Market Overview:
Organophosphate Pesticides Market Size was worth USD 7.28 Billion in 2019 and estimated to be growing at a CAGR of 5.27%, to reach USD 9.41 billion by 2024. In terms of importance, organophosphate insecticides have about 30% of the world market share of insecticides by type. These pesticides are used for various kinds of crops, such as oilseeds, fruits and vegetables, and cereals. They work by blocking the enzyme acetylcholinesterase, which in turn causes nerve and respiratory damage, resulting in the death of the pest. These pesticides also have a relatively low price and are widely applied.
Market Drivers and Restraints:
The global market of organophosphate pesticides is expanding due to factors such as the full range of applications, lower prices and easy availability. Another critical factor that drives the market is the growing world population, which results in the need to increase efficiency. However, the leading market limitations are the safest alternatives, unstable economies and the various environmental and health risks associated with these pesticides.
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Report segmented as
By Ingredients:
Malathion,
Diazinon,
Glyphosate,
Methamidophos,
Dimethoate,
Chloropyriphos,
Parathion, Other Organophosphates
By Type:
Herbicide,
Fungicide,
Insecticide
By Application:
Crop Based-Oil Seeds,
Fruits & Vegetables,
Grains & Cereals;
Non Crop Based-Turf
Ornamental Grass
Geographical Analysis:
The market has been geographically distributed in North America, Europe, Asia-Pacific and the rest of the world. Asia-Pacific is leading the global market for organophosphate pesticides and this trend is expected to remain in the near future. North America is the second major consumer of these pesticides, followed by Europe. Demand in North America and Europe is expected to grow slowly, mainly due to robust government control based on the dangerous effects of chemicals on humans and the environment.
Important Market Players:
Accounting for around 30% of the international pesticides market share, the Organophosphate Pesticides market draws boundless deal of financing from agricultural input corporations. The major companies dominating this market are Monsanto, DOW Agriscience LLC, Bayer Cropscience, Syngenta AG, BASF, Dupont, American Vanguard Corp, FMC Corporation, Adama Agricultural Solutions Ltd. and Nufarm.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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