Pesticide Intermediate Market size is estimated to reach $147.1 Billion by 2025, growing at a CAGR of 7.2% during the forecast period 2020-2025. Pesticide intermediates are the substances that are used in the manufacturing of the pesticide products and sometimes these intermediates are also used as Pesticides as they also have the pesticide properties. An increase in the global population and increased urbanization which is causing the decrease of agriculture land to provide food to the global population is supporting the growth of pesticide intermediate to increase the crop productivity during the forecast period 2020-2025.
Pesticide Intermediate Market Segment Analysis - By Type
The global Pesticide Intermediate Market based on type has Chemical Pesticide and Bio-pesticide. The Bio-pesticide segment registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025. The segment is set to emerge owing to characteristics like organic and eco-friendly. The Biopesticides segment is also set to have the fastest growth with a CAGR of 10.1% during the forecast period 2020-2025. This is owing to its availability at low cost and have a fast effect when used.
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Pesticide Intermediate Market Segment Analysis - By Application
The Application segment of Pesticide Intermediate Market has Bactericide, Weeding, Insecticide, and Others. The Weeding segment registers for the highest market share in 2019 and is set to continue for the forecast period 2020-2025. The increase of the weeds in the crops is increasing demand of weeding segment to reduce the crop weeds and get the good crop production. The insecticide segment is also set to have growth owing to the increased demand to get rid of the insects in the crops. Increased demand for food, increased food security policies and increased demand for weed management, are boosting the market growth of the application segment during the forecast period 2020-2025.
Pesticide Intermediate Market Segment Analysis - By Geography
Based on Geography the pesticide intermediate market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America holds the dominant role of revenue share of 38.7% in the year 2019. This is owing to the increased food safety regulations and owing to the demand for health food products. Asia-Pacific is set to have the fastest growth owing to the increased population and increased demand of food production in a small area of land. Europe region is also set to have growth owing to the increase in the establishment of companies by the key players and increased demand of organic foods.
Pesticide Intermediate Market Drivers
High demand for food production
The increase in population is decreasing the agriculture land area and this is increasing the demand of the pesticide intermediate products to improve the production of the agriculture products to serve the increased population. Improved technology and introducing of new organic pesticides for the plants is boosting the market growth during the forecast period 2020-2025.
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Pesticide Intermediate Market Challenges
Increasing demand of organic products
The Increase in health concern by the people is driving the increase of the organic products and making pesticides from the complete organic resources is challenging to the manufacturers. The standard rules and regulation in the production and usage of pesticides are challenging the market during the forecast period 2020-2025.
Pesticide Intermediate Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Pesticide Intermediate Market. Key companies of this market are FMC Corporation, Lanxess, Monsanto, DowDuPont, Bayer, Syngenta, Nufarm, BASF SE, Tagros Chemicals, Adama Agricultural Solution Ltd and others.
Acquisitions/Product Launches:
In December 2019, Adama Ltd, has launched the ARMERO, which is a dual-mode fungicide, that consist of prothioconazole and mancozeb.
In July 2018, Syngenta, announced the introduction of VAYANTIS, a fungicide which is used in corn, soya-beans, canola, oil-seeds and cereals.
Key Takeaways
Geographically, North America’s Pesticide Intermediate Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
The decrease in the cultivation land owing to the increase in population is increasing demand for the pesticides which hep for the high production from the crop.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Pesticide Intermediate Market report.
The development of the pesticide intermediates and producing of the natural pesticides which are eco-friendly are driving the market during the forecast period 2020-2025.
Related Reports :
A. Pesticides Market
https://www.industryarc.com/Report/18229/pesticides-market-research-report-analysis.html
B. Insecticides Market
https://www.industryarc.com/Report/15905/insecticides-market.html
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