Microencapsulated Pesticides Market to Perceive Substantial Growth During 2026
The
global microencapsulated pesticides market was valued at US$ 327.05
Mn in 2017 and is anticipated to expand at a CAGR of 10.4% from 2018
to 2026, according to a new report titled ‘Microencapsulated
Pesticides Market: Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2018–2026,’ published by Transparency
Market Research (TMR). Rising demand for integrated pesticide
management is anticipated to augment the global microencapsulated
pesticides market during the forecast period.
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Report Overview @
Concerns
regarding soil fertility and harmful effects of conventional
pesticides
In
order to achieve advancements in food security as well as
environmental sustainability in the agriculture sector, an approach
that maximizes crop production and minimizes mining of nutrient
reserves from the soil is required. The approach also involves
minimizing the degradation of physical and chemical properties of the
soil, which may lead to soil pollution. If pesticides are not used
properly, they can be harmful for humans as well as the environment.
Pesticides can cause air, soil, and water pollution if used in large
quantities. Microencapsulated pesticides are slow releasing and they
have superior properties such as enhanced solubility, permeability,
and stability. These properties are attained either by protecting the
encapsulated active ingredients from early degradation or increasing
their pest control efficacy for a longer period of time. Polymers
used in microencapsulation can be biodegradable or non-biodegradable.
Decomposition of naturally occurring and biodegradable polymers, such
as polysaccharides and proteins, can enhance soil fertility.
Increased
Demand from Non-agricultural Applications
Microencapsulated
pesticides are largely used in non-agricultural applications as well.
Advanced pest control systems require technologically advanced
insecticides with less harmful effects on the applicator individual
as well as the environment. Global players are introducing
insecticides for pest control systems that are formulated with
microencapsulation application, for example, ICON MAXX by Syngenta
AG. It is an insect repellant net treatment solution. Increase in
urbanization and rise in public health concerns are driving the
demand for microencapsulated pesticides in consumer and industrial
sector.
Reluctance
of Farmers to Adopt Microencapsulation
Microencapsulation
is a process by which droplets of solid or liquid material are coated
or surrounded with a continuous film of a polymeric material. These
microcapsules offer protection of the environment; help in separating
reactive compounds; and improve material-handling properties of
active ingredients. In the process of microencapsulation, tiny
particles or droplets of active ingredients are surrounded by a
coating to impart several useful properties to these capsules. The
material inside the microcapsule is referred to as the core, while
the wall is called a shell, coating, or membrane. Microencapsulation
is a technical process; hence, farmers in developing countries find
the process difficult to adopt. These farmers use conventional
pesticides, as they are easy to apply, inexpensive, and readily
available.
Insecticides
Segment to Dominate Global Microencapsulated Pesticides Market
Based
on type, the global microencapsulated pesticides market has been
segmented into insecticides, herbicides, fungicides, and
rodenticides. Insecticides is a prominent segment of the global
market. Insecticides are applied in different formulations such as
sprays, gels, or as baits to target insects. They are beneficial in
sectors such as forestry, public health, and agriculture. The
insecticides segment is estimated to expand at a moderate pace during
the forecast period. Herbicides is another significant segment of the
market. It is expected to expand at a rapid pace during the forecast
period. Herbicides are chemicals employed on a large scale to kill
unwanted vegetation. They are generally utilized to kill or inhibit
the growth weeds. Herbicides limit the growth of weeds that overpower
the desired vegetation. Fungicides and rodenticides segments
collectively constituted a minimal share of the market in 2017.
However, these segments are projected to expand at a significant pace
during the forecast period.
Cereals
& Grains Segment to Lead in Terms of Demand
Based
on crop, the global microencapsulated pesticides market has been
segregated into cereals & grains, oilseeds & pulses, fruits &
vegetables, and turf & ornamental. In terms of both value and
volume, the cereals & grains segment accounted for a leading
share of the global microencapsulated pesticides market in 2017. The
segment is estimated to expand at a significant pace during the
forecast period. Cereals and grains are crops cultivated widely
across the world and they are highly affected by pests. Insecticides
and herbicides are primarily used for cereals and grains. Fruits &
vegetables is another significant segment of the market and it is
expected to expand at a rapid pace during the forecast period. Fruits
and vegetables that require pesticides in high concentrations include
peaches, nectarines, cherries, strawberries, grapes, raspberries,
pear, apples, potatoes, spinach, bell peppers, and celery. The turf &
ornamental segment constituted the minimal share of the market in
2017. However, it is projected to expand at a considerable pace
during the forecast period. The turf & ornamental segment
comprises decorative plants, cut flowers, and bulbs.
Agricultural
Segment to Dominate Global Microencapsulated Pesticides Market
In
terms of application, the global microencapsulated pesticides market
has been divided into agricultural and non-agricultural. In terms of
both revenue and volume, the agricultural segment accounted for a
dominant share of the global market in 2017. The segment is likely to
expand rapidly during the forecast period, due to increase in the
demand for microencapsulated pesticides, which help reduce the rate
of application by 10–15 times compared to traditional formulations
such as emulsifiable concentrates and suspension concentrates. The
non-agricultural segment constituted a key share of the global
microencapsulated pesticides market in 2017. Increasing trend of
forming lawns and gardens is expected to drive the segment during the
forecast period.
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Europe
Dominates Global Microencapsulated Pesticides Market
Based
on region, the global microencapsulated pesticides market can be
classified into North America, Europe, Asia Pacific, Middle East &
Africa, and Latin America. In terms of both value and volume, Europe
was the leading region of the global market in 2017. The region is
likely to maintain its dominance during the forecast period also.
Increase in favorable government initiatives for integrated pest
management practices and rise in awareness about benefits of
microencapsulated pesticides in the region are anticipated to drive
the demand for these pesticides in Europe in the next few years. In
terms of consumption, North America and Asia Pacific follow Europe.
China and India are expected to be highly lucrative markets for
encapsulated pesticides between 2018 and 2026. In terms of demand,
Latin America holds a significant share of the global
microencapsulated pesticides market. The market in the region is
projected to expand at a rapid pace during the forecast period.
Middle East & Africa constituted a relatively low share of the
global market in 2017.
High
Degree of Competition among Market Players
The
global microencapsulated pesticides market is dominated by
large-sized players. Key players operating in the market are
Syngenta, Bayer AG, BASF SE, ADAMA Agricultural Solutions Ltd., and
FMC Corporation.
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