The Global Organophosphate Pesticides Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Organophosphate Pesticides Market is estimated to be USD 7.28 billion and predicted to rise to USD 9.41 billion with a CAGR of 5.27%. The market is segmented by Ingredients (Malathion, Diazinon, Glyphosate, Methamidophos, Dimethoate, Chloropyriphos, Parathion, Other Organophosphates), by Type (Herbicide, Fungicide, Insecticide, Others), and by Application (Crop Based-Oil seeds, Fruits & Vegetables, Grains & Cereals; Non Crop Based-Turf & Ornamental Grass and Others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the Global Organophosphate Pesticides market is majorly driven by factors such as wide range of pest control applications of organophosphate pesticides, lower price, and easy availability. Another major factor driving the market is the globally increasing population, which leads to the need for increase in crop yield. However, safer alternatives, volatile economies, and various environmental and health hazards linked with the chemicals from these pesticides are the major restraining factors for the market.
Diazinon Organophosphate Pesticide is leading the ingredient segment in terms of consumption. However, Chloropyriphos is projected to be the fastest growing sub-segment during the forecast period. By application, grains & cereals lead the global market for Organophosphate Pesticides and this trend is anticipated to remain during the forecast period.
Asia Pacific has been leading the global Organophosphate Pesticides market and this trend is projected to stay in the near future. North America is the second major consumer of Organophosphate Pesticides, followed by Europe. Demand for Organophosphate Pesticides in North America and Europe is expected to grow at a slow rate largely owing to resilient government control, due to the dangerous effects of chemicals over humans and environment. Growing demand for Organophosphate Pesticides in South America is anticipated to offer huge growth prospect for the market.
Accounting for approximately 30% of the global pesticides market share, the Organophosphate Pesticides market draws great deal of financing from agricultural input companies. The major companies dominating this market are Monsanto, DOW Agriscience LLC, Bayer Cropscience, Syngenta AG, BASF, Dupont, American Vanguard Corp, FMC Corporation, Adama Agricultural Solutions Ltd. and Nufarm.
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