Agricultural Fumigants Market
Overview
Agricultural Fumigants Market Size
was valued at USD 1.95 billion in 2022. The agricultural fumigants market
industry is projected to grow from USD 2.0 Billion in 2023 to USD 2.8 billion
by 2032, exhibiting a compound annual growth rate (CAGR) of 4.40% during the
forecast period (2023 - 2032). Increasing crop damages due to transportation
and increasing side-effects on crops are the key market drivers enhancing the
market growth. Agricultural
fumigants play a crucial role in modern farming practices by effectively
managing pests, diseases, and weeds. These chemical compounds are used to
sterilize soil, control nematodes, eliminate pathogens, and ensure healthy crop
growth. This article explores the importance, types, application methods,
benefits, and safety considerations associated with agricultural fumigants.
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The increasing focus to reduce
post-harvest losses of crops is expected to be one of the significant factors
that can boost the agricultural fumigants market 2023. The surging requirement
to enhance the crop productivity is expected to augment the agricultural
fumigants industry in the assessment period. The rise in food demand of the
expanding populace is anticipated to act as a significant catalyst that can
support the market expansion. Furthermore, the growing need for effective
techniques in the modern farming is expected to fuel the agricultural fumigants
market growth.
On the flip side, the toxicity
associated with the product is projected to hamper the market growth during the
review period. However, growing crop losses during the transportation, along
with aforementioned factors can counter the impeding factor that can augment
the market.
Market Segmentation
The market segmentation of the
global agricultural
fumigants market is done by types,
application, and form.
The types-based segments of the
global agricultural fumigants market are methyl bromide, phosphine,
chloropicrin, 1, 3-Dichloropropene, metam sodium, and others. Among all
segments, the methyl bromide market is expected to acquire the most significant
market share during the assessment period. However, the environmental damage
caused due to the usage of methyl bromide can bring a negative impact on the
market.
The application-based segments of
the global agricultural fumigants market are warehouse and soil. Among all, the
warehouse segment is likely to dominate the market during the review period.
The form-based segments of the
global agricultural fumigants market are liquid, solid, and gas. Among all
segments, the liquid fumigants segment is anticipated to dominate the market
during the forecast period. On the other hand, the gaseous agricultural
fumigant segment is expected to expand at the fastest rate due to its ability
to reach insects in stored places.
Regional Analysis
Based on the region,
the global agricultural fumigants market is segmented into North America,
Europe, Asia-Pacific, and the Rest of the World (RoW).
According to the analysis conducted
by MRFR, North America is anticipated to dominate the global market during the
review period owing to the growing adoption of modern farming techniques. The U.S.
and Canada are likely to acquire significant market value during the review
period.
Europe is anticipated to witness
moderate market growth during the forecast period. The region is projected to
expand owing to the growing awareness in the coming period. The U.K. is likely
to acquire significant market value in the assessment period.
The APAC region is expected to be
the fastest-growing market during the review period owing to the presence of emerging
countries like India and China. The growing engagement of people in farming is
expected to be a crucial factor that can drive the regional market in the
coming period. In addition, the application of fumigants in India and other
evolving countries is gaining prominence owing to its benefits, which can
create various opportunities for market expansion during the review period.
The Middle East region is
anticipated to acquire the last position owing to the presence of
underdeveloped economies during the forecast period.
Key Players
Prominent players of the global
agricultural fumigants market are The Dow Chemical Company (U.S.), BASF SE
(Germany), Nufarm Limited (Australia), ADAMA Agricultural Solution Ltd
(Israel), FMC Corporation (U.S.), Reddick Fumigants, LLC (U.S.), and Syngenta
AG (Switzerland).
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