A recent market research report by Transparency Market Research presents a thorough analytical overview of the global market for soil fumigants. The report is titled “Soil Fumigant Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.”
The global demand for soil fumigants is driven due to their benefits towards the improvement of plant yield irrespective of geography. Fumigants are known as a sustainable and cost-effective solution for the purpose and are witnessing an increased level of attention as economies struggle to increase agricultural produce to provide for the mounting population. The market is also driven due to the rising frequency of crop diseases and the rising demand to resolve issues caused by pathogens in crops and plants. The increased global preference to organic food products is also expected to spell growth for the market.
While the growth prospects for the market are mostly positive, the market may witness certain hindrances owing to strict environment protection regulations in countries across North America and Europe. Methyl bromide, for instance, is one of the world’s most commonly used soil fumigants. However, the overall usage of the product has been restricted across several countries as the product has ozone depletion properties.
The report examines the soil fumigants market for regional markets such as Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Of these, the Asia Pacific market for soil fumigants in is presently the leading regional market for soil fumigants and is likely to expand at a healthy pace as the demand for food continues to rise at an unprecedented rate owing to the massive rise in population. The market is expected to witness notable growth across emerging economies such as India and China over the report’s forecast period.
The market in North America is expected to take the second spot in terms of market share over the forecast period, followed by the market in Europe. Stringent regulations pertaining to the use of chemicals in the agriculture sector are projected to have a negative impact on several products in the market. Nevertheless, the scenario will push manufacturers to focus more on bio-based and environmentally harmless products. The market is also likely to witness a favorable growth scenario in countries across regions such as Middle East, South America, and Africa as the regions have witnessed steady industrial and economic expansion in the recent years.
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It has been observed that companies in the market are focused on research and development efforts with the view of developing environment friendly products. Some of the leading companies operating in the global soil fumigants market are Arkema, Bayer CropScience AG, Chemtura Corporation, AMVAC Chemical Corporation, Arysta LifeScience Limited, Trinity Manufacturing, Great Lakes Solutions, BASF SE, The Dow Chemical Company, Syngenta AG, and Novozymes.