The global fumigation products market size is expected to showcase successive growth owing to the rising concern regarding the economic loss caused by pest infestation, observes Fortune Business Insights™ in its report, titled, “Fumigation Products Market Size, Share & Industry Analysis, By Form (Solid, Liquid, Gas), By Treatment Method (Methyl Bromine, Aluminum Phosphide, Magnesium phosphide, Sulfuryl Fluoride, Others), By Application (Residential, Agricultural, Warehouse/Storage, Others) and Regional Forecast, 2020-2027.” Fumigation products are primarily used to treat pests that infest harvested commodities including bulk grain and greenhouse insects. They are especially used to treat inaccessible pests, such as wood-boring beetles and dry-wood termites.
The COVID-19 contagion is turning out to be the biggest health emergency of all time. As a result, the world is experiencing a massive economic slowdown, breaking economies across the globe. Major players of their respective markets, along with governments, are investing in all their resources to overcome the current crisis.
At Fortune Business Insights™, we are offering a clear view on the key areas that are helping the market survive this period of crisis. Through our detailed market reports, we provide knowledge to comprehend the situation and take necessary actions.
Highlights of the report:
· Capturing data on the revenue of key market players through secondary sources such as company websites, corporate filings, annual reports, and investor presentations
· Employing bottom-up procedure to arrive at the overall size of the market by estimating revenues of key players
· Conducting extensive interviews with key industry experts, such as CEOs, VPs, directors, and executives
· Tracking and analyzing competitive developments such as partnerships, mergers & acquisitions, new product launches, and research & development activities
Driving Factor
Adoption of Fumigation Products Due to Increasing Crop Loss to Drive Market
Agriculture plays a major role in the global economy by generating jobs and income in significant parts of the world. However, the global agricultural sector faces loss on the annual basis due to pests and diseases, which result in the reduction of crops. According to the Indian Council of Agricultural Research, India loses 30-35% of its annual crop yield to pesticides on yearly basis.
Crop losses are a major threat to the income of rural families, to the economy, and to the food security worldwide. These factors are driving growers to use fumigation products, which is increasing their demand in the agriculture space. This, in turn, is expected to drive the of the global fumigation products market growth. In addition, the negative impact of pests, such as dry-wood termites, cockroaches, and rodents, on the human society in general is anticipated to further drive growth.
Regional Insights
Rapidly Increasing Pest Damage in Residential Buildings to Help North America Gain Prominence
North America is anticipated to dominate the global fumigation products market. One of the major factors responsible for the region’s dominance is the increasing number of residential buildings. As per the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, in February 2019, the total number of new houses sold reached 765000. The rising damage of these houses due to insects, rodents, and cockroaches is expected to further increase the demand for fumigation products in the region.
The market in Asia Pacific is expected to experience robust growth in the forecast timeframe. According to the Food and Agriculture Organization (FAO), the region is home to over 2.2 billion people who are engaged in agriculture. The utilization of fumigation products by these people for better crop growth is expected to increase their demand in the forecast timeframe. This is expected drive the growth of the fumigation products market in the region.
Competitive Landscape
Mergers and Acquisitions to Aid Major Players Increase their Footprints
Key players operating in the global fumigation products market are focusing on new strategies in order to increase their footprints in the market. In order to do so, they are spending extensively on expansions, mergers and acquisitions, and joint ventures. For instance, in December 2018, Flick Anticimex acquired All Pest & Weed Control. All Pest provides pest control, fumigation, and weed control services to commercial and residential customers.
Industry Development:
· In December 2017, Ecolab expanded its pest elimination business in the U.S. by acquiring three strategically aligned pest services businesses, namely, Food Protection Services LLC, Royal Pest Solutions, Inc., Research Fumigation Company, LLC, that provide specialized capabilities in food storage.
· In July 2015, Douglas Products announced complete acquisition of the Vikane and Profume gas fumigant business from Dow AgroSciences. The deal includes a manufacturing plant in Pittsburg, Calif and the sales, marketing, and technical staff members.
List of Key Players Covered in the Fumigation Products Market Report:
· Solvay S.A.
· Rentokil Initial PLC
· Industrial Fumigant Company LLC
· Royal Agro Organic Pvt. Ltd.
· AMVAC Chemical Corporation
· Detia Degesch GmbH
· National Fumigants
· UPI-USA
· Corteva Agriscience
· JAFFER Group of Companies
· Others
Browse Summary
https://www.fortunebusinessinsights.com/fumigation-products-market-103209
