A report titled Global Insecticides Market - (Type, Geography) Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 2020,was added by Big Market Research states that the market would reach $16.7 billion by year 2020 with an impressive CAGR of 5% during 2014-2020.
Around 44% of the overall market share (value) was hold by Asia Pacific in the year 2013. As a result of the wide scale production of crops such as cotton, paddy and sugarcane, India dominates the insecticides consumption. However, due to the advent of genetically modified crops, the usage of insecticides have reduces in North America
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Organophosphate leads the overall insecticides market with a share (value) of 30% due its multi-functionalities such as fumigant, contact insecticide or systemic. Further, it is anticipated to register a CAGR of 5.3% during the estimated period. Global key players such as BASF, DOW and Syngenta, produce Organophosphate via brand names Lorsban, Curacron and Dursban. Abundant availability and growing demand are the key reasons driving Organophosphate insecticides growth globally.
Stricter government policies and rules would impede the growth of global insecticides market. In 2014, a new rule was formulated that stopped the usage of Chlorpyrifos insecticide as it found harmful on children. Due to high regulatory control, the bio-insecticides market would get a thrust.
Cereals & Grains within crop type is expected to retain more than 50% of the overall market share (value & Volume). Europe and North America together hold about 40% of the global market share (value). The report studied that the Latin America contributes 30% of the market share (revenue). Asia-Pacific would have a market size of of $7.2 billion by the year 2020 growing at a CAGR of 4.5%.
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