The global cropprotection chemicals market size is gaining traction due to recenttechnological advancements and approvals on the manufacture of crop protectionchemicals. Moreover, increasing awareness regarding the use ofenvironment-friendly products has led to an increase in demand for sustainablecrop protection chemicals. Backed by these factors, leading companies arefocusing on introducing nature-friendly ingredients within crop protectionchemicals. The trend advocating the lesser use of synthetic alternatives isbacked by availability of natural ingredients due to the rising emphasis onresearch and development (R&D) of crop protection chemicals.
Relaxation in Regulatory Compliances is Encouraging Manufacturers
Less stringent rules for product approvals are encouragingmany companies to invest in the manufacturing of these products. Furthermore,investment towards research and development of crop protection chemicals ispoised to surge in the coming years. The aforementioned factors have had adirect impact on the global market and are likely to create growthopportunities in the market over the forecast period.
Increasing Demand for Biofuels to Drive the Market
Growth in biofuel crops farming in Latin America may boostthe Crop Protection Chemicals Market in this region in the near future.Biofuels are derived from crops such as sugarcane, rapeseed, wheat, soybean andcorn and these crops are produced in abundance. The Crop Protection ChemicalsMarket in Asia Pacific is likely to expand at a high rate due to the increasingdemand for biofuels. The increasing demand for biofuels has lessened the dependencyon conventional fuels and this factor may drive the regional market in theforthcoming years. Furthermore, restriction and strict regulations imposed onuse of organic pollutants will fuel the demand for their product counterparts,mostly chemicals. This factor is expected to drive the Crop ProtectionChemicals Market in the Asia Pacific.
South America to Emerge as the Leading Segment
The Crop Protection Chemicals Market in South America islikely to emerge as the highest valued market among all regions. FortuneBusiness Insights predicts that the regional market in Asia Pacific and Europeto rank second and third, trailing South America over the course of theforecast period. The growing awareness regarding benefits of using cropprotection chemicals in crop yield is a major factor that boosts the market inSouth America. Furthermore, increasing investments on research and developmentof crop protection chemicals in Asia Pacific is another factor that isestimated to drive the regional market in the forecast period. Thus, the CropProtection Chemicals Market in Asia Pacific is likely to grow at the highestCAGR in the forecast period.
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