Global Organophosphate Pesticides Market Highlights 2020-2029
The global organophosphate pesticides market is expected to grow at a considerable CAGR during the forecast period, i.e., 2021-2029. The major driving factor for the growth of the market is the wide range of applications, low price, and easy availability of organophosphate pesticides. In order to meet the rising need for food for the growing population, the farmers are implementing new farming practices, including increased use of chemical pesticides, which is estimated to boost the growth of the market. Moreover, ongoing research and experiments to reduce the toxicity and improve the efficiency of these pesticides is projected to boost the growth of the market.
The global organophosphate pesticides market is segmented on the basis of type into herbicide, insecticide, fungicide, and others, out of which, the insecticide segment is expected to gain the highest revenue during the forecast period owing to the increasing requirement of these chemicals to protect the crops from maggots and bugs. On the basis of ingredients, the market is further branched into malathion, glyphosate, methamidophos, chlorpyrifos, dimethoate, parathion, and others. Amongst these, the malathion segment is foreseen to hold the largest market share by the end of 2021, owing to its application in mosquito, ticks, and ant repellants. On the basis of application, the global organophosphate pesticides market is segmented into oil seeds, grains & cereals, turf & ornamental grass, and others, out of which, the cereals & grains segment is projected to hold a substantial market share during the forecast period owing to the growing demand for food crops. CLICK TO DOWNLOAD SAMPLE REPORT
However, rising concerns regarding the pollution of the aquatic ecosystem caused by pesticides are anticipated to act as a restraint in the growth of the global organophosphate pesticides market.
Global Organophosphate Pesticides Market Regional Synopsis
On the basis of regional analysis, the global organophosphate pesticides market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these, the market in North America is estimated to obtain a major share over the forecast period on the back of increasing export-oriented agricultural practices, as pesticides prolong the life of the crop after harvesting. The USA in particular, is estimated to be one of the biggest consumers of pesticides, as the nation recorded total pesticides use of around 4oo thousand tons in the year 2018. Moreover, organophosphate pesticides hold a major share of the total pesticides used in the U.S.
The market in the Asia Pacific is anticipated to attain considerable CAGR throughout the forecast period, owing to the notable utilization of pesticides in the agriculture sector. Increasing agricultural activities will raise the demand for pesticides, which is expected to promote the market growth. According to the World Bank, as of 2019, agriculture and fishery sector valued 16.291 % of the total GDP in the South Asia region. Moreover, increasing pesticides usage in major economies, such as, China, is projected to significantly boost the market growth in the region. The pesticides use in China amounted to more than 1.4 million tons in 2018. Along with protecting the crops from pests, pesticides also prolong the life of the crop, increase crop yield, and significantly reduce post-harvest losses. This property is highly beneficial in the hot and humid regions of the Asia Pacific, which is estimated to promote the market growth.
The global organophosphate pesticides market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.
Our in-depth analysis of the global organophosphate pesticides market includes the following segments:
- Oil Seeds
- Grains & Cereals
- Turf & Ornamental Grass
- Growing Requirement for Broad-Spectrum Pesticides
- Increase in Demand for Food Crop Owing to the Growing Population
- High Level of Toxicity of Organophosphates
Top Featured Companies Dominating the Market
- Adama Agricultural Solutions Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Spectrum Brands, Inc.
- Bayer AG
- Nufarm Limited
- BONIDE Products LLC
- FMC Corporation
- AMVAC Chemical Corporation
- BASF SE
- Rallis India Limited
- UPL Limited