Global nematicides market has grown tremendously on account of rapid industrialization leading to reduction of arable soil and fertile land for agriculture. Nematicides are a type of pesticide used to eradicate highly prolific plant parasites such as nematodes, which has led to increasing demand in various agricultural, industrial, and other applications. Decrease in fertile and arable land has inversely led to an increase in high yielding crops demand to meet global food requirements. This factor has considerably boosted nematicides demand, in order to increase crop protection and improve quality of yield from limited crops. Governmental support encouraging the development of bio-nematicides as an alternative to conventional synthetic pesticides has also fostered the global bio-nematicides market growth. Reduction in human health hazards and environmental side-effects is also expected to boost the global market over the forecast period. Increasing spending capacity of consumers and high-quality food demand is also anticipated to fuel the global market.
On the basis of products, nematicides are categorized into organophosphates, carbamates, and bio-nematicides. On the basis of delivery, nematicides can be classified mainly into fumigants and contact applicators, as well as integrated seed treatment which is yet in a nascent stage of development. Fumigants are generally administered several weeks before actual crop plantation in order to eradicate parasites existent in surrounding soil, air, and water. Fumigants are generally applied only to high-value crops such as vegetables and fruits on account of high cost. Contact applicators are sprayed directly onto the crops once they are planted into the soil. Various market opportunities on account of biofuel technology development are expected to support nematicides market growth. Highest potential lies in the bio-nematicides market on account of eco-friendliness and sustainability.
Concerns regarding the ill-effects of pesticides and associated perceptions of health and environmental degradation are expected to hamper the nematicides market growth. Various environmental regulations imposed by the Environment Protection Agency (EPA) and the National Institute of Environmental Health Sciences (NIEHS) are further anticipated to hinder the development of the pesticide market on the whole. Increasing development of transgenic crops is also expected to negatively impact the market over the forecast period.
North America has emerged as the largest regional market in terms of nematicides consumption on account of growing food demand and decline in arable land. Europe was the second major market for nematicides until governmental regulations hampered market development. Increasing agrochemical and agricultural activities in Asia Pacific regions are also anticipated to present various opportunities for market growth in the region over the next seven years. Decrease in arable land on account of industrialization has led to surge the demand from India and China. Other regions such as Latin America and Middle East are also expected to offer ample opportunities for nematicides market growth.
Key players in the global nematicides market include Adama Agricultural Solutions Ltd., Bayer CropScience AG, Monsanto, FMC Corporation, BASF SE, Syngenta AG, Valent, and Dow Agrosciences.
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The current pandemic situation has created disruption in the manufacturing of agrochemicals by virtue of raw material availability. Furthermore, this continual trend shall have a cascading effect on food productivity and crop yields on economies that are predominantly agrarian, during a time when demand for Agri produce shall register a spike over the medium term. Governments across the developing world are vying to incrementally ease restrictions on the manufacturing of fertilizers and maintain seasonal agricultural activities in order to reduce concerns regarding food security, which is a critical indicator for determining the course of a supply gap in the industry. The report will account for Covid19 as a key market contributor.