Global Organophosphate Pesticide Market - Segmented by Active Ingredients, Product Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

The global organophosphate pesticides market was estimated at USD 7.06 billion in 2017, and is expected to exhibit a CAGR of 5.5% during the forecast period (2018 - 2023). The rising disposable income, population, and food security have made Asia-Pacific, the region with maximum potential for growth. The emerging economies including China, India, Vietnam, and Thailand are the major consumers. After the cessation of use of organochloride insecticides, organophosphate pesticides became the most commonly used in the United States. Due to strong government control over the harmful effects of chemicals on humans and environment, the market in Europe would grow at a rather static pace.

High-Efficiency and Low Cost Driving Demand

Organophosphate insecticides are highly effective insect control agents, because of their ability to depress the level of cholinesterase enzymes in the blood and nervous system of insects. In some cases, the cost of pest management may rise sufficiently that producers accept yield losses instead of paying for the alternative form of pest management. For instance, broccoli producers currently have no viable alternative pesticide to control cabbage maggot. If organophosphate pesticides are banned, producers will be forced to accept yield losses, as cabbage maggot destroys some of the crops.

More Reliance on Organophosphates

Currently, organophosphate insecticides account for more than 30% of the worldwide insecticide sales. Organophosphate pesticides are used in many crops in the United States, with corn, and cotton accounting for the majority of the total organophosphate insecticide use. According to the Environmental Protection Agency (EPA) report, over 50% of all organophosphate insecticides were applied to these two crops, with no other major commodity using organophosphate insecticides for more than 5% of total pesticide use. Cotton and corn are widely grown crops, with intensive use of pesticides per acre, which may make it necessary to restrict organophosphate insecticide use on minor crops. Pesticide use may be quite intensive on such crops as fruits, vegetables, and specialty crops in order to protect the high-value crops from pest damage. Because consumers eat many fruits and vegetables fresh from the producer, these crops may also expose consumers to increased pesticide risk.

Key Developments in the Market

With the growing demand, the global organophosphate pesticides market is experiencing a number of new product launches, mergers & acquisitions, and partnership between the global players.

• December 2017: The US Environmental Protection Agency (EPA) issued a new report, declaring that the herbicide, Glyphosate, does not pose any meaningful risk to humans. The news will definitely help in increasing the sale of the product.

Key Players: DUPONT, CHEMINOVA AS, SYNGENTA, BAYER CROPSCIENCE AG, BASF SE, DOW AGROSCIENCES, NUFARM, SINOHARVEST CORPORATION, MONSANTO, UNITED PHOSPHORUS LIMITED, SUMITOMO CHEMICAL, ARYSTA LIFESCIENCE, FMC AGRICULTURAL SOLUTIONS, ADAMA

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