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The global crop protection chemicals market size is gaining traction due to recent technological advancements and approvals on the manufacture of crop protection chemicals. Moreover, increasing awareness regarding the use of environment-friendly products has led to an increase in demand for sustainable crop protection chemicals. Backed by these factors, leading companies are focusing on introducing nature-friendly ingredients within crop protection chemicals. The trend advocating the lesser use of synthetic alternatives is backed by availability of natural ingredients due to the rising emphasis on research and development (R&D) of crop protection chemicals.
Key Companies Covered in The Reports
• Marrone Bio Innovations
• Nufarm Ltd
• FMC Corporation
• BASF SE
• BioWorks
• Monsanto
• Natural Industries
• Dow AgroSciences
• DuPont
• Syngenta AG
• Novozymes A/S
• Sumitomo Chemical
• Valent Biosciences
• Other players
Relaxation in Regulatory Compliances is Encouraging Manufacturers
Less stringent rules for product approvals are encouraging many companies to invest in the manufacturing of these products. Furthermore, investment towards research and development of crop protection chemicals is poised to surge in the coming years. The aforementioned factors have had a direct impact on the global market and are likely to create growth opportunities in the market over the forecast period.
Increasing Demand for Biofuels to Drive the Market
Growth in biofuel crops farming in Latin America may boost the Crop Protection Chemicals Market in this region in the near future. Biofuels are derived from crops such as sugarcane, rapeseed, wheat, soybean and corn and these crops are produced in abundance. The Crop Protection Chemicals Market in Asia Pacific is likely to expand at a high rate due to the increasing demand for biofuels. The increasing demand for biofuels has lessened the dependency on conventional fuels and this factor may drive the regional market in the forthcoming years. Furthermore, restriction and strict regulations imposed on use of organic pollutants will fuel the demand for their product counterparts, mostly chemicals. This factor is expected to drive the Crop Protection Chemicals Market in the Asia Pacific.
South America to Emerge as the Leading Segment
The Crop Protection Chemicals Market in South America is likely to emerge as the highest valued market among all regions. Fortune Business Insights predicts that the regional market in Asia Pacific and Europe to rank second and third, trailing South America over the course of the forecast period. The growing awareness regarding benefits of using crop protection chemicals in crop yield is a major factor that boosts the market in South America. Furthermore, increasing investments on research and development of crop protection chemicals in Asia Pacific is another factor that is estimated to drive the regional market in the forecast period. Thus, the Crop Protection Chemicals Market in Asia Pacific is likely to grow at the highest CAGR in the forecast period.
Browse Complete Report Details Enabled with Complete Tables and Figures:
https://www.fortunebusinessinsights.com/industry-reports/crop-protection-chemicals-market-100080