COVID-19 Impact On Microencapsulated Pesticides Industry Trends, Revenue Growth, Forecast To 2024

Market Scenario

The ****** Microencapsulated Pesticides Market is expected to register a CAGR of 12.34% from 2019 to 2024 and reach USD 712 million by the end of 2024.

Microencapsulated pesticides are chemical fertilizers enclosed in a protective layer made of starch, plastic, or some other material. These pesticides are used for localized spraying of pesticides against targeted pests, insects, fungus, and weeds. It is available to plants as per requirement and to avoid toxic effects of pesticides on environment and human beings. There is a surging demand for microencapsulated pesticides as conventional pesticides reduce the soil fertility and have adverse effects on plant growth.

The ****** Microencapsulated Pesticides Industry  has been categorized on the basis of product, crop type, technology, application, and region. Based on product, the ****** microencapsulated pesticides market has been segmented into herbicides, insecticides, fungicides, rodenticides, and others. The insecticides segment dominated the ****** market in 2017 due to significant adoption rate and easy degradability. In addition to this, low leaching property of the product and major companies focusing on the development of insecticides formulation through R&D activities further drive the market growth. The herbicides segment is projected to grow at a healthy CAGR in the coming years due to surging demand for the product in controlling **** growth.

Market Segmentation

The ****** microencapsulated pesticides market has been categorized based on product, crop type, application, technology, and region.

By product, the ****** microencapsulated pesticides market has been classified into herbicides, insecticides, fungicides, rodenticides, others.

Based on technology, the ****** microencapsulated pesticides market has been segmented into physical, chemical, physio-chemical, and others. The physical segment is further classified into centrifugal extrusion and vibrational nozzle. The chemical segment is further bifurcated into polymerization and interfacial polycondensation. The physio-chemical segment is further divided into ionotropic gelation and supercritical fluid precipitation.

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Regional Analysis

The European market held the largest market share in 2017 and is projected to grow at the highest CAGR in the coming years owing to government initiatives on consumption of controlled spraying of pesticides and increased focus on product innovation. Germany is the major contributor in the region owing to ban on certain toxic pesticides and due to the presence of major companies such as Bayer AG and BASF SE serving microencapsulated pesticides in nearby countries. Austria, France, Belgium, and Italy are other regions contributing to regional market growth.

Competitive Analysis

ECOSAFE NATURAL PRODUCTS INC. (Canada), Syngenta (Switzerland), Monsanto Company (US), FMC Corporation. (US), ADAMA (Israel), BASF SE (Germany), Bayer AG (Germany), BotanoCap (Israel), Reed Pacific Pty Limited (Australia), Arysta LifeScience Corporation (US), McLaughlin Gormley King Company (US), GAT Microencapsulation (Austria), and Belchim Crop Protection (Belgium) are some of the key players operating in the ****** microencapsulated pesticides market.

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