Market Definition:
Fumigants are excessively used for protecting the crops. The population explosion has led to an exponential growth in demand for food crops. It has led to towering demand for agricultural fumigants and is expected to exhibit similar growth pattern in the years to come. Market Research Future has revealed in its latest study that the global Agricultural fumigants market is poised to mark a steady but constant CAGR during the forecast period 2017 to 2023.
Market Scenario and Growth Factors:
Fumigants help in increasing agriculture productivity which is likely to propel the expansion of the market in the years to come. In order to meet the rising crop consumption levels, farmers can’t afford to lose crops to pests. Thus, the agricultural fumigants market is expected to scale a decent growth pace in the years to come.
Farmers are getting increasingly aware of the advantages of agricultural fumigants. In addition, the support extended by the governments for ensuring crop protection is further expected to boost the growth pattern of the agricultural fumigants market over the next couple of years.
Revolutionized farming practices have paved the way for the adoption of fumigants to play a key role in the whole process of cultivation. Furthermore, the incidences of crop losses during the post-harvest season, transportation, etc. are poised to catapult the agricultural fumigants market on an upward trajectory. However, environmental hazards posed by these fumigants are forecasted to check the expansion of the market across the review period.
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Competitive Dashboard:
The noted players operating in the global agricultural fumigants market are BASF SE (Germany), Nufarm Limited (Australia), FMC Corporation (U.S.), The Dow Chemical Company (U.S.), ADAMA Agricultural Solution Ltd (Israel), Syngenta AG (Switzerland), and Reddick Fumigants, LLC (U.S.).
Industry News:
In April 2019, Agriculture Commissioner has launched its pilot website ‘farmingsafelynearschools.com’ for fumigant alert around schools. The website launch aims at being an educational guide about pesticide laws as well as imparting awareness about how to avoid long-term pesticide exposure.
In February 2019, Nigeria Agricultural Quarantine Service (NAQS) has protested against the ban on the use of methyl bromide as a pest control fumigant for crops imposed by the National Agency for Food and Drug Administration and Control (NAFDAC).
Market Segmentation:
By type, The Global Agricultural Fumigants Market has been segmented into phosphine, methyl bromide, chloropicrin, metam sodium, 1, 3-Dichloropropene, and others. At present, the methyl bromide segment holds a dominant position in the marketplace closely trailed by the phosphine segment. However, the adverse effects of methyl bromide on the environment have prompted its ban in many countries. Thus, the phosphine segment is likely to take over a substantial share of the agricultural fumigants market over the next couple of years.
By form, the agricultural fumigants market has been segmented into solid, liquid and gas. Among these, the liquid segment is leading the growth pattern of the market and is likely to accounts for a significant share of the market in the upcoming years. However, the gas segment is projected to strike a relatively steeper rise in the growth curve over the assessment period.
By application, the global agricultural fumigants market has been segmented into soil and warehouse. The warehouse segment is prognosticated to retain its forefront position through the forecast period.
Regional Analysis:
The global agricultural fumigants market, by region, has been segmented into North America, Europe, Asia Pacific and the Rest of the World (RoW). North America is expected to hold the most substantial share of the market across the assessment period followed by Europe. The U.S. and Canada are expected to contribute most substantially towards the development of the regional market. On the flip side, the strict regulations regarding the use of hazardous chemicals remain an impediment to market growth in these regions. Meanwhile, Asia Pacific has been forecasted to strike a comparatively higher CAGR during the review period.
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