Market Segmentation
The global microencapsulated pesticides market has been categorized on the basis of product, crop type, application, technology, and region.
By product, the global microencapsulated pesticides market has been classified into herbicides, insecticides, fungicides, rodenticides, others.
On the basis of crop type, the global microencapsulated pesticides market has been divided into cereals and grains, oilseed and pulses, fruits and vegetables, turf and ornamental.
Based on technology, the global microencapsulated pesticides market has been segmented into physical, chemical, physio-chemical, and others. The physical segment is further classified into centrifugal extrusion and vibrational nozzle. The chemical segment is further bifurcated into polymerization and interfacial polycondensation. The physio-chemical segment is further divided into ionotropic gelation and supercritical fluid precipitation.
By application, the global microencapsulated pesticides market has been bifurcated into agricultural and non-agricultural.
The global microencapsulated pesticides market has been analyzed across five major regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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Competitive Analysis
ECOSAFE NATURAL PRODUCTS INC. (Canada), Syngenta (Switzerland), Monsanto Company (US), FMC Corporation. (US), ADAMA (Israel), BASF SE (Germany), Bayer AG (Germany), BotanoCap (Israel), Reed Pacific Pty Limited (Australia), Arysta LifeScience Corporation (US), McLaughlin Gormley King Company (US), GAT Microencapsulation (Austria), and Belchim Crop Protection (Belgium) are some of the key players operating in the global microencapsulated pesticides market.
Market overview:
Pesticides are chemical compounds used to control and kill pests, including insects, fungi, and rodents. Pesticides used in excess may harm plants, surrounding ecosystem, and human health. Microencapsulated pesticides are liquid or dry pesticides enclosed in a protective coating made of plastic, starch, or other material. They are mixed in water and sprayed on crops. After spraying, the capsule breaks and the pesticide is released gradually, which helps in the controlled delivery of pesticides and has an effective action on targeted pests.
Controlled release of pesticides through microencapsulation improves the efficiency of agricultural operations, which is expected to be the major market driver. Sustainable approach to reducing environmental and health risks and issues regarding Maximum Residue Levels (MRLs) in exported agricultural products can be resolved through microencapsulation technology. Use of microencapsulated pesticides reduces soil infertility by targeted spraying on pests which further boosts the market growth. Furthermore, increasing adoption of the product, rise in R&D activities, favorable government initiatives towards integrated pest management practices, and surging awareness about benefits of microencapsulated pesticides are expected to drive the market growth. Increasing implementation of professional pest control management is further expected to provide significant growth opportunities to the key players in this market.
However, technical restraints such as storage issue and high manufacturing costs of the product are projected to hinder the market growth. Additionally, the reluctance of farmers to adopt microencapsulated pesticides is further anticipated to hamper the market growth.
Regional Analysis
Geographically, the global microencapsulated pesticides market has been studied across the five regions —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The European market held the largest market share in 2017 and is projected to grow at the highest CAGR in the coming years owing to government initiatives on consumption of controlled spraying of pesticides and increased focus on product innovation. Germany is the major contributor in the region owing to ban on certain toxic pesticides and due to the presence of major companies such as Bayer AG and BASF SE serving microencapsulated pesticides in nearby countries. Austria, France, Belgium, and Italy are other regions contributing to regional market growth.
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