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(MoneyNewsWire.Net, January 21, 2016 )
Outlook of the crop protection chemicals market in LATAM
Technavios market research analyst predicts the crop protection chemicals market in LATAM to witness moderate growth at a CAGR of around 7% during the forecast period. The increased farming of biofuel crops in Latin American countries is driving the growth of this market. Biofuels are sourced from energy crops that comprise wheat, soybean, corn, rapeseed, and sugarcane. APAC, Latin America, and MEA are expected to drive the demand for biofuels reducing the dependence on conventional fuels and their imports.
The increased regulations on the usage of persistent organic pollutants (POPs) is anticipated to fuel the growth of the market during the forecast period. POPs are chemicals that are resistant to environmental degradation and accumulate in the food chain. The 2001 Stockholm Convention on Persistent Organic Pollutants banned the use of POPs, such as DDT, and any kind of insecticide and pesticide that can act as a pollutant for agricultural purposes as they pose severe risks to human and animal health. This initiative has led to the use of environmentally friendly insecticides that can undergo biodegradation and have minimal impact on the environment such as pyrethrums and pyrethroids.
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Segmentation by type and analysis of natural chemicals, synthetic chemicals
The synthetic crop protection chemicals dominated the market with a share of 92% during 2014. These chemicals can be further classified as organophosphate pesticides, carbamate pesticides, organochlorine insecticides, and pyrethroids.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
Synthetic crop protection chemicals
Natural crop protection chemicals
Segmentation by targetted use and analysis of - herbicides, insecticides, fungicides, adjuvants
The herbicides segment dominated the market during 2014, with a market share of around 46%. The report predicts the herbicides segment to reach a market value of around USD 8 billion by the end of 2019. The expanding agricultural industry especially in Brazil, Argentina, and Chile, is driving the growth of this segment.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
Herbicides
Insecticides
Fungicides
Adjuvants
Segmentation by crop type and analysis of - cereals, oilseeds, fruits
Cereals and grains accounted for nearly 46% of the overall market during 2014. The rapid change in the diet pattern of people across the world has propelled the growth of this segment.
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The report offers an analysis of each of the following segments and discusses its impact on the overall market growth.
Cereals and grains
Oilseeds and pulses
Fruits and vegetables
Competitive landscape and key vendors - BASF, Bayer, Dow, DuPont, Monsanto
The crop protection chemicals market in LATAM is dominated by international vendors. The introduction of energy-efficient agricultural technologies in developing countries is spurring the market growth. The competitive environment in this market is expected to intensify further due to an increase in product/service extensions, technological innovations, and mergers. The report anticipates international vendors to grow inorganically by acquiring regional or local vendors during the forecast period.
The leading vendors in the market are -
BASF
Bayer
Dow
DuPont
Monsanto
Syngenta
Valent
Other prominent vendors in the market include ADAMA, Arysta LifeScience, FMC, Marrone Bio Innovations, Novozymes, Nufarm, and Sumitomo Chemical.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the crop protection chemicals market in LATAM?
What are the key market trends impacting the growth of the crop protection chemicals market in LATAM?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the crop protection chemicals market in LATAM?
What are the key outcomes of the five forces analysis of the crop protection chemicals market in LATAM?
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Technavio also offers customization on reports based on specific client requirement.
Related reports
Global Crop Protection Chemicals Market 2015-2019
Global Agroscience Market 2015-2019
Global Plant Growth Chamber Market 2015-2019
Potassium Nitrate Market 2015-2019
Global Bio-herbicides Market 2015-2019
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