Agricultural Fumigants Market Overview
Agricultural Fumigants Market Size was valued at USD 1.95 billion in 2022. The agricultural fumigants market industry is projected to grow from USD 2.0 Billion in 2023 to USD 2.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.40% during the forecast period (2023–2032).
Increasing crop damages due to transportation and increasing side-effects on crops are the key Agricultural Fumigants market drivers enhancing the market growth. Agricultural fumigants play a crucial role in modern farming practices by effectively managing pests, diseases, and weeds. These chemical compounds are used to sterilize soil, control nematodes, eliminate pathogens, and ensure healthy crop growth. This article explores the importance, types, application methods, benefits, and safety considerations associated with agricultural fumigants.
The increasing focus to reduce post-harvest losses of crops is expected to be one of the significant factors that can boost the agricultural fumigants market 2023. The surging requirement to enhance the crop productivity is expected to augment the agricultural fumigants industry in the assessment period. The rise in food demand of the expanding populace is anticipated to act as a significant catalyst that can support the market expansion. Furthermore, the growing need for effective techniques in the modern farming is expected to fuel the agricultural fumigants market growth.
On the flip side, the toxicity associated with the product is projected to hamper the market growth during the review period. However, growing crop losses during the transportation, along with aforementioned factors can counter the impeding factor that can augment the market.
The market segmentation of the global agricultural fumigants market is done by types, application, and form.
The types-based segments of the global agricultural fumigants market are methyl bromide, phosphine, chloropicrin, 1, 3-Dichloropropene, metam sodium, and others. Among all segments, the methyl bromide market is expected to acquire the most significant market share during the assessment period. However, the environmental damage caused due to the usage of methyl bromide can bring a negative impact on the market.
The application-based segments of the global agricultural fumigants market are warehouse and soil. Among all, the warehouse segment is likely to dominate the market during the review period.
The form-based segments of the global agricultural fumigants market are liquid, solid, and gas. Among all segments, the liquid fumigants segment is anticipated to dominate the market during the forecast period. On the other hand, the gaseous agricultural fumigant segment is expected to expand at the fastest rate due to its ability to reach insects in stored places.
Based on the region, the global agricultural fumigants market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
According to the analysis conducted by MRFR, North America is anticipated to dominate the global market during the review period owing to the growing adoption of modern farming techniques. The U.S. and Canada are likely to acquire significant market value during the review period.
Europe is anticipated to witness moderate market growth during the forecast period. The region is projected to expand owing to the growing awareness in the coming period. The U.K. is likely to acquire significant market value in the assessment period.
The APAC region is expected to be the fastest-growing market during the review period owing to the presence of emerging countries like India and China. The growing engagement of people in farming is expected to be a crucial factor that can drive the regional market in the coming period. In addition, the application of fumigants in India and other evolving countries is gaining prominence owing to its benefits, which can create various opportunities for market expansion during the review period.
The Middle East region is anticipated to acquire the last position owing to the presence of underdeveloped economies during the forecast period.
Prominent players of the global agricultural fumigants market are The Dow Chemical Company (U.S.), BASF SE (Germany), Nufarm Limited (Australia), ADAMA Agricultural Solution Ltd (Israel), FMC Corporation (U.S.), Reddick Fumigants, LLC (U.S.), and Syngenta AG (Switzerland).
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