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Pesticide Manufacturing in the US - Industry Market Research Report

United States pesticide manufacturing market: $17.4 billion industry by 2018


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2014-02-12 19:57:01 - Pesticide Manufacturing in the US - Industry Market Research Report - a new market research report on companiesandmarkets.com

It is estimated that the US agricultural industry loses about $20.0 billion to $30.0 billion to plant pests and diseases each year. The United States Pesticide Manufacturing market manufactures chemical and pesticide products to manage these agricultural pests and diseases. Because of the industry´s ability to boost productivity, it is considered an integral part of the $200.0-billion US agriculture sector.

However, over the past decade, actual pesticide use has experienced little growth. This stagnation has occurred because of the increasing adoption of integrated pest management strategies, organic farming, more selective herbicides and the development of biopesticides, which are increasingly being used as alternative pest-control agents. Moreover, the ongoing adoption of genetically modified (GM) crops and low farmer income during the recession

 

 

caused revenue volatility over the five years to 2013. Nonetheless, from 2008 to 2013, industry revenue will grow at an estimated average annual rate of 2.1% to $16.1 billion. As the economy continues to recover and farmers experience higher incomes, customers will encounter increased crop production and demand for pesticides. Revenue is thus expected to grow about 2.6% in 2013. Profit also is expected to grow to an estimated 8.5% of revenue in 2013.

Over the five years to 2018, revenue is projected to grow at an average annual rate of 1.6% to total $17.4 billion. Historically, agricultural output and income levels have been the most important determinants of industry demand, but new variables have emerged in recent years to trouble pesticide manufacturers. These variables include the flow-on effects of biotechnology developments and the growing sizes of the areas dedicated to GM crops. Even with these potential concerns for the industry, increases in the size of crop areas planted for biofuel purposes (e.g. corn, wheat and rapeseed acreage) will enable the industry to continue growth.

Although the industry is anticipated to experience revenue growth during the next five years, the number of manufacturers is expected to decrease. As operators sought to gain market share and research and development advantages, a number of companies underwent mergers and acquisitions from 2008 to 2013. As this trend of consolidation continues, company numbers are projected to decrease at an annualized rate of 2.7% to 124 over the five years to 2018.

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