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.
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)
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