Crop protection chemicals are used to prevent agricultural crops which are an important activity in the chemical industry. The major chemicals for crop protection include insecticides, fungicides, and herbicides. Herbicides are a type of chemicals that prohibits or destroys the development of unwanted plants i.e. weeds. Insecticides are used that destroys arthropod pests i.e. mites & insects. And Fungicides are used to kill or protect the development of pathogenic fungi. All these are known as pesticides. The crop protection chemicals market is witnessing a high growth due to the increasing demand for healthy and harmful organism free crops, growth of bio pesticides market and better productivity and timeliness etc. The crop protection chemicals market is expected to grow at the CAGR of 7.2% and revenue is estimated to reach approximately $85759.65 million during the forecast period of 2016-2022. The major factors that are helpful for driving these markets are the need to provide food security to the world, increasing demand for healthy and harmful organism free crops and better productivity & timeliness etc.
Growth of bio pesticides market would be the key factor which drives the growth of crop protection chemicals market. A huge growth is being witnessed in the bio pesticides market due to innovations in bio-pesticides technology. The global bio-pesticides market is expected to grow higher with the CAGR of 19.4% and the revenue is estimated around $7.14 billion by 2022. A systematic and extensive research has contributed in the development of formulation techniques, the capacity to produce bio pesticides through large production, enhanced shelf life and storage capabilities, and enhance application methods. Another factor such as updated knowledge among end users has contributed to the enhanced adoption. Thus, increased demand of bio-chemicals market is very helpful to enhance crop protection chemicals market. Another major factor is better productivity and timeliness which is also helpful in driving this market. There is a rise in productivity due to various factors such as use of machinery, better varieties and use of fertilizers. Pesticides are an important part of the process because it decreases losses from the diseases, insect pests and weeds that work for decreasing the amount of harvestable production. It is stated that there has been a considerable economic loss that may be suffered without utilization of pesticides. So, crop protection chemicals provide better productivity in less time that is helping to drive this market, In Asia pacific region it is forecasted to be the highest region in the crop protection chemicals market due to rising population, transformation in farm practices and technology etc. Although, there are many factors which drive the market but still this market has some restraints too, such as negative effects on human health, ban by regulatory authorities, resistance developed by some pests etc. and it is going to be a major key factor that hinders the growth of the market. There are some challenges of this market which are being faced by the crop protection chemicals market that are strict rules and laws and evolution of biotechnology.
The global crop protection chemicals market is segmented on the basis of type, targeted use and crop type. Among type, the market is segmented into synthetic crop protection chemicals and natural crop protection chemicals. Among targeted use, it is segmented into insecticides, herbicides, pesticides and adjuvant. On the basis of crop type, it is segmented into cereals and gains, oilseeds and pulses, fruits and vegetables. On the basis of targeted use, herbicides have the largest market share amounting to 43% in 2015 due to its rising usage of GMO crops. Among crop type, fruits & vegetables have the largest market share due to rising bio-pesticides market.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific and ROW. Asia pacific was the dominating region for crop protection chemicals with approximately 25% share in 2014. And it is nearly followed by North America. There is an increasing population and solid growth in agricultural sector in APAC countries such as India and China that are helpful to drive the demand for the crop protection chemicals market in Asia pacific region. North America is the second largest in this market due to rising adoption of modern farm practices, high innovations in this market and highest market share in herbicides, cereals and gains market. So, North America is also a major region that contributed for the growth of this market.
Some of the major players of the market include FMC, Novozyme, Valent Biosciences, BASF, Dupont, Adama agricultural solutions, Nippon soda co. ltd, Crystal crop protection, Biostad, syngenta and so on. Mergers, product launches, Innovation and expansion are some of the key strategies adopted by the market players. On 31st March 2016, Valent Biosciences Corporation and Rizobacter enter R&D cooperation agreement for bio rationals. This partnership strategy will help to accelerate research and development of agricultural sustainable solutions and commercialization & development of new microbial products for the root zone.
