The report titled “NAFTA Crop Protection Industry Outlook 2016 – Surging R&D Expenditure on Agrochemicals” provides a comprehensive analysis of the various aspects such as market size of herbicides, fungicide, insecticides and bio-pesticides, micro-nutrients and adjuvant segments in NAFTA including the US, Canada and Mexico.
The report entails the market share of leading agrochemicals manufacturers in the NAFTA region along with company profiles. The report also discusses the future prospects and growth opportunities which are expected to drive the sales of crop protection industry in the next 5 years.
The crop protection market in NAFTA is one of the major industries in the region. Over the years the crop protection market in the region has experienced range of activities on account of several regulations and measures laid by the Environmental Protection Agency and other pesticides control agencies to restrict the usage of harmful pesticides in the crop fields and the food products. Moreover, the inevitable change in the weather has always subdued the cropping season and simultaneously has adversely affected the demand for crop protection products in the region in the past few years.
In 2011, the market grew by 4.3% to USD ~ million due to favorable growing season; strong herbicides demand as a result of stabilizing glyphosate prices and higher crop prices which supplemented the use of fungicides on maize crop and soybeans in the US. Herbicides have always dominated the crop protection market in the NAFTA region on account of increasing crop diseases and expansion in the plantation of corn and soybeans. Although the contribution have been declining since 2006 but the herbicides segment still dominates the crop protection market.
The crop protection market in the US grew at a CAGR of 0.6% from the period 2005-2011. The market in the US increased by ~% in 2011 to USD ~ million due to the better agricultural weather and stabilizing glyphosate prices which supplemented the demand for herbicides. Moreover, the increase in the crop prices in the year 2011 has subsequently increased the usage of fungicides on maize crop and soybeans plantation areas in the US.
The crop protection market in Canada is dominated by the herbicides segment, with a share contribution of around ~% in 2011. The segment over the years has been buoyed by the rising crop diseases and the increased plant areas of corns and several other crops. The fungicides segment of the market is the second largest segment contributing around ~% of the total agrochemical sales in Canada. The sales of this segment have increased from USD ~ million in 2005 to USD ~ million in 2011.
The crop protection market in NAFTA is majorly concentrated amongst few of the major producers who contribute around ~% of the total sales of the crop protection products in NAFTA. In 2011, Syngenta contributed around ~% of the total sales of crop protection products in NAFTA. The company has continued its dominance in the market in NAFTA with period improvement in the inventory level in the distribution channels and impelling demand for its herbicides products for corn and soybean.
The crop protection market in NAFTA is estimated to be worth ~ billion in 2016, with a majority of sales expected to generate from the US agricultural sector. It is expected that the fungicides segment will register the highest CAGR of ~% from 2012-2016, followed by ~% CAGR of the insecticides segment.
Key Topics Covered in the Report:
The market size of Global Crop Protection industry and the contribution of NAFTA.
The market size of the NAFTA Crop Protection Industry.
The market size of the crop protection market in the countries such as the US and Canada
Market segmentation of crop protection products such as herbicides, insecticides, fungicides and bio-pesticides, micro-nutrients and adjuvant on the basis of sales in countries such as the US and Canada
Trends and Development of the crop protection market.
Competitive landscape and a detailed company profile of the major producers of crop protection products in the NAFTA.
Future outlook and projections of crop protection products- herbicides, fungicides, insecticides and bio-pesticides, micro-nutrients and adjuvant on the basis of sales in the countries such as the US and Canada.