The Organophosphates Pesticides Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Organophosphates Pesticides Global Market Report 2024, 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 in the historic period can be attributed to widespread adoption in agriculture, replacement of other pesticides, cost-effectiveness, broad spectrum of activity, 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 growth in the forecast period can be attributed to demand for food security, emerging markets, integrated pest management (IPM), regulatory changes, climate change impact. Major trends in the forecast period include research and development, sustainability and eco-friendly alternatives, precision agriculture integration, biological pest control solutions, stringent regulatory measures.
The rise in the prevalence of crop infections is expected to propel the growth of the organophosphate pesticide market going forward. Crop infections refer to diseases that can affect plants through wounds, stomata, or pores. Organophosphate pesticides are used for controlling diseases that affect crops and making sure the crops are protected. For instance, in June 2021, according to a report shared by the Food and Agriculture Organization (FAO), a US-based specialized agriculture agency, in 2020, 40% of the global crop production lost annually due to pests and the rise in seed- and soil-borne diseases. These plant diseases cost the global economy approximately $220 billion each year, while invasive insects cost around $70 billion. Therefore, the rise in the prevalence of crop infection is driving the growth of the organophosphate pesticides market.
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The organophosphate pesticides market covered in this report is segmented –
1) By Type: Herbicides, Insecticides, Fungicides, Other Types
2) By Ingredients: Malathion, Diazinon, Glyphosate, Methamidophos, Dimethoate, Chloropyriphos, Parathion, Other Ingredients
3) By Application: Crop Based, Non-Crop Based
Major companies operating in the organophosphate pesticide market are developing innovative products such as Diazinon, for controlling pests in crops. Diazinon is a man-made organophosphate insecticide that was once widely used to control insects in homes, gardens, and on agricultural crops. For instance, in October 2023, FMC Corporation, a US-based chemical manufacturing company, launched Malathion 1000 EC insecticide for Brazilian coffee plantations, as reported in various sources, including. According to the manufacturer, the new product has a high efficacy and shock effect for controlling the coffee borer, which is a migratory pest that can cause significant damage to coffee crops. The Malathion 1000 EC formulation can take effect quickly and has the effect of driving out the snout.
The organophosphates pesticides market report table of contents includes:
1. Executive Summary
2. Organophosphates Pesticides Market Characteristics
3. Organophosphates Pesticides Market Trends And Strategies
4. Organophosphates Pesticides Market – Macro Economic Scenario
5. Global Organophosphates Pesticides Market Size and Growth
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26. South America Organophosphates Pesticides Market
27. Brazil Organophosphates Pesticides Market
28. Middle East Organophosphates Pesticides Market
29. Africa Organophosphates Pesticides Market
30. Organophosphates Pesticides Market Competitive Landscape And Company Profiles
Top Major Players:
- BASF SE
- Dow AgroSciences LLC
- Bayer AG
- Hebei Chenguang Pesticide Co Ltd
- Yara International ASA
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