Nematicides Global Market Report 2023

NEW YORK, March 3, 2023 /PRNewswire/ -- Major players in the nematicides market are Adama Agricultural Solutions Ltd., Nufarm Limited, Bayer Crop Science AG, Certis USA L.L.C, Corteva Agriscience, Crop IQ Technology, Horizon Group, Isagro Group, Marrone Bio innovations Inc., Valent USA, Syngenta, The Dow Chemical Company, UPL Limited, Chr. Hansen, Agri Life, Bioworks Inc., and Brandt Consolidated Inc.

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The global nematicides market grew from $1.43 billion in 2022 to $1.54 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The nematicides market is expected to grow to $1.93 billion in 2027 at a CAGR of 5.8%.

The nematicides market consists of sales of natural nematicides and chemical nematicides.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

The nematicides market consists of sales of nematicides by entities (organizations, sole traders, and partnerships) that are chemically derived compounds that kill or hurt nematodes.Nematicides have generally been broad-spectrum toxicants with high volatility or other qualities that facilitate soil movement.

These are used to kill parasitic worms including roundworms and threadworms.

North America was the largest region in the nematicides market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the nematicides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The main types of nematicides market are fumigants, bio nematicides, organophosphates, carbamates, and others.The term "fumigants" refers to highly volatile nematicides.

They move quickly through the air gaps between soil particles, but if soil pore spaces or pore necks are filled with water, their mobility may be limited.The different forms include granular or powder, liquid and involve various crop types such as fruits and vegetables, oilseeds, cereals and grains, and other crops.

It is used in several applications including fumigation, soil dressing, drenching, seed treatment, and others.

The increasing demand for high-value crops is expected to propel the growth of the nematicides market going forward.High-value crops are those that give the farmer a better net return per hectare than high-yielding winter rice.

This includes vegetables, potatoes, hybrid maize, fruits, and spices.Certain export criteria, particularly for high-value agricultural products, necessitate the removal of nematodes from various crops.

For instance, according to The Economic Times, an India-based newspaper, the export demand for vegetables has increased by roughly 20% in the first quarter of 2020-21 compared to the pre-COVID level (2019). Moreover, according to Vegetable Growers Weekly, a US-based news magazine, fresh produce such as frozen fruits and vegetables, shelf-stable fruits, and shelf-stable vegetables generated $7.1 billion in sales in May 2021, up to $790 million from the previous year. Therefore, the increasing demand for high-value crops is driving the growth of the nematicides market.

Technological advancements have emerged as a key trend gaining popularity in the nematicides market.Technological advancement is a discovery of knowledge that advances technology.

Major companies operating in the nematicides sector are focused on developing new technological solutions to reinforce their position.For instance, in May 2020, Syngenta, a Switzerland-based agrochemical company introduced the TYMIRIUM technology platform brand, a new nematicide and fungicide technology that's being developed for seed and soil applications.

TYMIRIUM technology, which is based on the active component cyclobutrifluram, provides long-term protection against a wide range of nematode pests and illnesses across all significant crops and geographies.

In May 2021, ADAMA Ltd., an Israel-based manufacturer and distributor crop protection products, acquired a 51% stake in Jiangsu Huifeng Bio Agriculture Co., Ltd crop protection formulation and protection facilities. The acquisition is expected to provide ADAMA a controlling interest in one of the top crop protection producers in China, thereby enhancing ADAMA's commercial presence in the Chinese crop protection industry. Jiangsu Huifeng Bio Agriculture Co., Ltd is a China-based company involved in research and development and production of agrochemical products for an undisclosed amount.

The countries covered in the nematicides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The nematicides market research report is one of a series of new reports that provides nematicides market statistics, including nematicides industry global market size, regional shares, competitors with a nematicides market share, detailed nematicides market segments, market trends and opportunities, and any further data you may need to thrive in the nematicides industry. This nematicides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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