Aluminum Phosphide Market size is poised to reach USD 268 Million by the end of 2036, growing at a CAGR of 3% over the projected period, i.e., 2024-2036. In the year 2023, the industry size of aluminum phosphide was over USD 181 Million. The rising need for pesticides as a result of rising food prices will fuel the market for aluminum phosphide. As per a report, the global pesticide consumption in 2021 was close to 3.54 million metric tons.
In light of population increase, insect resistance, and climate change, there is a growing need for crop protection chemicals to improve agricultural productivity and food security. Also, technological breakthroughs and advancements in the agriculture sector are other aspects that contribute to the growth of market.
The use of aluminum phosphide for pest control in metropolitan settings has increased as a result of urban sprawl. To maintain safe and hygienic surroundings, there is an increasing demand for efficient pest control solutions as more structures and facilities are built.
Aluminum phosphide is predicted to see a rise in demand due to its use in a variety of public health applications and structural fumigations, including private residences, businesses, and public buildings.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 3% |
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Base Year Market Size (2023) |
~ USD 181 Million |
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Forecast Year Market Size (2036) |
~ USD 368 Million |
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Regional Scope |
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Application (Warehouse Fumigation, Trees Fumigation)
The warehouse fumigation segment in the aluminum phosphide market is estimated to hold the largest share of 56% during the projection period. Grain bins, silos, and warehouses are among the storage structures where fumigation is frequently used to manage pests.
It is frequently used in agriculture and food processing to keep rodents and insects away from stored goods like grains, seeds, and other items. Warehouses offer a contained area where fumigants, such as aluminum phosphide, can be effectively used to control pests.
Because of how well this strategy works for handling huge quantities of stored products, it is frequently adopted. Additionally, to safeguard human health, agriculture, and the environment, several nations have stringent pest management laws. To achieve these requirements, fumigation is frequently necessary. Therefore, altogether these factors are escalating the growth of the warehouse fumigation segment.
End-use (Herbicides, Pesticides, Rodenticides, Semiconductor)
The aluminum phosphide market for the pesticides segment is expected to hold a share of 46% during the projected period. The growing demand for effective pest control solutions in agriculture is accelerating the growth of the segment.
In addition to this, the growing consumption of pesticides is propelling the growth of the segment. As per a report, it is predicted that global agricultural pesticide consumption will rise slightly, from around 4.3 million metric tons in 2023 to a value of approximately 4.41 million metric tons in 2027.
Moreover, integrated pest management (IPM) is becoming increasingly popular since it provides a more environmentally responsible and sustainable method of controlling pests. Furthermore, growing awareness of crop protection chemicals and the increasing number of pests and insects in warehouses and other crop storage rooms as a result of biotic and abiotic causes are propelling the market growth in the pesticides segment.
Our in-depth analysis of the global aluminum phosphide market includes the following segments:
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Form |
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Application |
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End-use |
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Asia Pacific Market Analysis
The aluminum phosphide market in Asia Pacific is expected to account for the largest share of 36% during the foreseen period. The market is expanding due to several factors, including the rise in major corporations' investments in emerging countries, and advancements in the agricultural industry.
The Asia Pacific region is expected to lead the market in the next ten years due to notable advancements in the domain of food security. Grain storage facilities are being planned for countries such as China, Vietnam, India, and the Philippines.
For instance, according to the world’s largest food grain storage program in India, a godown with a 2000-ton capacity will be built in each block as part of this plan. Through the cooperative sector, the program seeks to increase India's foodgrain storage capacity by 700 million tonnes.
Furthermore, the market expansion can contribute to the growing agricultural industry in the region. These factors are bolstering the market growth in the region.
North American Market Statistics
The North American aluminum phosphide market is poised to hold a share of 28% by the end of 2036. The market is expected to grow in the upcoming years due to advancements in technology and a rise in the need for pesticides in the region.
Further, the high demand for semiconductors paved the way for the market. For instance, sales of semiconductors worldwide reached USD 574.1 billion in 2022, a 3.3% rise from 2021. Also, greater prospects for market expansion are being created by the major corporations' increased investments in grain storage facilities.
The agricultural research and development industry will grow as a result of increased efforts and financial support by the governments in the region.
Author Credits: Smruti Ranjan, Rajrani Baghel
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