The global organophosphate insecticides market size is expected to gain momentum backed by the increasing incidence of insect attacks and the rising population rate across the globe that is anticipated to boost the adoption of innovative organophosphate insecticides globally. Fortune Business Insights, published this information in its upcoming report, titled, “Organophosphate Insecticides Market Size, Share & Industry Analysis, By Active Ingredient (Parathion, Malathion, Chlorpyrifos, Methamidophos, Diazinon, Glyphosate, Others), By Application (Agriculture, Residential, Commercial), By Form (Liquid, Dry) and Regional Forecast, 2023-2030.”
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Organophosphate insecticides are types of pesticides that work efficiently by keeping away insects from attacking and destroying the crops. These insecticides function by damaging an enzyme known as acetylcholinesterase in the body of the insect. The damage instantly kills the pests and prevents the crops from further damage.
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What does the Report Include?
The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides a comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Increasing Incidence of Insect Attacks to Augment Growth
The rising global temperature is leading to high incidence of locust attack on crops. This is owing to the increased metabolic rates of the insects during hot conditions that led to them destroying crop fields on a larger scale. This is propelling the demand for advanced organophosphate insecticides to mitigate the risk of insects such as locust across the globe. Additionally, the rising population rate that is likely to surge the demand for better quality food is anticipated to contribute to the growth of the global organophosphate insecticides market in the forthcoming years.
REGIONAL INSIGHTS
Increasing Demand for Affordable Insecticide in Asia-Pacific to Aid Growth
Among all the regions, Asia-Pacific is expected to showcase considerable growth in the global organophosphate insecticides market during the forecast period. This is attributable to the increasing demand for affordable organophosphate insecticides owing to the growing demand for food from residential and industrial sectors in the region.
The market in North America is anticipated to experience substantial growth backed by the presence of established organophosphate insecticides manufacturers such as FMC Corporation, Valent USA LLC, and others that are striving to develop advanced insecticides in the region between 2022 and 2029.
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COMPETITIVE LANDSCAPE
Major Companies Focus on Merger and Acquisition to Expand Their Product Portfolio and Boost Sales Revenue
The global organophosphate insecticides market is consolidated by the presence of the major companies such as Bayer CropScience, FMC Corporation, Syngenta, and others. These companies are focusing on acquiring small companies to expand their organophosphate insecticides portfolio and gain a competitive edge over their rivals. Additionally, other key players are adopting strategies such as partnership, the introduction of new products, and collaboration that will contribute to the growth of the market during the forecast period.
Industry Development:
- March 2018 – Bayer CropScience, a leading agriculture solutions provider, announced the acquisition of Monsanto. According to the company, the acquisition is expected to aid in expansion of its products and further gain a solid consumer base across the globe.
List of Companies Profiled in the Global Market for Organophosphate Insecticides:
- BASF SE
- Adama Agricultural Solutions Ltd
- Bayer CropScience
- Isagro SpA
- Valent USA LLC
- UPL Limited
- FMC Corporation
- Nufarm Ltd.
- American Vanguard Corporation
- Syngenta AG
- Others
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