As per the report published by Fior Markets, 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.Europe region dominated the global microencapsulated pesticides market with market share of 44.91% in 2017.
“Microencapsulated Pesticides Market by Type (Herbicides, Insecticides, Fungicides, Others) Technology, Application, Regions”,End User Industry, Regions”, and Global Forecast 2018-2025.
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Major players in the global microencapsulated pesticides market are BASF AG, Bayer AG, Syngenta, FMC Corporation, ADAMA, BotanoCap, ArystaLifeScience 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.There has been a huge demand for the microencapsulated pesticides owing to their superior properties. For instance, Syngenta in 2017, announced the launch of Warrior II insecticide made with Zeon Technology®. Zeon Technology uses a patented micro-encapsulation process that ensures fast insect knockdown and long residual control. Thus increasing the efficacy of the pesticide.
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 a 42.34% share of 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. 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 a 48.17% share of revenue in 2017. The chemical segment is also anticipated to grow at the highest CAGR of 13.98% over the forecast period. The application is subcategorized into agricultural and non-agricultural. Agricultural segment led the global microencapsulated pesticides market with a 63.29% share of 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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Although properties of microencapsulated pesticides for reducing the environmental and health risk associated with pesticides as well as controlled release assuring enhanced efficacy of the pesticides are driving the market. The lack of awareness among the end users and high cost associated with the microencapsulation of pesticides is anticipated to hamper the growth of the market.
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