Crop Protection Chemicals Market Research 2020 by Industry Growth, Business Opportunities, Top Manufacture, Industry Share Report, Status, Regional Outlook and Global Forecast to 2026

The global crop protection chemicals market was valued at USD 57.5 billion in 2018 and is projected to register a CAGR of 3.4% during the forecast period (2019-2024). The herbicides accounted for the largest share of 42.7% in the market, followed by fungicides and insecticides with 28.4% and 24.3% in 2018, while nematicides are the fastest-growing market over the forecast period.

Market Overview-

The crop protection chemical industry has been transforming over the years, with robust growth, coupled with changing crop mix trends, and environmental regulations. Growing population, declining arable land, food security, and the need for augmented agricultural productivity are the significant factors, which are driving the demand for higher agricultural output, thus augmenting the growth of the pesticide industry, globally. Increasing R&D cost, low per capita use of crop protection chemicals in several developing economies and ban in pesticides in certain regions are the major factors, which act as restraints to the market.

Crop protection chemicals constitute a class of agrochemicals, which are used for preventing the deterioration of crops from insects and pest infestation. The report comprises a detailed analysis of synthetic pesticides, with more than 80% share in the crop protection chemicals market, and biopesticides accounted for a comparatively minute share. The report has been segmented on the basis of application such as grains and cereals, pulses and oilseeds, fruits and vegetables, turf and ornamentals, and commercial crops.

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The prominent players in the global Crop Protection Chemicals market are:  

TE Connectivity Ltd, Honeywell International Inc., UTC Aerospace Systems, Meggitt PLC, Ametek Inc., Thales Group, General Electric Company, The Raytheon Company, Safran Electronics & Defense, Curtiss-Wright Corporation, Zodiac Aerospace, Hydra-Electric Company, PCB Piezotronics Inc, Avidyne Corporation, Precision Sensors

High Adoption of Biopesticides

Owing to the escalating demand for food safety and quality, biopesticides are gaining popularity over their synthetic counterparts. Relatively low R&D costs associated with the former is also a major factor that is driving the biopesticides market. Being less detrimental to humans, animals, and environment, highly target-specific with no danger to non-target species, and biopesticides' capability to rapidly decompose without leaving any noxious residues are the other principal factors, which are contributing to the growth of the market. Valent Biosciences Corporation, Koppert BV, Certis USA LLC, Bayer Cropscience AG, and Syngenta are the leading companies, which are operating in the biopesticides market.

The lower residual toxicity levels of biopesticides against synthetic crop protection chemicals make them ideal inputs to be used in organic agriculture. The demand for organic fruits and vegetables has been witnessing an upward trend over the years, which in turn, led to the increment in the prominence of organic farming with the area under organic farming accelerated from 48.8 million ha in 2014 to 69.8 million ha in 2017 across the globe. Therefore, this has boosted the demand and production of biopesticides.

Asia-Pacific Dominates the Global Market

China, Japan, India and Australia accounted for more than 80% share in the crop protection chemicals market in Asia-Pacific in 2018. In China, the Ministry of Agriculture introduced the Zero Growth Policy of Pesticides and Fertilizers by 2020 in 2015, in order to phase out the use of synthetic pesticides and promoted the use of bio-based and organic pesticides. Furthermore, China, being the largest producer of cotton, has increased the adoption of GMO cotton, which also resulted in a substantial reduction in the use of chemical pesticides across the country.

In India, synthetic pesticides have been extensively used for alleviating the loss of crops, due to the high incidence of pests and diseases. Major factors driving the Indian pesticides market include higher demand for food grains, limited availability of arable land, along with elevating exports, growth in horticulture and floriculture, and increasing public awareness regarding pesticides and biopesticides. However, in Japan, companies are highly focused on conducting R&D activities, which is the backbone of the introduction of new and advanced pesticide products. For instance, in April 2017, Syngenta had launched an insecticide Minecto Duo for vegetable crops. Also, in 2018, BASF had co-developed a new insecticide, Inscalis. with a Japanese company, Meiji Seika Pharma Co. Ltd, in order to protect crops from critical piercing and sucking insect pests.

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North America to Dominate the Crop Protection Chemicals Market

- In North America, the usage of commercial and business aircraft, as well as the military aircraft, is increasing, owing to factors such as the high influx of immigrants, working professionals, major tourist attraction, and to increase air defense. This has led to an increase in the frequency of aircraft running, thereby ascending the scheduled maintenance.
- Especially, the US aerospace manufacturers are very competitive internationally. The industry contributed USD 143 billion in export sales to the US economy. The inward stock of FDI into the US aerospace manufacturing industry totaled more than USD 21 billion, depicting the scope for aircraft sensor manufacturers in the region.
- Moreover, the United States is making deals with other emerging economies or countries to sell high-end military aircraft, which are likely to boost the market growth over the forecast period.

Crop Protection Chemicals Market Report Highlights
The report provides a detailed analysis on current and future market trends to identify the investment opportunities
Market forecasts till 2026, using estimated market values as the base numbers
Key market trends across the business segments, Regions and Countries
Key developments and strategies observed in the market
Market Dynamics such as Drivers, Restraints, Opportunities and other trends
In-depth company profiles of key players and upcoming prominent players
Growth prospects among the emerging nations through 2026
Market opportunities and recommendations for new investments
Reasons to Purchase this Report

-Identify the current and future prospects of the global Crop Protection Chemicals market in the developed and emerging markets

-Analyse various perspectives of the market with the help of Porter’s five forces analysis

-Information about the growth of the various material, type, and application that are expected to dominate the market

-Regional and country analysis of the market

-Identify the latest developments, market shares, and strategies employed by the major market players

-3 months analyst support, along with the Market Estimate sheet (in Excel)

In conclusion, Crop Protection Chemicals market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the Crop Protection Chemicals Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research report from every individual sector which will be helpful to understand the industry data in the most precise way.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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