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The global organophosphate pesticides market was estimated at USD 7.06 billion in 2017, and is expected to exhibit a CAGR of 5.5% during the forecast period 2018 2023. The rising disposable income, population, and food security have made AsiaPacific, the region with maximum potential for growth. The emerging economies including China, India, Vietnam, and Thailand are the major consumers. After the cessation of use of organochloride insecticides, organophosphate pesticides became the most commonly used in the United States. Due to strong government control over the harmful effects of chemicals on humans and environment, the market in Europe would grow at a rather static pace.
HighEfficiency and Low Cost Driving Demand
Organophosphate insecticides are highly effective insect control agents, because of their ability to depress the level of cholinesterase enzymes in the blood and nervous system of insects. In some cases, the cost of pest management may rise sufficiently that producers accept yield losses instead of paying for the alternative form of pest management. For instance, broccoli producers currently have no viable alternative pesticide to control cabbage maggot. If organophosphate pesticides are banned, producers will be forced to accept yield losses, as cabbage maggot destroys some of the crops.
More Reliance on Organophosphates
Currently, organophosphate insecticides account for more than 30% of the worldwide insecticide sales. Organophosphate pesticides are used in many crops in the United States, with corn, and cotton accounting for the majority of the total organophosphate insecticide use. According to the Environmental Protection Agency EPA report, over 50% of all organophosphate insecticides were applied to these two crops, with no other major commodity using organophosphate insecticides for more than 5% of total pesticide use. Cotton and corn are widely grown crops, with intensive use of pesticides per acre, which may make it necessary to restrict organophosphate insecticide use on minor crops. Pesticide use may be quite intensive on such crops as fruits, vegetables, and specialty crops in order to protect the highvalue crops from pest damage. Because consumers eat many fruits and vegetables fresh from the producer, these crops may also expose consumers to increased pesticide risk.
Key Developments in the Market
With the growing demand, the global organophosphate pesticides market is experiencing a number of new product launches, mergers acquisitions, and partnership between the global players.
December 2017: The US Environmental Protection Agency EPA issued a new report, declaring that the herbicide, Glyphosate, does not pose any meaningful risk to humans. The news will definitely help in increasing the sale of the product.
Key Players: DUPONT, CHEMINOVA AS, SYNGENTA, BAYER CROPSCIENCE AG, BASF SE, DOW AGROSCIENCES, NUFARM, SINOHARVEST CORPORATION, MONSANTO, UNITED PHOSPHORUS LIMITED, SUMITOMO CHEMICAL, ARYSTA LIFESCIENCE, FMC AGRICULTURAL SOLUTIONS, ADAMA
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Global, regional and countrylevel analysis, along with forecasts of the study market.
Study of the effect of exogenous endogenous factors, viz. demographic, economics, and political factors, among others, which affect the global market.
Porter's five forces framework incorporating the factors influencing each force to determine the intensity of competition.
Segment and subsegment level analysis of the market over the review and forecast period.
Identification of key factors instrumental in changing the market scenario, exploiting new opportunities and gaining a competitive edge.
SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
3 months analyst support along with the Market Estimate sheet in excel. Customization of the Report
Countries of client's interest can be included in report based on feasibility of report.
Companies of client's interest can be included in report based on feasibility of report.
Original Article: Global Organophosphate Pesticide Market Segmented by Active Ingredients, Product Type, Application, and Geography Growth, Trends, and Forecast 2018 2023 [Report Updated: 08022018] Prices from USD $4250NEXT ARTICLE
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