"Pesticides protect plants from attack by various pests. The control pests ensure better yield and a good harvest. Herbicides, insecticides, fungicides, are different types of commonly used pesticides"
The world agricultural pesticide industry has been transformed by several years of robust growth coupled with new environmental regulations and changing crop mix trends. Increased farming of biofuel crops and the use of genetically modified (GM) seeds caused pesticide sales in Argentina and Brazil to more than double between 2006 and 2011, with Brazil surpassing the US to become the largest market in the world. China became the fourth largest national market as rising pesticide production in the country improved domestic pesticide availability and facilitated sharply increasing utilization rates.
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Presently, pesticides are the only effective means to protect crops and plants from being contaminated or destroyed by pests. Although pesticides are used on almost all crops, certain crops which are more prone to pests or which are valuable in terms of revenue cannot be expected to be grown at a significant yield without pesticides. Rice, wheat, and corn, fruits and vegetables, sugarcane, and cotton are few such crops. The increased use of pesticides in region, for the protection of these crops is projected to result in the growth of the North American pesticides market.
Crop protecting external agents such as herbicides, fungicides, and insecticides are used to kill unwanted plants and pests. The global crop protection chemicals market has been witnessing a lot of technological advancements and developments over the past few years. The changing buyers’ preferences, stringent environmental regulations, changing weather conditions, increased agricultural trade, and improved farming practices are triggering innovations and research efforts of the crop protection chemicals industry. The global market for crop protection chemicals, owing to its significant impact not only on human health, but also on the environment, is a highly regulated market. Major chemicals such as glyphosate (herbicide), atrazine (herbicide), chlorpyrifos (insecticide), and many others are constantly under review, and face the risk of being phased out or outright banned if more environment-friendly alternatives are available. This report provides a comprehensive outlook on the global crop protection chemicals market with respect to various regions, product types, as well as applications.
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Herbicide resistance continues to be an issue and is driving demand for new formulations with multiple active ingredients, which will command higher prices going forward. While insecticide demand will benefit from the adoption of higherpriced, safer products, growth will be restrained by environmental concerns, the use of IPM techniques, and the popularity of insect-resistant crop varieties. Fungicide demand will be affected by two trends in product mixes: the switch to synthetic fungicides over commodities in developing regions; and the need for more sophisticated, effective products in developed nations.
Several companies such as Bayer CropScience Ltd. (Switzerland), Monsanto Company (U.S.), The Dow Chemical Company (U.S.), and Arysta LifeScience (U.S.) are investing in this market, in order to gain higher profits and increase their share in the North American pesticides market. These companies are adopting numerous market strategies including innovative product development, partnerships, mergers & acquisitions, and expansion of existing facilities.
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