The Latin America Slow and Controlled Release Pesticides Market was worth US$ 0.24 billion in 2023 and is anticipated to reach a valuation of US$ 0.44 billion by 2029 and is predicted to register a CAGR of 10.74% during 2024-2029.
Market Overview:
The slow and controlled release type of pesticides comprises retarding biological agents that release their constituents into the environment over a specific time period. These agents are bonded physically and chemically in a compound polymer mix by utilizing numerous techniques. The various systems to form this formulation include migration management by membranes, migration management without using membranes, monolithic system, and laminate system.
The rising consciousness and concern about the diverse side effects of using more than the required amount of chemical-based pesticides, both on the health of the people and on the environment, is the main factor driving the growth of the market globally. Increasing demand for food crops to be met, due to the rapid population growth, is also a key driver behind the market growth.
Market Segmentation:
Based on market share, the Agriculture segment occupied the first position in this segmentation in 2023. The Agriculture segment is calculated to account for at least six-tenths (60%) of the market share in the period forecast.
As per the contributed market share, the Herbicide segment proved to be the dominating segment of the market. The growing demand for herbicides on account of expanding agriculture is supposed to be a positive influence on the market growth of the Herbicides segment.
Market Regional Analysis:
Other countries. Because of the growing consciousness about environment-friendly farming in the region, the Latin America market is predicted to grow at a high and steady growth rate shortly.
Market Key Players:
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