Crop Protection Chemicals Market

Crop Protection Chemicals Market Size & Growth 2022 - 2027:

The Crop Protection Chemicals market is expected to reach about USD 70.57 billion by the end of 2021, and it is estimated to garner a compound annual growth rate of about 5.15% during the forecast period of 2022 - 2027. The market value is expected to increase more during the outlook period as there is an increase in demand for food security for the growing population, along with the decline in arable land across the world.

Covid-19 impact on Crop Protection Chemicals market:

Due to the Covid-19 pandemic, all the companies are suffering from production and demand, supply chain and market disruption, and also financially. Companies have halted their manufacturing units due to the strict lockdown regulations imposed by the government authorities.

Since March 2020, all the companies have closed and due to the financial crisis and have terminated almost all the employees as they are not in a position to pay their salaries to them and facing severe financial problems.

Recently almost all the countries have lifted the lockdown and given permission to the companies to restart their manufacturing units with strict rules and regulations. So, the companies have restarted their manufacturing units which in turn started the supply chain of their products and helped them to recover from their financial crisis.

In the field of Crop Protection Chemicals s market, the companies related to the market were expecting that the market will gain some profits in the upcoming two to three years with an increase in the need for food security for the growing population and increasing of investments by the organizations for the innovations of the technological advancements. Furthermore, increasing demand for biopesticides along with increasing acceptance for integrated pest management by the farmers helps the market to grow further during the forecast period.

Crop Protection Chemicals Market Drivers:

One of the major driving factors of the Crop Protection Chemicals Market is the rise in crop loss due to various pest attacks that helps the growth of the worldwide market. Increasing usage of crop protection chemicals is another major driving factor of Crop Protection Chemicals equipment market revenue rate in the next few years.

Technological advancements in the field of agriculture are one of the major growth factors of the Crop Protection Chemicals market. An increase in the number of manufacturers is also helping the growth of the Crop Protection Chemicals Market. Increasing awareness about the crop protection chemicals among the cultivators is also a growth factor of these chemical businesses.

Challenges:

Strict regulations from the government authorities are one of the major restraints impeding the growth of the Crop Protection Chemicals market. The availability of alternative devices in the market is another major limitation affecting the expansion of the market.

REPORT COVERAGE:

Market Segmentation:

Crop Protection Chemicals Market – By Type of Origin:

• Synthetic

• Biopesticides

Among these, the synthetic crop protection segment holds the major share of the market owing to the rising demand for biopesticides by the farmers as they are less toxic and environment friendly.

Crop Protection Chemicals Market – By Type:

• Insecticides
• Herbicides
• Fungicides
• Nematicides
• Acaricides
• Rodenticides
• Disinfectants
• Fumigants
• Mineral oils
• Sulphuric acid
• Sulphur and petroleum oils

Among these, the herbicides segment holds the major share of the market due to high crop loss by harmful weeds and the high effectiveness of herbicides to reduce crop loss.

Crop Protection Chemicals Market – By Crop Type:

• fruits & vegetables
• cereals & oilseeds
• sugarcane
• plantation crops
• turfs and ornamentals

Crop Protection Chemicals Market – By Form:

• Liquid
• Solid

Crop Protection Chemicals Market – By Application:

• Soil treatment
• Foliar spray
• Seed treatment
• Chemigation and fumigation

Regional Analysis:

The Crop Protection Chemicals market is elaborated in various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe region (Italy, UK, France, Germany, Spain and Rest of Europe), Asia Pacific region (India, Japan, China, Australia and rest of Asia Pacific).

Among these regions, Asia Pacific holds the major share of the market of Crop Protection Chemicals owing to the increasing usage of crop protection chemicals and rise in crop loss due to various pest attacks in some countries like India, China, Japan, Indonesia, and Thailand. Also, the increasing adoption of fabric printing in emerging countries like India and China is helping the growth of the revenue rate in the Asia Pacific area.

North America region holds the second-largest share of the market of Crop Protection Chemicals due to the increase in investments for the new technological advancements in the field. Europe region is expected to increase the market growth during the forecast period owing to the increase in the number of manufacturers in the nations like Germany, Italy, and Spain.

Key Players:

Some of the key players of the Crop Protection Chemicals market are The Dow Chemical Company (US), BASF SE (Germany), E I Du Pont De Nemours and Company (US), Sumitomo Chemical Co Ltd, (Japan), and Syngenta AG (Switzerland). Most of the companies exploring in new regions by innovating new products, collaborating with other companies and acquisitions across the globe to increase the demand in the market and also to improve the revenue of their company.