Fior Markets launched a study titled “Microencapsulated Pesticides Market by Type (Herbicides, Insecticides, Fungicides, Others) Technology, Application, Regions”,End User Industry, Regions”, and Global Forecast 2018-2025.
The global microencapsulated pesticides market is expected to grow from USD 334.16 Million in 2017 to USD 817.45 Million by 2025, at a CAGR of 11.83% during the forecast period from 2018-2025. Increasing adoption of integrated pest management practices, along with the regulatory support for sustainable approach to limit the excess use of agrochemicals are some of the factors driving the market growth.
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Insecticides segment had a market value of USD 141.48 million in 2017
Type is segmented into herbicides, insecticides, fungicides, rodenticides, and others. Due to growing registration & commercialization of new varieties of microencapsulated insecticides, the insecticides segment emerged as a dominating segment with USD 141.48 million revenue in 2017. Encapsulated insecticides are beneficial in the fields of forestry, public health, and agriculture sector. Rising demand for herbicides to kill or inhibit the propagation of weeds is projected to propel the herbicide segment to grow at an accelerated CAGR of 13.89% over the forecast period.
The chemical segment is anticipated to grow at a CAGR of 13.98% in 2018-2025
Technology segment is divided into physical, physicochemical, and chemical. On account of being highly effective and less expensive, the chemical technology segment emerged as the leading segment in the global microencapsulated pesticides market with USD 160.96 million revenue in 2017. The chemical segment is also anticipated to grow at the highest CAGR of 13.98% over the forecast period.
The agricultural segment had a market value of USD 211.48 million in 2017
Application is subcategorized into agricultural and non-agricultural. Agricultural segment led the global microencapsulated pesticides market with USD 211.48 million revenue in 2017. This increase in revenue can be attributed to the property of microencapsulated pesticides to significantly reduce the quantity of pesticides required as compared to traditional pesticides.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Europe region emerged as the leader in the microencapsulated pesticides market with USD 150.07 million revenue in 2017. Favorable government initiatives for the adoption of integrated pest management practices and increasing awareness pertaining benefits of microencapsulated pesticides were some of the driving factors responsible for this increased demand. Whereas Asia Pacific region is projected to account for a significant market share over the forecast period, owing to the rapid development of the agricultural sector in the region.
Major players in the global microencapsulated pesticides market are BASF AG, Bayer AG, Syngenta, FMC Corporation, ADAMA, BotanoCap, Arysta LifeScience Corporation, GAT Microencapsulation, Reed Pacific, Belchim Crop Protection, Ecosafe Natural Products Inc, Monsanto Company, McLaughlin Gormley King Company, MGK Insect Control Solutions, Pesticides India Ltd., and among others.
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