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(MoneyNewsWire.Net, April 05, 2018 ) Latin America Crop Protection Pesticides Market has been estimated at USD 6.30 Billion in 2016 and is projected to reach USD 8.52 Billion by 2021, at a CAGR of 6.23% during the forecast period from 2016 to 2021.Crop protection chemicals, also called Pesticides protect the farms/crops from insects, diseases that destroy the plants. They constitute a class of agrochemicals used for preventing the destruction of crops by pests, diseases and weeds.
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In the recent years in Latin America, agricultural heartlands of Brazil (the Cerrados) and Argentina (the Pampas) have been experiencing a growing number of highly skilled progressive and operating farmers. Expansion of the farmland has proved to be one of the major driving factors of South Americas agriculture and subsequently the crop protection market. The increased regulations on the usage of persistent organic pollutants (POPs) is also anticipated to fuel the growth of the market Low level of awareness among producers and the controversy surrounding adoption of genetically modified crops is constraining the market growth.
Latin America market for Pesticides is segmented into Crop-based Application and Non-crop-based Application. Each of these segments is further sub segmented as follows: based on Crop-Based Applications- Grains & Cereals, Oilseeds and Fruits & Vegetables, based on Non-Crop-Based Applications- Turf & Ornamental Grass and Other Applications. Pesticide Market Is also segmented into type which is further subdivided into Synthetic and Bio-pesticides. Each of these is further sub divided into Herbicides, Insecticides, Fungicides, Other Synthetic Pesticides and Bio-herbicides, Bio-insecticides, Bio-fungicides Other Bio-pesticides respectively. Crop protection chemicals market is being dominated by herbicides, followed by synthetic fungicides.
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On Geographical basis Latin America market for Pesticides is segmented into Brazil, Argentina and others. Latin America market is the second fastest growing market for Pesticides. Brazil is the largest, market for Pesticides within the region. Argentina introduced regulations for reducing the use of chemical pesticides in the vicinity of cities which plays key role a raise in consumption of bio-pesticides. Latin American countries are expected to emerge as food-exporting powerhouses in the near future, owing to large availability of fertile land and suitable climatic conditions.
In Latin America Crop Protection Pesticides Market, the leading companies comprises Syngenta, Bayer, BASF, FMC, DuPont, Dow, Monsanto and Iharabras along with other companies like Marrone Bio Innovations, Arysta Life sciences, American Vanguard, Cheminova, Chemtura Corp, Monsanto, Natural Industries, Novozymes A/S, Nufarm Ltd, Sumitomo Chemical, Valent Biosciences, FMC Corp, Isagro SpA, Ishihara Sangyo Kaisha, Makhteshim Agan, Chr Hansen, and BioWorks.
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