The Global Crop protection chemicals market size is estimated to be valued USD 63.7 billion in 2020 and is projected to reach a value of USD 74.1 billion by 2025, growing at a CAGR of 3.1% during the forecast period. The growth of this market is attributed to the increasing need for food security of the growing population.
COVID-19 Impact on the Crop protection chemicals market:
COVID-19 impact on crop protection chemicals is low to moderately affected. There have been disruptions in the supply chain and distribution channels to transport pesticides across different countries and continents. However, the production has been slightly affected, and the production is reduced for upto 20% across Asia Pacific and Europe.
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Opportunity: Rapid growth in the biopesticides market and organic agriculture
Biopesticides are pesticides produced naturally, with minimum usage of chemicals. Since growing environmental considerations and the pollution potential and health hazards from many conventional pesticides are on an increase, the demand for biopesticides has been rising steadily in all parts of the world. Biopesticides are growing in popularity, due to their less or non-toxic nature as compared to synthetic pesticides. Moreover, biopesticides provide more targeted activity to desired pests, unlike conventional pesticides that often affect a broad spectrum of insects, birds, and mammalian species. Further, biopesticides can be very effective in small quantities, offering lower exposure, and are quickly decomposable; they leave virtually no harmful residue after application.
The herbicides segment of the Crop protection chemicals is projected to account for the largest share, by type
Herbicides are substances that kill or inhibit the growth of unwanted plants (weeds). They are widely used in weed control, which helps in enhancing crop productivity and quality of output. Herbicides help in reducing soil erosion and increase soil fertility and crop yield. They are used to control or kill unwanted plants and are often known as weed killers. The use of herbicides in agroecosystems may change composition of weed populations. In wildlands, herbicides may increase the diversity of native species. Threats to plant biodiversity caused by habitat loss and invasive species are far greater than threats by use of herbicides. Some non-selective pesticides are used in weed waste grounds, industrial sites, railways, and railway embankments. Herbicides are heavily consumed in the agricultural sector and in landscape turf management.
The market for the liquid segment is projected to account for the largest share during the forecast period, by form
By form, liquid is the segment that accounted for the highest market share as well as the highest growth rate in Crop protection chemicals. The growing requirement of liquid forms of crop protection chemical products, mainly in the foliar spray and seed treatment modes of application, is driving the market for liquid forms of crop protection chemicals. They are also cheaper than solid formulations and are easily mixed with any other crop enhancer or protecting product, increasing the demand for the same.
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Asia Pacific is the fastest-growing market during the forecast period in the global Crop protection chemicals
The key markets in the Asia Pacific region include China, India, Japan, and the Rest of Asia Pacific. The Asia-Pacific, a region where agricultural systems and technologies vary from one country to another, consists of about 40%, that is, 600 million hectares of the global crop area. Rice cultivation and the predominance of small-scale manufacturers are widely seen across all the countries of the Asia-Pacific region.
The increasing awareness about pesticides and continuous technological advancements are factors contributing to the growth of this market. In addition to this, the growing demand for crops and rising cultivation in the countries of Asia-Pacific have forced agribusiness companies to expand their supplier and manufacturing base in the region.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in Crop protection chemicals. It consists of the profiles of leading companies such BASF SE (Germany), The Dow Chemicals Company (US), Dupont (US), Sumitomo Chemical Co., Ltd (Japan), Syngenta AG (Switzerland), Bayer Cropscience AG (Germany), FMC Coropration (US), NufarmLimited (Australia), Adama Agricultural Solutions (Israel), Verdesian LIfescineces (US), Bioworks Inc. (US), Valent US (US), Arysta Lifescince Corporation (US), American Vanguard Corporation (US), Chr. Hansen (Denmark), Corteva Agrisciences (US), UPL Limited (India), Jiangsu Yangnong Chemical Group Co Ltd (China), Agrolac (Spain), Lianyungang Liben Crop Science Co. Ltd. (HongKong), Nanjing red sun co. ltd (China), Kumiai Chemicals (Japan), Wynca Chemicals (China), Lier Chemicals (China), Simpcam Oxon (Italy).
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