Agricultural Fumigants Market Analysis, Growth, Share, Trends, and Forecast 2022

The report "Agricultural Fumigants Market by Product Type (Methyl Bromide, Phosphine, Chloropicrin), Crop Type (Cereals, Oilseeds, Fruits), Application (Soil, Warehouse), Pest Control Method (Tarpaulin, Non-Tarp, Vacuum), and Region - Global Forecast to 2022", The global agricultural fumigants market is estimated to be valued at USD 1.59 Billion by 2017 and is projected to reach USD 1.94 Billion by 2022 at a CAGR of 4.10% during the forecast period. The global agricultural fumigants market is expanding with considerable growth potential over the next five years. The growth of this market can be attributed to the inclination of consumers toward improving the quality of agricultural output, changing farming practice, and upgraded storage technology.

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The phosphine segment, on the basis of various product types, accounted for the largest share in 2016. The phosphine segment is mainly driven by few factors; phosphine-based fumigants are easily available, they are easy to handle, and they are comparatively less harmful in nature than other fumigants, especially methyl bromide. It is also coupled with the increasing awareness about its good penetration ability, easy availability, and is popular for its reliability to control pests in granaries. The chloropicrin segment, on the basis of product type, accounted for the second-largest share in 2016, owing to its multifunctional nature in controlling various pests such as nematodes, weed seeds, insects, bacteria, and soil-borne fungus diseases. The warehouse application of the agricultural fumigant market holds the largest share due to the increasing usage of agricultural fumigants in food stock warehouses in the North American and European regions

North America accounted for the largest share in 2016 due to the presence of key crop protection chemical manufacturers, increasing need for sustainable agriculture and the higher efficiency of fumigants in terms of application, and presence of some of the most protective farming regulations in the region.

The food & beverage market in the Asia-Pacific region is currently undergoing a transformation in response to rapid urbanization and the liberalization of foreign direct investment in the food sector. Asia Pacific is projected to be the fastest-growing region from 2017 to 2022 due to gradual increase in awareness and knowledge about using fumigation as a crop protection technique, increase in the availability of fumigant products, and the growing number of manufacturers in the region.

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Licenses or special permits required to handle fumigation services and increasing labor costs and other expenses are posing challenges to the agricultural fumigants market. For instance, the practice of pest control in Florida is strictly regulated under the provisions of the Structural Pest Control Act, Chapter 482, Florida Statutes (F.S.). This law is administered and enforced by the Department of Agriculture and Consumer Services in the State. Further, safety testing requires substantial investments. Large investments in R&D activities, laboratories, and research equipment, volatile nature of fumigants accumulation of residue during fumigation, and hiring trained professionals also pose a barrier for this market.

The market is dominated by key players such as BASF (Germany), Syngenta (Switzerland), ADAMA (Israel), Dow Chemicals (US), and FMC (US). Other players include UPL (India), Degesch (US), Nufarm (Australia), American Vanguard (US), Nippon (Japan), Arkema (US), and Rentokil (UK). The key players have adopted strategic developments such as new product launches, expansions & investments, mergers & acquisitions, agreements, collaborations, joint ventures, and partnerships to explore the market in new geographies.

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