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A service for agriculture industry professionals · Wednesday, September 26, 2018 · 463,106,076 Articles · 3+ Million Readers

Agricultural Fumigants Market Worth 1,750.4 Million by 2023, Says Meticulous Research®

LONDON, Aug. 09, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the global agricultural fumigants market is expected to grow at a CAGR of 4.8% from 2018 to 2023 to reach USD 1,750.4 million by 2023. The growth of this market is majorly driven by factors such as growing adoption of improved agricultural practices and advancement in storage technology, growing reduction in arable land, rising need to increase agriculture production, increasing post-harvest losses, and high prevalence of pest attacks.

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The phosphine fumigant has dominated the agriculture fumigants market in 2017 and will continue its dominance through 2023. The growth of this segment will be mainly supported by its increasing usage in both developed and developing countries as an alternative to methyl bromide. Moreover, factors such as phosphine’s high degree of penetration, easy availability, less toxic nature, and more effectiveness as compared to other fumigants are further propelling growth of phosphine fumigant market.

The warehouse application expected to see largest demand for agricultural fumigants through 2023, primarily due to high prevalence of pest attack during storage; high adoption of the fumigants in the food stock warehouses in North America and European countries; advancement in warehouse and storage facilities; growing need of grain disinfection in the warehouses and storages; and increasing government financial assistance to warehouse industry, especially in developing countries.

Geographically, North America dominated the global market in 2017; however, Asia pacific region expected to witness fastest growth during the forecast period, mainly due to large area under the agriculture production, easy availability of the agriculture production inputs, improved agriculture practices & storage technology, and increasing awareness towards reducing post-harvest losses. Also, rising farm incomes, increasing purchasing power of farmers, and favorable government policies in developing nations such as China and India further drive the growth of agricultural fumigants market in the region.

The key players in the global agricultural fumigants market are The Dow Chemical Company, Syngenta International AG, Nufarm Limited, AMVAC Chemical Corporation, ADAMA Agricultural Solutions Ltd., BASF SE, UPL Limited, Marrone Bio Innovations, Inc., Isagro S.p.A., Arkema Group, Solvay Group, Eastman Chemical Company, DEGESCH America, Inc., Reddick Fumigants, LLC., and Vietnam Fumigation J.S among others.

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Viren Shrivastava

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