The Argentina pesticides market is expected to reach USD XX Million by 2020 from USD 4292.40 million in 2015, witnessing a CAGR of 7.9% during the forecasted period. Argentina is a developing nation and second largest user of pesticides in South American region because of its relatively large population and land area. Its agriculture is expected to grow at faster rate for food security and economic reasons. Argentina produces maize, sunflower, wheat, soybeans, fruits and vegetables. Argentina imports large part of its pesticide consumption from USA and exports many agricultural products to USA, Canada and developed European nations.
Argentina is one of the largest producer of soy and corn, hence the utilization of pesticides in these crop is very high in the country. Genetically modified soy, corn and cotton crops dominate the domestic agricultural scenario. While adoption of GM crops was aimed at reducing chemical pesticide consumption, data from 1990 reveals that growth in utilization has increased by nine times because of increased production, use of herbicide tolerant crops and increase in pest resistance.
By segment, biopesticides are likely to witness the faster growth in comparison to the synthetic chemicals due to increasing demand of regulation on crop protection chemicals by Latin American countries for protection of citizen’s health. By product type, market is categorized into herbicides, fungicides, insecticides and other crop protection chemicals. Herbicides constitute the major share of pesticides revenue. In 2014, herbicides accounted for XX% of the pesticides market. They are estimated to grow at 6.65% CAGR for 2015-2020 for the forecasted span of five years. Insecticides accounted for XX% of the Argentina pesticides market in 2014.
Further pesticides market has been segmented as synthetic and biopesticides. By application area, pesticides demand has been analyzed in terms of crop-based (including grains & cereals, oilseeds and fruits & vegetables) and non-crop-based (including turf & ornamental grass and other non-crop-based applications).
Major companies covered in the report include American Vanguard, Arysta LifeScience, BASF SE, Bayer CropScience, BioWorks, Cheminova, Chemtura Corp, Chr Hansen, Dow AgroSciences, DuPont, FMC Corp, Isagro SpA, Ishihara Sangyo Kaisha, Makhteshim Agan, Marrone Bio Innovations, Monsanto, Natural Industries, Novozymes A/S, Nufarm Ltd, Sumitomo Chemical, Syngenta AG and Valent Biosciences. The key strategies used by companies in this market are new product registrations, acquisitions to enter new markets.
Key Deliverables in the Study