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Microencapsulated Pesticides Market Growth, Trends and Value Chain 2018-2026 by TMR
5/23/2022
Microencapsulated Pesticides Market -Snapshot
Rising adoption of IPM or integrated pest management particles as well as increasing regulatory support for sustainable approach to restrict extensive agrochemical application are some of the major drivers for the global microencapsulated pesticides market. However, reluctance by farmers about adopting these new and novel techniques as well as high production costs are two of the major restrains for the growth of the global microencapsulated pesticides market in the next few years. Types of products offered by the players and manufacturers in the global microencapsulated pesticides market include herbicides, rodenticides, fungicides, and insecticides.
Products in the global microencapsulated pesticides market are protective coatings with an active liquid or powder substance. These coatings in the global microencapsulated pesticides market can be made up of various materials, including plastic and starch, among others. Products in the global microencapsulated pesticides market are mixed in the water in order to spray them on crops. The rising restrictions and ban on using particular types of harmful chemicals in several regions and nations across the world is also motivating the development of the global microencapsulated pesticides market in coming years.
Increase in the awareness pertaining to availability of microencapsulated pesticides as well as growing instances of pets and insect occurrences may drive the growth in the global microencapsulated pesticides market in the next few years. Players and manufacturers in the global microencapsulated pesticides market are focused on product innovation and green manufacturing and production in a bid to attract more conusmers. Reduction in the usage of toxic chemicals and materials in the production of pesticides is also expected to offer the players and manufacturers with new opportunities to explore organic and non-volatile chemicals and ingredients. This trend is expected to foster the development of the global microencapsulated pesticides market in coming years.
Microencapsulated Pesticides Market – Snapshot
Dry and liquid pesticides encapsulated in small-sized plastic capsules are known as microencapsulated pesticides. The term ‘microencapsulation’ usually refers to capsule size ranging from 1 µm to 1 mm. Microencapsulated pesticides are mixed with water and sprayed. Plastic walls of capsules break on spraying and the pesticide is slowly released. This helps in gradual release of the pesticide. It also avoids loss. Microencapsulated pesticides contain an active agent and surrounded polymeric shell dispersed in polymeric matrix. The technique of microencapsulation involves packing of solid, liquid, or gaseous active ingredients within a protective coating for the purpose of protecting these ingredients from the surrounding environment. Microcapsules offer several benefits such as conversion of liquids into solids, protection of the environment, separation of reactive compounds, and superior material-handling properties.
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 the fields of 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 used on a large scale to kill unwanted vegetation. They are generally utilized to kill or inhibit the growth of 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 anticipated to expand at a significant pace during the forecast period.
In terms of crop, the global microencapsulated pesticides market has been divided 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 globe 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 anticipated 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.
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 estimated 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. Increase in the trend of forming lawns and gardens is expected to drive the segment during the forecast period.
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 value and volume, Europe was the leading region of the global market in 2017. The region is estimated to continue 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 near future. 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.
The global microencapsulated pesticides market is dominated by large-sized players. Presence of several large-sized players makes the market highly competitive. Key players operating in the market are Syngenta, Bayer AG, BASF SE, ADAMA Agricultural Solutions Ltd., and FMC Corporation.
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