December 10, 2020
According to the report titled ‘Global Nematicides Market Size study, by Type (Fumigants, Carbamates, Organophosphates, Bionematicides, Others), Mode of Application (Fumigation, Drenching, Soil Dressing, Seed Treatment), by Nematode Type (Root Knot, Cyst), Form (Granular, Liquid) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global nematicides market was worth USD 1.21 billion in 2019 and is anticipated to record a 3.5% CAGR during 2020-2027.
Decline in fertile & arable land, and surge in demand for better crop yields to meet food requirements of population worldwide are primarily driving the growth of global nematicides market. As per credible sources, production of food grain in India was 251.54 million tons in 2015-16, which rose to 275.11 million tons in 2016-17, while area under cultivation rose from 123.22 million hectares in 2015-16 to 129.23 million hectares in 2016-17.
For those uninitiated, nematicides are chemical pesticides used to kill plat-parasitic nematodes. It is broad-spectrum toxicant possessing high volatility and other features, promoting migration through the soil, leading to surging product demand in several industrial, agricultural, and other applications.
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Governmental initiatives for promoting usage of bio-nematicides, which can be utilized as alternative to traditional synthetic pesticides is also fostering the market growth. Reduced side-effects on environment, along with decreased human health hazards are stimulating global nematicides industry expansion. Moreover, rising spending capacity of customers, high demand for superior quality food, as well as availability of customized solutions targeting specific pests are anticipated to add to the overall market outlook in the approaching years.
Speaking of the pitfalls, pesticides residue problems are likely to impede global nematicides industry remuneration over the forecast timespan.
Based on type, the market is split into bionematicides, organophosphates, carbamates, fumigants, and others. Moving on to mode of application, worldwide nematicides market is categorized into seed treatment, soil dressing, drenching, and fumigation. As per nematode type, the industry is bifurcated into cyst, and root knot. Considering the form, the market is classified into liquid, and granular.
Citing the geographical terrain, worldwide nematicides industry sphere is categorized into North America, Europe, Asia Pacific, Latin America, and Rest of the World. As per report findings, Asia Pacific presently holds significant market share and is projected to record a substantial growth over the predicted timeline, owing to growing agriculture in the region. In addition, rising investments to fuel crop yields, along with improving disposable income are also contributing to the regional market outlook.
Well-established firms in global nematicides market are Valent USA LLC, Isagro Group, UPL Limited, Nufarm Ltd., FMC Corporation, ADAMA Ltd., BASF SE, Corteva Agriscience, Syngenta Crop Protection AG, and Bayer AG.