The Global Organophosphate Pesticides Market was worth $6.57 billion in 2016 and estimated to be growing at a CAGR of 5.27%, to reach $8.49 billion by 2021.
Hyderabad, India -- (SBWIRE) -- 03/01/2018 -- The Global Organophosphate Pesticides Market is anticipated to reach $8.49 billion by 2021 from $6.57 billion in 2016. The large variety of pest control methods are used against organophosphate pesticides and insects are the major factors responsible for the market growth. Easy availability and low cost of Organophosphate Pesticides are fueling the market growth.
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Other prominent factors attributing the growth of the market are rising world population which leads to the increase in crop yield and efficiency. New farming methods coupled with high performance are boosting the demand for market growth. However, a large number of environmental and health problems associated with the chemicals from these pesticides, and high research and development costs are impeding the growth of the market.
The Grains and Cereals from the application segment accounted the world market place for organophosphate Pesticides within the forecast period. On the origin of type, the Organophosphate Pesticides Market is fragmented into Insecticide, Herbicide, Fungicide, and others.
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The Asia Pacific accounted for the large share of worldwide organophosphate Pesticides market and this trend is predicted to remain constant in the future. North America is the second most important customer of Organophosphate Pesticides, and it is followed by Europe. In North America and Europe, the demand for organophosphate Pesticides is predicted to grow at a slow rate because of dangerous effects of chemicals on humans and surroundings. increasing demand for organophosphate Pesticides in South America is estimated to supply huge growth for the market.
Some of the prominent firms of the organophosphate Pesticides market are Nufarm, DOW Agriscience LLC, FMC Corporation, Monsanto, American Vanguard Corp, Syngenta AG, Adama Agricultural Solutions Ltd, Bayer Cropscience, BASF, and Dupont.
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