2014-02-20 08:51:02 - Asia-Pacific Crop Protection Chemicals Market: Trends and Forecast to 2018 - a new market research report on companiesandmarkets.com
The Asia-Pacific crop protection chemicals market is forecast to grow to a total value of around $18.3 billion by the end of 2018. This would suggest a CAGR growth rate between 2012 and 2018 of 6.2%.Increasing need for food crop, with overgrowing population in Asia-Pacific has fueled the use of pesticides for enhancing crop yield. Use of pesticides is becoming a common practice in countries such as India, China, and other less developed countries in the region, leading to the growth in areas where there had previously been very less or no pesticide usage. . In addition to this, decreasing arable land per person in India, China, and especially in South East Asia is a very serious concern, where arable
land per person is decreased up to 0.1 hectares per person. The Asia-Pacific market for crop protection chemicals, in terms of active ingredient volume was estimated at 636 KT in 2011 and is expected to reach 843.5 KT by 2018.The crop protection market consists of crop protection chemicals or agrochemicals, seeds, and genetically modified (GM) crops. Crop protection chemicals are the most dominating segment of this market in terms of market share as well as product innovations. Crop protection chemicals are further classified as herbicides, insecticides, fungicides, bio-pesticides, and adjuvants. As the latter two segments hold a minor market share, in general practice, pesticides are referred to as crop protection chemicals.Factors such as toxicity of crop protection products, environment friendliness, innovative production practices, new product offerings, increased availability, and advent of new pests are increasing the market for biopesticide industry, globally. Biopesticides are beneficial to ecological chain and environment and are also effective in controlling agricultural pest. The hazards caused to the environment by chemical pesticide residues can be alleviated with the help of Biopesticides Synthetic pesticides, which are typically manufactured from petrochemical or inorganic raw materials, are further segmented as insecticides, herbicides and fungicides. Crop protection chemicals market is dominated by herbicides, accounting for over 41% of the total pesticide volume demand in 2011. Being the worlds largest as well as most populous continent, Asia-Pacific is one the key markets for crop protection chemicals. Asia-Pacific accounts for almost 30% of land available on earth and 60% of human population.
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