Nematicide Market has grown enormously in the last decade owing to rising demand to increase the crop yields and to overcome arable land reduction, which is hindering the overall crop production.
Nematicide Market: Market Dynamics
The rise in demand for the production of high-quality and organic crops, especially organic fruits and vegetables has escalated the need for nematicides, which favored the growth of nematicide market. Production of bio-nematicides from fungal or bacterial spores are less toxic than the traditional chemical pesticides, hence various governmental bodies are supporting the production of bionematicides, and this acts as one of the major driving factors of nematicide market. Adoption of advanced agricultural technologies and modern farming practices has led to the increased application of nematicides to provide better plant protection and improved yield. NemaStrike is one such advanced technology introduced by Monsanto which will target root-knot and nematode species present in the soil. However, the highly toxic nature of chemical nematicides likes ethylene dibromide and carbofurais acts as a restraint for the growth of nematicide market. Developments in nematode resistant transgenic or genetically modified crops might also restrict the global market growth.
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Nematicide Market: By Product
By product type, the nematicides market is segmented into fumigants, organophosphates, carbamates, and bionematicides. Fumigant nematicide market is expected to witness a significant growth rate in the forecast period, owing to its high volatility at ambient temperatures and effective post-harvest loss reduction. Chloropicrin is projected to be the widely adopted fumigant by agriculture industry because of its efficacy to fight against a range of nematodes. Bionematicides are also anticipated to witness a steep rise in the upcoming years which will be contributed by the rise in development and adaptation of biopesticides, biofertilizers, and other biocontrol solutions.
Nematicide Market: By Application
The nematicides market is majorly associated with agriculture and hence the growing demand for high-quality crops coupled with sustainable and safe farming practices will boost the market. The development of non-fumigant nematicides such as NIMITZ that has received federal registration from the Environmental Protection Agency (EPA) can be considered as one of the crucial market boosters in the agriculture sector. The nematicide market for seed-treatment is expected to grow at a higher rate in the forecast period due to nematicides’ eradication response towards root-knot nematodes like Meloidogyne Incognita. Moreover, it is further attributed by the lesser health hazards imposed by the nematicides. Increase in cost of fertilizers and pesticides have also assisted in the market growth among small and mid-sized farm growers.
Nematicide Market: By Region
North America nematicide market is anticipated to hold the largest share in the nematicide market followed by Europe, due to the reduction in arable land coupled with increasing food demand in these regions. Asia Pacific nematicide market is accounted to grow significantly in the forecast period due to expansion in the agriculture sector and growing awareness of crop protection techniques among farmers.
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Nematicide Market: Competitive Landscape
Some of the major players in global nematicide market include ADAMA Agricultural Solutions Limited, Bayer CropScience AG, BASF SE, American Vanguard Corporation, FMC Corporation, Bioworks Incorporated, The Dow Chemical Company, E.I. Du Pont De Nemours and Company, Isagro Group Spa, Ishihara Sangyo Kaisha Ltd., Nufarm Ltd, Syngenta AG, UPL Limited, and Valent USA among others. AMVAC Chemical Corporation has confirmed its distribution agreement with Rotam North America, in November 2017 to market and sell ReTurn XL, which is a novel nematicide that offers above-and-below-ground protection.
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