The Latin America nematicides market size is expected to reach USD 256.50 million in 2024 and reach USD 328.92 million by 2029, growing at a CAGR of 5.1% from 2024 to 2029.
Nematicides are pesticides used to kill various types of insects like Nematodes, Fungi, bacteria, and weed seeds. Nematicides fumigants are usually expensive, and they are used mostly for high-value crops where nematode problems are severe. Nematicides usage will increase tremendously in the future owing to the increasing demand for healthy food.
Nematicides increase the fertility of the soil, aside from protecting plants from parasites. This trait is driving the market significantly owing to the decreasing agricultural land due to growing industrialization. The increasing prevalence of infections and rising investments from administration bodies for agricultural purposes are driving the Nematicides Market. However, Environmental Hazards caused by synthetic Nematicides are restricting the growth of the market.
The fumigant segment dominated the market in 2020 owing to its use for high-value crops.
Latin America is expected to show significant potential during the forecast period owing to the increase in industrialization and growing demand for healthy food.
The key players in this market are BASF SE, Bayer CropScience AG, Dow Chemical Company, E.I. Du Pont De Nemours and Company, and Monsanto Company. The other companies which are profiled are Syngenta AG, FMC Corporation, Adama Agricultural Solutions Ltd., Ishihara Sangyo Kaisha Ltd., and Valent Corporation.
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