a wide net, and profiled players across countries and spectrum. Some of the players profiled in the study include Rentokil Initial plc, Solvay S.A., Detia Degesch GmbH, Industrial Fumigant Company LLC, Royal Agro Organic Pvt. Ltd., UPI-USA, National Fumigants, Corteva Agriscience, JAFFER Group of Companies, and AMVAC Chemical Corporation.
Transparency Market Research has segmented the global fumigation products market on the basis of form, treatment method, end-user, and region.
Fumigation Products Market Form Outlook (Revenue, USD Million; Volume, Thousand Tons 2017-2027)
Fumigation Products Market Treatment Method Outlook (Revenue, USD Million; Volume, Thousand Tons 2017-2027)
- Magnesium Phosphide
- Aluminum Phosphide
- Sulfuryl Fluoride
- Carbon Dioxide (CO2)
- Others (Methyl Bromine and Calcium Cyanide)
Fumigation Products Market End-user Outlook (Revenue, USD Million; Volume, Thousand Tons 2017-2027)
- Others (Commercial Complex and Pharmaceutical Companies)
Fumigation Products Market Region-wise Outlook (Revenue, USD Million; Volume, Thousand Tons 2017-2027)
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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