The global turf and ornamental chemicals market size is anticipated to grow at a staggering rate during the forecast timescale. Chemical inputs like fertilizers, growth regulators, and pesticides are used to maintain soil fertility, boost crop quality and increase crop yields. The market is experiencing a surge due to the frequent usage of these chemicals for controlling pests. Fortune Business Insights™ has presented this information in an upcoming report titled, “Turf and Ornamental Chemicals Market, 2022-2029”.
The report divulges the different reasons for the market’s anticipated growth. For instance, the report elucidates different strategies that are being developed and adopted to reduce the environmental damage caused by pesticide abuse.
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On the basis of turf grass’ type, the turf and ornament chemicals market is segmented into, Kentucky grass, Bermuda grass, ryegrass, zoysia grass, tall fescue, etc. Based on ornamental grass’ type, the market segments into fibre optic grass, purple millet, fountain grass, Ravenna grass, feather reed grass, and others. On the basis of its application, the market further segments into pesticides plant growth regulators, fertilizers, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The report demonstrates a thorough study of several regions and countries. Our research analysts have developed this report after evaluating various factors that regulate regional growth, such as the political, technological, social, economic, and environmental status of that particular region. The report provides a detailed qualitative and quantitative analysis for the turf and ornamental chemicals market. The information presented in this report is gathered through interviews with multiple stakeholders. The report gives key insights into the regulatory scenarios of this niche market. The report also focuses on the recent advancements in the industry, including information on new product launches, expansions, and key trends in the turf and ornamental chemicals market.
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Drivers & Restraints-
Pesticide’s Use-Related Regulations to Incite Growth
There has been continuous monitoring for the sustainable use of chemicals input to manage turfs and ornamentals. Management strategies like Integrated Pest Management (IPM) are being introduced to reduce the environmental damage caused by pesticide abuse. The frequent usage of pesticides to control and eliminate pests and other strategies like IPM to manage turfs and ornamentals and the market-driven regulations by relevant institutions are propelling the market growth.
However, the escalating environmental issues are expected to act as a restraint in the market’s anticipated growth.
Expansion of Turf Industry to Drive Market Growth in Several Regions
The turf industry is booming with its risen application across different marketplaces. The humungous demand for turf grass in North America has created a highly competitive marketplace. The demand scale in the region is characterized by vast rural areas with golf courses and playgrounds. Similarly, the Asia Pacific is expected to witness astonishing market growth caused by increased interest in leisure and sports amongst consumers. Europe will hold a substantial share in the global turf and ornaments market on account of increased fertilizer application. Increased mindfulness and tastes for better home and décor aesthetics will project a steady growth rate in the Middle East and Africa region. Latin America is expected to witness a relatively slow growth rate due to strict government regulations.
Introduction of Innovative Products to Push Market Growth
In the fairly fragmented global turf and ornamental chemicals market, global and regional players are devising new strategies to increase their growth during the forecast period. With new product launches and innovations in technology, the market is projected to rise over the horizon.
Mentioned below are the latest industry developments:
- March 2019: BASF launched an insecticide named Vebtigra. This new insecticide offers accuracy-targeted control strategies for killing insects and protects crops. The insecticide is helpful for nurseries and will consequently help expand the company’s footprint in the market.
- March 2019: Bayer announced an indoor residual spray pesticide named Fludora Fusion in Africa to assist in combatting crop destruction by insects. This new product offering has helped the company to stand out in the market across the globe.
A list of key players in the turf and ornamental chemicals industry are:
- Adama Aricultural Solutions
- American Vanguard Corporation
- BASF SE
- Bayer Crop Sciences
- Chemisco Division of United Industries Corp.
- Nufarm Limited Ltd.
- Chemtura Agro Solutions
- FMC Corporation
- Gowan International
- Koch Agronomic Services LLC
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