NEW YORK, Feb. 14, 2017 /PRNewswire/ -- "Phosphine fumigation market projected to grow at a CAGR of 5.49% from 2017 to 2022"
The phosphine fumigation market is projected to reach USD 698.0 million by 2022 at a CAGR of 5.49% from 2017. The market is driven by factors such as increase in awareness about advanced modes of application of fumigation technology, increasing insect population due to climatic changes, and phasing out of methyl bromide fumigants. There is high growth potential in developing markets such as China and India, which provides new development opportunities for market players.
"Aluminum Phosphide accounted for the largest market share in 2016."
The aluminum phosphide segment is projected to grow at the second highest CAGR from 2017 to 2022. The aluminum phosphide segment is projected to grow at the highest CAGR during the forecast period. It is used as an alternative for methyl bromide fumigant and is comparatively less costly than methyl bromide. The demand for aluminum phosphide is projected to increase owing to the rapidly growing agrochemical industry. Furthermore, the increased agriculture production has led to increased warehousing facilities, which has fueled the demand and usage of aluminum phosphide to protect the stored agriculture produce.
"Warehouse segment projected to lead the market by 2022."
Warehouses are generally used to store food grains or processed food which is highly susceptible to insect infestations and this is one of the main reasons for the usage of phosphine fumigants which has led to warehouse segments being one of the fastest growing segment in the agricultural phosphine fumigation industry. The warehouse segment in the phosphine fumigation market is projected to grow at the highest CAGR from 2017 to 2022.
"Europe market projected to grow at the highest CAGR between 2017 and 2022."
Europe is projected to be the fastest-growing regional market for phosphine fumigation. Growing production of cereals in the country and post-harvest losses of agricultural commodities due to improper storage technologies has presented several market opportunities for the consumption of phosphine fumigants in the region. Countries in this region are focusing on sustainable agriculture to meet the demand for high-quality crops.
The breakdown of primaries on the basis of company, designation, and region, conducted during the research study is given below.
By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
By Designation: Director Level – 22%, C Level – 28%, and Others – 50%
By Region: North America – 18%, Europe – 25%, Asia-Pacific – 45%, and RoW – 12%
Key players are as follows:
- BASF SE (Germany)
- Cytec Solvay Group (U.S.)
- Adama Agricultural Solutions Ltd. (U.S.)
- Rentokil Initial Plc (U.K.)
- United Phosphorus Ltd. (U.S.)
Other players with a strong presence in this market are as follows:
- Industrial Fumigant Company LLC (U.S.)
- Kenvos Biotech Co., Ltd. (China)
- Nippon Chemical Industrial Co., Ltd. (Japan)
- Ikeda Kogyo Co. Ltd (U.S.)
- DEGESCH America, Inc. (U.S.)
This research report categorizes the phosphine fumigation market based on type, application, form, and region. Based on type, the market has been segmented into aluminum phosphide, magnesium phosphide, calcium phosphide, and others. Based on application, the market has been segmented into soil, and warehouses. Based on form, the market has been segmented into liquid and solid phosphine fumigants. Regional segmentation of the market includes North America, Europe, Asia-Pacific, and RoW (Rest of the World).
Reasons to buy this report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), and company profiles, which together comprise and discuss the basic views on the competitive landscape—emerging and high-growth segments of the global phosphine fumigation market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following:
- Market Penetration: Comprehensive information on fumigants offered by top players in the global market
- Product Development/Innovation: Detailed insights on upcoming fumigation techniques, research & development activities, and new product launches in the phosphine fumigation market
- Market Development: Comprehensive information about lucrative emerging markets
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global phosphine fumigation market
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global phosphine fumigation market
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