Crop Protection Chemicals Market Is Expected To Grow At A CAGR Of 7.8% From 2015 To 2022: Grand View Research, Inc.

Global crop protection chemicals market size was 2,300.0 kilo tons in 2014 and is expected to grow owing to rapid population growth need for high yield crops and reduced arable or cultivable land. These chemicals deal with managing weeds, plant diseases and pests which damage forestry, agricultural crops, field crops, vegetable crops, fruit and horticulture crops.

Rising awareness regarding ill-effects of contaminated food on health has led to an increasing demand for crop protection chemicals. Increase in harmful species including weeds, nematodes and crop insects disrupting the growth of the crops is expected to augment the market demand significantly. The market is anticipated to reach USD 90.09 billion by 2022.

Herbicides market was valued at USD 18.11 billion in 2014. They are extensively used owing to their property of selective destruction of unwanted weeds leaving desired crops unharmed. In addition, increasing availability of organic herbicides as well as products exhibiting properties similar to natural plant hormones is expected to bolster growth.

Demand for insecticides was 805.4 kilo tons in 2014. Asia Pacific demand for insecticides was driven by rising usage of chemicals in emerging economies including India and China. Climatic conditions resulting in the presence of pests which adversely hamper crop yield has resulted in driving demand for the product in the region over the past few years and the trend is anticipated to continue over the forecast period.

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Further key findings from the report suggest:

• Fungicides accounted for about 22.7% of the industry volume in 2014. Favorable climatic conditions across major crop producing regions is one reason to propel the demand of the chemicals. Fungicides are available in forms of eradicants and protectants.
• Cereals accounted for 19.0 % of the crop protection chemicals industry volume in 2014, due to its increasing demand in Latin America and Asia Pacific, where traditional food grains and pulses are consumed in a larger amount. This trend is expected to continue owing to the rising demand for healthy foods and an exponentially increasing consumer base.
• Cotton was the largest application valued at USD 12.65 billion in 2014, owing to the rising demand of agrochemicals used in cotton production. Growing demand for cotton to manufacture apparel, technical textiles and home furnishings is expected to drive industry growth.
• Fruits &vegetables accounted for over 17.0% of the total revenue in 2014. Rising popularity of biopesticides which allow for direct consumption of crops will propel demand over the forecast period.
• North America dominated the global industry owing to high adoption of modern farming practices. The market is expected to grow at a CAGR of 7.3%, in terms of volume, from 2015 to 2022, due to increasing consumer awareness about side-effects of using synthetic pesticides.
• Asia Pacific crop protection chemical market was valued at USD 14.03 billion in 2014. Growing population coupled with rising demand for crops in emerging economies of the region is expected to drive growth over the forecast period. Moreover, several economies in the region rely heavily on the agricultural sector, which is expected to further augment demand.
• Crop protection chemical demand in Europe was 696.4 kilo tons in 2014. Growing demand for biopesticides on account of rising consumer awareness regarding the adverse effects of chemicals on the ecology is expected to drive growth.
• Key players in the market include Monsanto, American Vanguard, Bayer CropScience, Arysta LifeScience, BioWorks, Chemtura Corp, BASF SE, Cheminova, Dow AgroSciences, DuPont, Ishihara Sangyo Kaisha, FMC Corp, Isagro SpA, Makhteshim Agan, Marrone Bio Innovations, Nufarm Ltd, Sumitomo Chemical, Novozymes A/S, Monsanto, Natural Industries Syngenta AG, and Valent Biosciences.

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Grand View Research has segmented the global crop protection chemicals market on the basis of product, application and region:

Crop Protection Chemicals Product Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2022)

·         Herbicides

·         Fungicides

·         Insecticides

·         Others

Crop Protection Chemicals Application Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2022)

·         Fruits & vegetables

·         Cereals

·         Maize

·         Cotton

·         Rice

·         Others

Crop Protection Chemicals Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2012 - 2022)

·         North America

·         Europe

·         Asia Pacific

·         ROW

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Crop Protection Chemicals Market Size, Segmentation To 2022: Grand View Research, Inc.

The global crop protection chemicals market is expected to reach USD 90.1 billion by 2022, according to a new report by Grand View Research, Inc. Biopesticides is expected to drive demand for crop protection chemicals across the globe. Increasing adoption of biopesticides in North America and Europe owing to supportive regulations and high consumer awareness is likely to augment demand over the next seven years.

The market is highly consolidated with leading nine companies accounting for over 80% of the market share in 2014. Growing demand for the products particularly in ROW has led to contract manufacturing by various small scale regional enterprises. This trend is expected to continue over the forecast period owing to improved market penetration at a significantly lower cost.

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North America crop protection chemicals market revenue by application, 2012-2022, (USD Billion)

 

Further key findings from the report suggest:

• Insecticides were valued at over USD 20.17 billion in 2014. Insecticides accounted for the second largest market share owing to growing demand for the product primarily in Asia Pacific and ROW. Asia Pacific demand was driven by increasing use of the chemical by India and China. The region accounts for over 30% of the global arable land which is expected to have a positive impact towards market growth.
• Fruits & vegetables accounted for over 17.0% of the global market revenue in 2014. Technological advancements coupled with R&D have led to the availability of improved chemicals bearing low toxicity and high effectiveness. In addition, increasing adoption of biopesticides for direct consumption foods is expected to increase which in turn is likely to propel demand for these chemicals in fruits & vegetables application over the next seven years.
• Europe demand for crop protection chemicals was valued at USD 15.50 billion in 2014. The use of pesticides in Europe for crops is the largest, and is expected to witness significant growth on account of biopesticides demand in the region. Germany is the single largest European volume consumer of these products, accounting for over 19.0% in 2014 whereas Spain is expected to witness fastest growth over the forecast period.
• Key players in the market include Arysta LifeScience, American Vanguard, Bayer CropScience, BioWorks, BASF SE, Chemtura Corp, Cheminova, Chr Hansen, Dow AgroSciences, DuPont, FMC Corp, Ishihara Sangyo Kaisha, Isagro SpA, Makhteshim Agan, Monsanto, Natural Industries, Marrone Bio Innovations, Nufarm Ltd, Novozymes A/S, Syngenta AG, Sumitomo Chemical, and Valent Biosciences. 

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