Nematicides have a significant usage in treating infestations among crops by nematodes for cash crops that includes the cotton, soybean, and fruits & vegetables are driving forces for its market growth. Infestation is hard to be identified and hence could deteriorate the crop yield. Advent inactive ingredients in the market for controlling nematodes constitute methyl bromide and aldicarb that could drive the market in controlling nematodes. Environmental regulatory policies are imposed for decreasing pollution causing agents had substantiated market growth of biological control methods in order to eradicate the nematodes. Enhanced agricultural practices constitute no-tillage and decreased tillage farming, attributed to the degradation of soil resulting in increased infestations. These factors are supporting nematicides market growth worldwide.
Nematicides market is increasing at a significant rate because of an increase in the industrialization process that accounted for a decline in the soil quality for crop yield. Pesticides are encouraged in the eradication of abundant agricultural parasites including nematodes that are contributing to the demand increase of agricultural usage, industrial and other applications. Decrease of infertile and arable land offers considerable demand rise for greater crop yield in order to meet food demand globally. These factors supporting an increase of market share for nematicides worldwide to improve the crop yield and quality in the yield of crops.
The Nematicides Market Projected to Expand at a CAGR of 3.2% during the Forecast Period.
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Application of Halogen and Fumigants Compounds Segment is anticipated to Expand Its Market Growth.
One of the most admired nematicides is halogens commonly used as nematicides and fumigants that are utilized in treating agricultural land and plants. Increased usage of multipurpose nematicide includes methyl bromide for vegetables. Government regulations are partially limiting the usage of methyl bromide that has substituted for reducing the growth of nematodes and pathogens in the agricultural land. Ban in the application of methyl bromide by the Chinese government has a substantial impact on the demand of nematicides in its market share. Demand Increase in the fumigant nematicide segment is projected to lead its market with profitable margins coupled with a rise in adoption rate for vegetables & fruit crops.
In 2018, The Nematicides Market In North America Accounted A Healthy Share In The Global Market.
Nematicides have the highest consumption by The North America region thus accounted for higher market share globally in reaching demand. The nematicides consumption rate is accounted for one third in the global market which is significantly high among the other regions. Corn crop being the major agricultural yield by North American with a significant demand for nematicides along with important plant parasites including nematodes is a restrain for maize crop yield due to root-knot nematodes, heteroderat important groups of plant-parasites includes nematodes acts as a constraint in production of maize which constitutes of Pratylenchus spp., and cyst nematodes, Heterodera spp. are constraining its growth of market share.
Increasing demand for the nematicides by the agricultural activities and on the other hand there is a significant regulatory policy enforced by the governments across the globe. These forces have paved new opportunities for the company’s manufacturing these nematicides products globally as per the government regulations. Prominent players offering nematicides are stated as follows: American Vanguard Corporation, BASF SE., Bayer CropScience AG., Corteva Agriscience, Syngenta International AG., FMC Corporation, UPL Limited, Bioworks, Inc., Isagro SpA, arrone Bio Innovations Inc., Nufarm Limited.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
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