Fumigation Products Market to Record an Exponential CAGR by 2027 - Transparency Market Research

Volume sales in the fumigation products market were recorded at ~662 thousand tons in 2018, and the uptake in their demand in residential, agricultural, and storage applications is estimated to drive sales worth ~1.17 million tons by 2027.

Also, prior to the transportation of agricultural products, there is high demand for fumigants in warehouses. A hawk-eye on hygienic and infection-free food products in the food & beverage industry has passed the stress onto the agricultural sector to ensure the quality of raw materials, which has substantially led to the rise in the fumigation practice.

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Analyzing the future scope of demand, players in the fumigation products market are seen outperforming their competitors on the basis of 'convenience'. The availability of fumigation products in various forms - solid, liquid, and gaseous - offers ease of use to end users, which has been a driving force for sales in the fumigation products market.

Rising Awareness Regarding False Claims of Fumigation Products to Impede Sales
The very nature of fumigants is volatile and toxic. Despite this, several companies in the fumigation products market claim to have produced fumigation products that are poisonous to only insects and not humans. Such false claims lead to the reckless use of fumigants, which affects the health of pest control service providers. Incidences related to the ill-effects of these products on human health have been coming to light, which has been limiting the true sales potential of the fumigation products market.

Also, regular exposure to fumigants for a prolonged period of time could cause acute and chronic disorders in humans, which has instigated the shift of pest control service providers towards natural and less hazardous disinfectants such as fungicides, insecticides, and herbicides. Manufacturers of these harmless products further attract sales by offering cost benefits to end users, which is projected to upkeep a medium-to-high level of threat of substitutes in the fumigation products market.

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North America Strengthens its Hold on the Fumigation Products Market
In 2019, North America is projected to account for sales of ~264 thousand tons worth of fumigation products, and likely to record a volume CAGR of ~3% during 2019-2027. A significant part of this growth is attributable to the presence of stringent government regulations in the U.S. and Canada, which ensures that only quality products penetrate the fumigation products market. In addition, a significant number of warehouses in the region, used for the storage of agricultural products, are likely to upkeep the demand for fumigants during the forecast period.

It is worth noting that, the growth of the Asia Pacific fumigation products market is evincing an exponential trajectory, on account of the urban sprawl, which is generating demand for pest control from warehouses as well as residential areas.

Since the technology used for the development of fumigation products is relatively expensive, North America is home to a substantial number of fumigation product market players, while Asia Pacific is seen as a cash cow for investment. Given the number of consolidation opportunities, the overall degree of competition in the fumigation products market will be high during the forecast period.

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Analysts’ Viewpoint

Authors of the report opine that, the fumigation product market will register a sluggish CAGR of ~4% during the forecast period of 2019-2027. Since sound technical knowledge is a must to survive in this fragmented landscape, new entrants face difficulties investing high upfront working capital into the business, which is likely to create an entry barrier in the fumigation products market. Well-established market players tend to set up efficient and organized transportation systems to ensure the delivery of their products in the stipulated time.

Though available in abundance, the prices of raw material such as ammonia, aluminum, yellow phosphorus, and magnesium are volatile in nature. Hence, players in the fumigation products market can enter into long-term partnerships with suppliers to avoid fluctuations in raw material prices.

Fumigation Products: Description

Fumigation is a method of pest control. The fumigation process involves the elimination of pests by using fumes of certain chemicals. Fumigation can help eliminate nematodes, bacteria, fungi, weeds, and other hard-to-remove pests. It is one of the most reliable methods of pest control for grain storage and cargo. Fumigation products are highly toxic chemicals that can eliminate pests during any part of their lifecycle stages, from eggs to full-grown adults.
Chemicals that are used for fumigation include magnesium phosphide, aluminum phosphide, sulfuryl fluoride, and carbon dioxide (CO2). These fumigation chemicals can be used in a wide variety of applications, from domestic fumigation to fumigation for large cargo transit and grain storage.

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