The global slow and controlled release pesticides market value is anticipated to reach USD 3.1 billion by 2025, according to a new report by Grand View Research, Inc. Rising global food demand and limited arable land area is anticipated to propel the market growth.
The slow and controlled release formulation of pesticides consist of retarding biological agents which release their constituents in to the surroundings over a defined period. These agents are bound chemically and physically in a polymer mix by using various techniques.
In the past few years, the industry has witnessed increasing investments in R&D activities for the experimentation on new efficient methods of slow and controlled release formulation. The rising concern over harmful effects of pesticides on the nearby surroundings is likely to act as an added advantage in the increasing popularity of the product. Some of the major application sectors of the products include agriculture, and others.
The herbicides segment is likely to be the most dominating pesticides-type from 2016 to 2025.The product segment is likely to be driven by its increasing usage in the developing nations. The growth in population coupled with rising awareness for healthy diet is anticipated to be among the major drivers for advancing herbicides segment.
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Further key findings from the report suggest:
The global demand for slow and controlled release pesticides market was USD 1.7 billion in 2016 and is expected to grow at a CAGR of around 7.3% from 2017 to 2025 to exceed a total revenue of over USD 3.1 billion by 2025.
Herbicides was the biggest segment in the market accounting for over 39% of the total revenue in 2016
Agriculture was the largest application segment for slow and controlled release pesticides market with a demand of over USD 1 billion in 2016
The North America is expected to be the largest regional market with a projected CAGR of 7.3% over the forecast period
The industry is dominated by a few multinational corporations such as Bayer AG, BASF SE, The Dow Chemical Company, Syngenta. Companies are moving towards strategic mergers and acquisition to increase their international presence and gain significant market share.
Grand View Research has segmented the global slow and controlled release pesticides market by pesticides-type, application, and region:
Pesticides-type Outlook (Revenue, USD Million, 2014 - 2025)
Application Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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