Asia-Pacific Organophosphate Pesticides Market - Growth, Trends and Forecasts (2017 - 2022)
The Asia-Pacific organophosphate pesticide market has been estimated to grow at a CAGR of 6.7% during the forecast period from 2016 to 2021. Organophosphate is the general name of esters of phosphoric acid. Organophosphate group of chemicals have many domestic and industrial uses, though they are most commonly used as insecticides.
Organophosphates were initially developed as highly toxic biological warfare agents in 1940s. These products have become one of the most widely used pesticide around the globe. The organophosphate substances work by blocking the enzyme acetylcholinesterase causing nervous and respiratory damages that result in the insects/pests death.
Organophosphate pesticides market is driven by the need to increase crop yield and efficiency. The regionâ€™s population is growing rapidly, but the farmlands have been decreasing pushing farmers to increase their yields. New farming practices are adopted by farmers to increase crop yields. Genetically modified (GM) plants have helped farmers increase their yields coupled with the increased use of some pesticides like organophosphates. The increasing population in countries like China and India and shrinking farm lands around the region have necessitated the use of pesticides. These factors coupled with high performance and availability of organophosphates against insects and pests have led a continuous market growth for the industry. Product development, sustainable farming options and growing demand from developing regions are identified as the opportunity segments for the industryâ€™s future growth. However, the toxicity of chemicals towards environment leads to regulatory issues in many regions. High research and development costs and easy availability of alternative options may act as obstacles for market growth.
The market is classified based on the active ingredients, crop types and geography. Depending on active ingredients, the market is classified into Parathion, Malathion, Chloropyriphos, Diazinon, Dimethoate, Glyphosate, Methamidophos and Other organophosphates. For various crops, organophosphate pesticides are used as they are classified into herbicide, insecticides, fungicides and other pesticides; insecticide usage of organophosphate is the highest in the region. The market is also segmented by their usage in crops like cereals and grains, oilseeds, fruits and vegetables etc. Non-crop utilization of organophospahtes in turfs, ornamentals and others is also studied. By crops, cereals and grains together account for majority of pesticides demand. This can be attributed to the food safety and wide variety of uses of cereals and grains.
Asia-Pacific has the largest consumer base in the world. The rising disposable income levels, rising population and food security have made Asia-pacific, the region with maximum potential for growth. The emerging economies including China, India, Vietnam and Thailand are the major consumers of organophosphate pesticides for application in various cereal and grain crops.
Organophosphate pesticides gain popularity over low cost and ample availability compared to other classes of insecticides. The major companies in Asia-Pacific organophosphates pesticides market are DuPont, Adama, SinoHarvest Corporation, Syngenta, Bayer Cropscience AG, Yara Internationaletc. Acquisitions, joint ventures and investments are seen as the short term strategies for market growth.
Key Deliverables in the Study
Market analysis for the Asia-Pacific Organophosphate Pesticides Market, with region specific assessments and competition analysis on Asia-Pacific and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a Asia-Pacific and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Asia-Pacific Organophosphate Pesticides market on both Asia-Pacific and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to identify the regions that are still untapped