WILMINGTON, DE / ACCESSWIRE / September 12, 2022 / Transparency Market Research Inc. - The global crop protection chemicals market is expected to gain a value of US$ 106.7 Bn by 2031, according to a research report by Transparency Market Research (TMR). Besides, the report highlights that the market is projected to expand at a CAGR of 5.7% during the forecast period, from 2021 to 2031.
The assessment by TMR offers in-depth analysis of key factors such as growth drivers, growth opportunities, challenges, restraints, and recent developments in the crop protection chemicals market. In addition, it sheds light on the historical and ongoing trends of the crop protection chemicals market.
Crop protection chemicals are gaining traction as a cost-effective and effectual solution that helps in improving the crop yield as it prevents crops from harmful weeds and pests. Hence, a rise in the use of these products in the agriculture industry has been observed in the recent years, note analysts of a TMR study on the global crop protection chemicals market.
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The demand for different types of crop protection chemicals including insecticides, fungicides, and herbicides is being increasing in the recent years with advancements in the agriculture industry. Companies in the crop protection chemicals market are focusing on the development of products that address the current market needs and support the changes in specific animal and plant species that are associated to variations in precipitation and temperatures. Such factors are leading to growth of the crop protection chemicals market.
The development of different types of unwanted plants including weeds and grasses in the crop field can lead to compromising the yield and growth of desired crops. Hence, the removal of these unwanted plants is important. The popularity of herbicides, a class of pesticides, is being increasing in the recent years owing to their ability to effectively remove such undesirable plants from the fields. Hence, rising demand for herbicides is leading to profitable prospects in the global crop protection chemicals market.
Crop Protection Chemicals Market: Key Findings
- Over the period of past few years, the climatic conditions across the globe are being fluctuating. Moreover, the unbalanced rains in different regions of the world have resulted into potential fungal populations. This factor is expected to fuel the sales growth in the crop protection chemicals market during the forecast period. Hence, major market players are boosting their production capabilities in order to support the farmers in avoiding the fungal outbreaks.
- Crop protection chemicals are being utilized in stored grains, agricultural lands, and flower gardens. Companies operating in the crop protection chemicals industry are focusing on collaborating with scientists in order to develop advanced pesticides formulations and cater to the current market demands. Such initiatives are expected to fuel the crop protection chemicals market development during the forecast period.
Crop Protection Chemicals Market: Growth Boosters
- Changing climatic conditions across the globe are boosting the demand for crop protection chemicals
- Rise in the use of crop protection chemicals in horticulture and open field & protective cultivation is propelling the market
Crop Protection Chemicals Market: Key Players
Some of the key players profiled in the report are:
- Covestro AG
- BASF SE
- Jiangsu Changqing Agrochemical Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- FMC Corporation
- Meghmani Organics Ltd.
- Nissan Chemical Corporation
- NIHON NOHYAKU CO. LTD.
- Aimco Pesticides Ltd.
- Bharat Rasayan Ltd.
- Dhanuka Agritech Ltd.
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Crop Protection Chemicals Market Segmentation
- Others (including Nematicides and Molluscicides)
- Dosage Technique
- Others (including Deep Plowing and Crop Rotation)
- Oilseeds & Pulses
- Cereals & Grains
- Fruits & Vegetables
- Others (including Turf and Ornamentals)
- Open Field & Protective Cultivation
- Others (including Terrace Farming and Arboriculture)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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