The global organophosphate pesticides market was estimated at USD 7.06 billion in 2017, and is expected to exhibit a CAGR of 5.5% during the forecast period (2018-2023). The organophosphate group of compounds constitute the largest group of chemical insecticides, which are used in crop protection globally. Out of the total insecticides used in the United States, organophosphates occupy majority of the share, with acephate, chlorpyrifos, malathion, naled, phorate, dicrotophos, phosmet, dimethoate, terbufos, ethoprophos, and tetrachlorvinphos being the most widely used. Due to strong government control over the harmful effects of chemicals on humans and environment, the market in Europe is expected to grow at a rather static pace.
High Efficiency and Low Cost Driving Demand
Among the various crop protection chemicals, organophosphate insecticides are highly effective insect control agents. In some cases, the cost of pest management may rise sufficiently, so much so that producers accept yield losses instead of paying for the alternative form of pest management. For instance, broccoli producers currently have no viable alternative pesticide to control cabbage maggots. If organophosphate pesticides are banned, producers will be forced to accept yield losses, as cabbage maggot destroys crops.
More Reliance on Organophosphates
Currently, organophosphate insecticides account for more than 30% of the worldwide insecticide sales. Organophosphate pesticides are used in many crops in the United States, with corn and cotton accounting for the majority of the total organophosphate insecticide use. According to the Environmental Protection Agency (EPA) report, over 50% of all organophosphate insecticides were applied to these two crops. Pesticide use may be quite intensive on crops such as fruits, vegetables, and specialty crops to protect the high-value crops from pest damage. As consumers eat fresh fruits and vegetables, these crops may also expose consumers to increased pesticide risk.
Key Developments in the Market
Owing to the growing demand, the global organophosphate pesticide market is experiencing several new product launches, mergers & acquisitions, and partnership between the global players.
- February 2018: US Environmental Protection Agency (EPA) fined agribusiness company Syngenta for violations of pesticide regulations. Syngenta is slated to pay USD 150,000 for improperly using the organophosphate pesticide chlorpyrifos at a seed corn field in Hawaii in 2016 and 2017.
Key Players: DuPont, Cheminova AS, Syngenta, Bayer Cropscience AG, BASF SE, Dow AgroSciences, Nufarm, Sinoharvest Corporation, Monsanto, United Phosphorus Limited, Sumitomo Chemical, Arysta Lifescience, FMC Agricultural Solutions, and ADAMA, amongs others.
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1.1 Market Definition
1.2 Key Findings of the Study
2. Research Scope and Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Market Segmentation
2.4 Research Methodology
2.5 Research Phases
3. Market Dynamics
3.1.1 Growing Food Demand and Shrinking Land
3.1.2 High-Efficiency and Low Cost
3.1.3 Demand for Pesticides in Developing Countries
3.1.4 More Reliance on Pesticide Use
3.2.1 Availability of Eco-Friendly Alternatives
3.2.2 Burgeoning Research and Development Costs
4. Industry Analysis
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Suppliers
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of New Entrants
4.1.4 Threat of Substitute Products and Services
4.1.5 Degree of Competition
5. Market Segmentation
5.1 By Active Ingrediants
5.1.8 Other Organophophates
5.2 By Type
5.3 By Application
22.214.171.124 Cereals & Grains
126.96.36.199 Oil Seeds
188.8.131.52 Fruits & Vegetables
184.108.40.206 Turf & Ornamental Grass
5.4 By Geography
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
5.4.4 South America
5.4.5 Rest of the World
6. Competitive Landscape
6.1 Major Strategies Adopted by Leading Players
6.2 Most Active Companies
6.3 Market Share Analysis
7. Company Profiles*
7.2 Cheminova AS
7.4 Bayer CropScience AG
7.5 BASF SE
7.6 Dow AgroSciences
7.8 SinoHarvest Corporation
7.11 United Phosphorus Limited
7.12 Sumitomo Chemical
7.13 Arysta LifeScience
7.14 FMC Agricultural Solutions
*List not Exhuastive
8. Future Outlook of the Market