Press release
Organophosphates Pesticides Market: Strong Growth Projected, Reaching $10.09 Billion by 2028.
Organophosphates Pesticides Global Market Report 2024
The Business Research Company presents an extensive market research report on the Organophosphates Pesticides Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The organophosphates pesticides market size has grown strongly in recent years. It will grow from $7.6 billion in 2023 to $8.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to widespread adoption in agriculture, replacement of other pesticides, cost-effectiveness, broad spectrum of activity, ease of application.
The organophosphates pesticides market size is expected to see strong growth in the next few years. It will grow to $10.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to demand for food security, emerging markets, integrated pest management (IPM), regulatory changes, climate change impact. Major trends in the forecast period include research and development, sustainability and eco-friendly alternatives, precision agriculture integration, biological pest control solutions, stringent regulatory measures.
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Key Market Players:
Major companies operating in the organophosphates pesticides market report are BASF SE, Dow AgroSciences LLC, Bayer AG, Hebei Chenguang Pesticide Co Ltd., Yara International ASA, Sumitomo Chemicals, The Mosaic Company, Syngenta Crop Protection AG, Solvay S.A., The Monsanto Company, DuPont de Nemours Inc., Sociedad Quimica y Minera, United Phosphorus Limited, FMC Corporation, Adama Agricultural Solutions, Nufarm Ltd., Chambal Fertilizers and Chemicals Ltd., Croda International PLC, Tata Chemicals Ltd., Piramal Agro Ltd., Ishihara Sangyo Kaisha Limited, Godrej Agrovet Ltd., Anhui Huaxing Chemical Industry Co Ltd., American Vanguard Corporation, Cheminova A/S, Valent USA LLC, Rallis India Ltd., Isagro SpA, Shandong Longlive Agrochem Co Ltd., Nantong Evergreen Agrochemical Co Ltd., Jiangsu Huai'an Chemical Industry Group Co Ltd., Zhejiang Xinyi Agrochemical Co Ltd., National Fertilizers Ltd.
Market Drivers:
The rise in the prevalence of crop infections is expected to propel the growth of the organophosphate pesticide market going forward. Crop infections refer to diseases that can affect plants through wounds, stomata, or pores. Organophosphate pesticides are used for controlling diseases that affect crops and making sure the crops are protected. For instance, in June 2021, according to a report shared by the Food and Agriculture Organization (FAO), a US-based specialized agriculture agency, in 2020, 40% of the global crop production lost annually due to pests and the rise in seed- and soil-borne diseases. These plant diseases cost the global economy approximately $220 billion each year, while invasive insects cost around $70 billion. Therefore, the rise in the prevalence of crop infection is driving the growth of the organophosphate pesticides market.
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The organophosphate pesticides market covered in this report is segmented -
1) By Type: Herbicides, Insecticides, Fungicides, Other Types
2) By Ingredients: Malathion, Diazinon, Glyphosate, Methamidophos, Dimethoate, Chloropyriphos, Parathion, Other Ingredients
3) By Application: Crop Based, Non-Crop Based
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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