Market Scenario
Nematicides are a class of pesticide which are used to kill nematodes in agriculture. Nematodes are microscopic parasitic worms that can cause significant loss in crops. Market Research Future (MRFR) has recently published a report on the global nematicide market stating that the market is likely to reach USD 1.56 Bn at a CAGR of 3.1% by the end of the review period of 2019-2024.
Nematodes attack the flowers, stems, roots, foliage, and other parts of plants which can have a detrimental effect such as root lesions, stunted root systems, and root knots. They are extensively used by farmers to counter such effects on crops. In recent years, crop production has declined to a great extent due to the infestation of nematodes, which has prompted the adoption of nematicides. Moreover, integrated pest management is progressively finding its way in various agricultural practices, which further creates a conducive environment for the growth of the market.
Due to surging concerns regarding the adverse effects of chemical nematicides, new classes of nematicides have been developed. Bionematicides are effective and environmentally benign. They have successfully attracted the attention of various governments who are emphasizing on the use of bio-based nematicides. Furthermore, diminishing fertility and rise in consciousness regarding the use of harmful chemical compounds have resulted in legislative measures against the use of chemical pesticides, which is signaling growth in the nematicide market.
Conversely, the use of nematicides is restricted in various countries, which can impede market growth over the forecast period.
Segmental Analysis
The global nematicides market has been segmented based on type, form, crop type, and application.
By type, the nematicides market has been segmented into fumigants, carbamates, organophosphates, and others.
By form, the nematicides market has been segmented into liquid and dry.
By crop type, the nematicides market has been segmented into fruits & vegetables, cereals & grains, oilseeds & pulses, and others.
By application, the nematicides market has segmented into fumigation, irrigation, seed treatment, and others.
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Regional Analysis
Region-wise, the nematicides market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America accounts for the principal share of the global nematicides market. High awareness level in the region, regarding the benefits of using nematicides, is spurring the demand in the region. Moreover, high demand for organic vegetables and fruits in the region has propelled the demand for nematicides. The regulatory bodies in the region are encouraging the use of nematicides to counter the ill effects of various harmful pesticides.
The Europe nematicide market is driven by surging awareness regarding the consumption of organic fruits and vegetables in the region. Moreover, various regulations in the region inhibiting the use of harmful chemical compounds in agricultural use is also underpinning the growth of the market.
The APAC nematicides market is anticipated to register the highest CAGR over the forecast period. Booming population and loss of arable land due to rapid industrialization have exerted immense pressure to cultivate crops on a large scale, which has driven the market for nematicide.
The RoW market is anticipated to exhibit substantial growth over the forecast period, which will be supported by a perpetual increase in demand from countries such as Argentina and Brazil.
Competitive Landscape
American Vanguard Corporation (US), Nufram Limited (Australia), Ishihara Sangyo Kaisha Ltd. (Japan), Isagro Group Spa (Italy), The Monsanto Company (US), ADAMA Agricultural Solutions Ltd. (Israel), The DOW Chemical Company (US), Sumitomo Chemical Co., Ltd (Japan), BASF SE (Germany), Syngenta AG (Switzerland), Marrone Bio Innovations Inc. (US), Valent USA (US), FMC Corporation (US), Bayer Cropscience AG (Germany), and Simbiose Agrotecnologia Biologica (Brazil).
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