Global Organophosphate Insecticides Market - Growth, Trends and Forecasts (2017 - 2022)
The global organophosphate pesticide market has been estimated at USD 4.30 Billion in 2015 and is projected to reach USD 5.52 Billion by 2021, at a CAGR of 5.2% during the forecast period from 2016 to 2021. Organophosphate is the general name of esters of phosphoric acid. Organophosphate chemicals are originally produced by the reaction of alcohols and phosphoric acid.
Organophosphates are widely used owing to their multi-faceted application as fumigant, systemic or contact insecticide. The use of this substance as insecticide dates back to 1930s. The organophosphate substances work by blocking the enzyme acetylcholinesterase causing nervous and respiratory damages that result in the insects/pests death.
Like other agricultural inputs, organophosphate insecticides market is driven by the need to increase crop yield and efficiency to cater to the growing food demand. These factors coupled with high performance, efficiency and availability of organophosphates against insects and pests have led a continuous market growth for the industry. Product and technological innovations and growing demand from developing regions are identified as the opportunity segments for the industryâ€™s future growth. However, the acute toxicity of chemicals towards environment leads to regulatory issues in many regions. Along with regulatory issues, the increasing shift of consumers towards alternative and safer options mainly in developed world act as obstacle for the 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. 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. Market study indicated that Cereals and grains consumed the highest market in the use of insecticide products.
The market is also segmented geographically into North America, Europe, Asia-pacific, South America and Africa. Asia-Pacific accounts for more than 40% of the market share due to the growing usage of chemical insecticides in the region. North America and Europe followed the list. 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 Insecticides for application in various cereal and grain crops. More than 40 active organophosphate active ingredients are registered as insecticides in United States. Due to strong government control over the harmful effects of chemicals over humans and environment, the market in Europe would grow at a rather static pace.
Organophosphate insecticides gain popularity over low cost and ample availability compared to other classes of insecticides. Accounting for more than one-third of the global insecticides market share, the segment attracts great deal of investments from agricultural inputs companies. The major companies in global organophosphates Insecticides market are Dow Agrosciences, DuPont, Syngenta, Bayer Cropscience AG, BASFetc. Acquisitions, joint ventures and investments are seen as the short term strategies for market growth.
Key Deliverables in the Study
Market analysis for the Global Organophosphate Insecticides Market, with region specific assessments and competition analysis on global 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 global 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 Global Organophosphate Insecticides market on both global 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