PUBLISHER: The Business Research Company | PRODUCT CODE: 1436554
PUBLISHER: The Business Research Company | PRODUCT CODE: 1436554
Organophosphate pesticides are a varied group of chemicals used primarily in pesticides and insecticides. They work by targeting the body's acetylcholinesterase enzyme, causing harmful effects. These pesticides are commonly employed to manage pests on vegetables and fruits in agricultural settings.
Organophosphate pesticides encompass various types, including herbicides, insecticides, fungicides, and other variants. Herbicides are chemical substances specifically designed to eliminate unwanted plants, predominantly weeds. Among the ingredients utilized in these pesticides are malathion, diazinon, glyphosate, methamidophos, dimethoate, chlorpyriphos, parathion, and several others. These pesticides find application in diverse settings, spanning crop-based and non-crop-based scenarios.
The organophosphates pesticides market research report is one of a series of new reports from The Business Research Company that provides organophosphates pesticides market statistics, including organophosphates pesticides industry global market size, regional shares, competitors with a organophosphates pesticides market share, detailed organophosphates pesticides market segments, market trends and opportunities, and any further data you may need to thrive in the organophosphates pesticides industry. This organophosphates pesticides market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The organophosphates pesticides market size has grown strongly in recent years. It will grow from $7.6 billion in 2023 to $8.1 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth observed in the historical period can be attributed to the widespread adoption in agriculture, the substitution of other pesticides, cost-effectiveness, a broad spectrum of activity, and ease of application.
The organophosphates pesticides market size is expected to see strong growth in the next few years. It will grow to $10.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period can be attributed to the demand for food security, expansion into emerging markets, the adoption of integrated pest management (IPM), regulatory changes, and the impact of climate change. Major trends in the forecast period include increased focus on research and development, a shift towards sustainability and eco-friendly alternatives, integration of precision agriculture practices, adoption of biological pest control solutions, and adherence to stringent regulatory measures.
The increase in the occurrence of crop infections is anticipated to boost the growth of the organophosphate pesticide market in the future. Crop infections, which are diseases that can affect plants through various means such as wounds, stomata, or pores, necessitate effective control measures. Organophosphate pesticides play a crucial role in managing and protecting crops from such diseases. For example, a report from the Food and Agriculture Organization (FAO), a specialized agriculture agency based in the US, highlighted that in 2020, 40% of the global crop production was annually lost due to pests and the escalation of seed- and soil-borne diseases. The economic impact of these plant diseases is substantial, costing the global economy approximately $220 billion each year, with an additional $70 billion attributed to invasive insects. As a result, the increase in the prevalence of crop infections is a driving force behind the growth of the organophosphate pesticide market.
The increasing global demand for food is expected to drive the growth of the organophosphate pesticide market in the future. Global food demand represents the quantity of food that consumers are willing and able to purchase across various price points and income levels. Organophosphate pesticides (OPs) play a vital role in food production by ensuring high crop productivity and contributing to food security for the expanding global population. For example, as of November 2023, data from the United States Department of Agriculture, a US-based government agency, indicated that expenditures on food accounted for 12.8 percent of U.S. households' spending in 2022, marking an increase from 12.4 percent in 2021. Total spending on food by U.S. consumers, businesses, and government entities reached $2.39 trillion. Food-at-home spending increased from $954.7 billion in 2021 to $1.05 trillion in 2022, while food-away-from-home spending rose from $1.16 trillion in 2021 to $1.34 trillion in 2022. Notably, food-away-from-home spending constituted 56% of the total food expenditures in 2022. Hence, the escalating global food demand emerges as a significant factor driving the growth of the organophosphate pesticide market.
Innovative product development is a significant trend gaining traction within the organophosphate pesticides market. Key companies operating in this sector are dedicated to introducing cutting-edge products and solutions to maintain their positions. An illustration of this trend occurred in February 2021 when Bayer AG, a prominent Germany-based pharmaceutical and biotechnology company, unveiled a novel insecticide called Vayego 200SC. This innovative insecticide harnesses tetraniliprole as its active ingredient, specifically targeting pests such as caterpillars. Tetraniliprole, known for its efficacy, offers effective control of Lepidopteran species across various crops, including rice, vegetables, and plantation crops. Importantly, its impact on beneficial insects is minimal, ensuring a targeted approach to pest management while minimizing harm to beneficial insect populations. This launch by Bayer AG signifies a commitment to advancing pesticide technology to provide effective pest control solutions with reduced environmental impact, meeting the evolving needs of agriculture while prioritizing environmental sustainability.
Prominent entities in the organophosphate pesticide sector are spearheading advancements in product development, exemplified by Diazinon, an artificial insecticide renowned for its historical usage in managing household, gardening, and agricultural pests. Notably, in October 2023, FMC Corporation, a leading US chemical manufacturer, introduced the Malathion 1000 EC insecticide tailored for Brazilian coffee plantations. This innovative solution boasts heightened efficacy and rapid impact in combatting the coffee borer, a migratory pest notorious for inflicting substantial harm on coffee crops. The formulation's swift action and capability to expel the snout align with the manufacturer's claims, as documented in various sources.
In May 2021, ADAMA Ltd., an Israel-based company specializing in crop protection solutions, acquired a 51% stake in the essential synthesis and formulation facilities for crop protection from Jiangsu Huifeng Bio Agriculture Co. The financial details of the acquisition were undisclosed. This strategic move is anticipated to bolster ADAMA's presence in emerging markets, particularly in China, and enhance its competitive standing in crucial global molecules. The acquisition is strategically aligned with ADAMA's growth objectives. Jiangsu Huifeng Bio Agriculture Co., based in China, is an agrochemical company primarily known for its production of organophosphate insecticides.
Major companies operating in the organophosphates pesticides market report are BASF SE, Dow AgroSciences LLC, Bayer AG, Hebei Chenguang Pesticide Co. Ltd., Yara International ASA, Sumitomo Chemicals, The Mosaic Company, Syngenta Crop Protection AG, Solvay S.A., The Monsanto Company, DuPont de Nemours Inc., Sociedad Quimica y Minera, United Phosphorus Limited, FMC Corporation, Adama Agricultural Solutions, Nufarm Ltd., Chambal Fertilizers and Chemicals Ltd., Croda International PLC, Tata Chemicals Ltd., Piramal Agro Ltd., Ishihara Sangyo Kaisha Limited, Godrej Agrovet Ltd., Anhui Huaxing Chemical Industry Co. Ltd., American Vanguard Corporation, Cheminova A/S, Valent USA LLC, Rallis India Ltd., Isagro SpA, Shandong Longlive Agrochem Co. Ltd., Nantong Evergreen Agrochemical Co. Ltd., Jiangsu Huai'an Chemical Industry Group Co. Ltd., Zhejiang Xinyi Agrochemical Co. Ltd., National Fertilizers Ltd.
North America was the largest region in the organophosphates pesticides market in 2023. The regions covered in the organophosphates pesticides market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the organophosphates pesticides market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The organophosphates pesticides market consists of thiols, amides, esters of phosphonic, phosphonic, phosphoric, and thiophosphoric acids. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Organophosphates Pesticides Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on organophosphates pesticides market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for organophosphates pesticides ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The organophosphates pesticides market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.