01 March, 2019 - Global crop protection chemicals market is anticipated to witness a steady growth on account of modernisation in agricultural techniques. The overall market is projected to expand at a healthy CAGR over the forecast years. These substances are specially designed to either destroy the pests or keep them away from crops. These compounds work on push-pull methods. Push method consists of those chemicals that keep pests away from the yield. On the other hand, pull techniques involve those that destroy pests by attracting them towards the yield.
Target pests include insects, weeds, microbes, worms, birds, and mammals. Constantly increasing food demand, due to growing population, has driven many sectors associated with the agriculture industry including crop protection chemical market. Crop compounds variety has witnessed a significant rise in the recent years leading to a rise in agricultural harvest.
The necessity for increasing per hectare yield coupled with growing pest free food demand is expected to drive the global industry demand over the forecast period. These chemicals help boost the overall efficiency, which is also projected to have a positive impact on the global market growth. Moreover, these compounds offer better timelines and flexibility for crop harvest. Growing need to increase per hectare yield and gain high margins due to rising food demands across the globe is expected to fuel industry growth
In addition, wide acceptance of modern farming techniques along with government support and initiatives encouraging the usage of these methods is also likely to augment the market development in the years to come. Going by the Darwin’s theory of evolution, many insects show chemical resistance, which is highly effective. This factor may hinder the growth of this market. Moreover, adverse health effects associated with these chemicals, such as irritation and breathing problems, may also restrain market expansion. Moreover, some chemicals drift in water bodies and have been one of the leading causes of water pollution in recent years.
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Dichlorodiphenyltrichloroethane (DDT), one of the primary insecticide, is banned in several countries as the compound is carcinogenic in nature. Modern agricultural techniques implementation in emerging economies including India and China provide great opportunities for the market. Increasing consumer awareness, especially in the rural areas due to educational programs related to agro-business, provides bright prospects for the global industry. Trends have shown that local municipalities have been using pesticides to control the spread of diseases including malaria, flu, and plague.
Such alternative applications of these chemicals are expected to drive global market further. The global industry can be segmented by chemical type into herbicides, fungicides, insecticides, and others. Herbicides are used for destroying plants and weeds that weaken the crop by extracting its nutrients. Fungicides are used to protect crops getting infected by fungi. Insecticides help in protecting the plant from insects. Other categories include avicides for birds, rodenticides for rodents, and miticides for mites.
Asia Pacific led the global industry and the trend is expected to continue over the forecast period mainly due to the presence of agricultural economies. Emerging economies including India, Indonesia, and China are projected to provide excellent opportunities for the market growth. SAARC countries including Pakistan, Sri Lanka, and Bangladesh are scheduled to show decent growth mainly on account of government funding in these regions.
It was followed by North America and Europe on account of modern agricultural practices introduced and practiced in these regions. These regions are projected to show a notable growth over the forecast period. South America and Africa has shown significant consumption of these products in recent years on account of developing agrarian sector in Brazil, Egypt, and South Africa.
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