iCrowdNewswire Feb 1, 2021 2:10 AM ET
Microencapsulated Pesticides Market size is forecast to reach $732.9 million by 2025, after growing at a CAGR of 13.1% during 2020-2025. Convenient use and precise monitoring of the condition when the active ingredient is released is one of the major factors driving the growth of the demand for microencapsulated pesticides over the estimated time frame. Microcapsules provide many advantages, such as the conversion of liquids into solids, environmental protection, isolation of reactive compounds, and superior properties in material handling. Usual pesticides are considered harmful to the skin, while microencapsulated formulations are safer in comparison and are therefore favored by end-users over other formulations, which is why the growth of the molluscicides industry is expected to rise in the forecast era.
Microencapsulated Pesticides Market Segment Analysis – By Type
The insecticides segment is the dominant segment in the microencapsulated pesticide market. Insecticides are used for various tasks, such as gels, sprays, or baits. They are useful in the fields of forestry, agriculture, and public health. Global climate change has sparked the production of pests. These pests and insecticides are used to secure the crop where they serve as a deterrent to pests and insects. Cereals and grains are mainly used for insecticides and herbicides. The product portfolio of major companies involved in the pesticide industry has concentrated mostly on the production of formulations for microencapsulated insecticides. According to the Simmons National Consumer Survey (NHCS) 188.66 million Americans used insecticides in 2018 which is expected to rise to 193.57 million by 2020. The growth of pests and insects is expected to drive the insecticides segment over the forecast period.
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Microencapsulated Pesticides Market Segment Analysis – By Technology
Chemical technology is widely used in the microencapsulated pesticide market. The chemical method is based on reactions to the chemical. Some of the common chemical methods used in chemical technology are interfacial polymerization, in situ polymerization, and piercing-solidifying. Due to the wide use of interfacial polymerization for the commercialization of the encapsulated pesticides, chemical processing technology is projected to rise at the highest CAGR during the forecast era. Chemical technology is also less costly and, as compared with other technologies, which allows large-scale development.
Microencapsulated Pesticides Market Segment Analysis – By Application
Agriculture sector held the largest share in the microencapsulated pesticide market in 2019 and is projected to grow at a CAGR of 8.9% during the forecast period 2020-2025. Compared to traditional formulations such as emulsifiable concentrates and suspension concentrates, the growing market for microencapsulated pesticides allows reducing the application rate by 10-15 times. Leaching, evaporation, and degradation losses can be caused by the direct application of non-microencapsulated pesticides. Microencapsulated pesticides are therefore preferred more in agriculture, as they provide protection from direct interaction with the environment for the pesticide molecules. Regulated release of pesticides by microencapsulation enhances efficiency. It is an effective method for reducing environmental and health risks and Maximum Residue Level issues in agricultural products that are exported. We can reduce soil infertility using these pesticides by targeting pests which can improve the market growth.
Microencapsulated Pesticides Market Segment Analysis – By Geography
The Asia Pacific region held the largest share with 38.5% in the microencapsulated pesticides market. The food & agriculture industry is one of the region’s main contributors to the economies. Rising demand for food products is expected to drive revenue growth for microencapsulated pesticides in the Asia Pacific due to the increasing population coupled with favorable government policies regarding pesticide consumption. According to the Worldometer, the consumption of pesticides in 2017 for China, Australia, India, Japan, and South Korea was accounted to be 1,763,000 tons, 63,416 tons, 52,750 tons, 52,249 tons, and 20,043 tons respectively. In May 2019, under the GEF 7-agriculture chemicals program, FAO India conducted a national consultation child project on “extremely dangerous pesticide use in agriculture and strategy to tackle their residual effects”. In collaboration with the GEF Secretariat, the FAO is in the process of developing a global agricultural chemicals project to replace persistent organic contaminants (POPs) and highly hazardous pesticides (HHPs) used in the global food supply chain, besides the disposal of obsolete pesticides and the disposal of toxic plastics used in agriculture.
Microencapsulated Pesticides Market Drivers
Increasing Innovation in Pesticide Formulations
For manufacturers, who benefit from the economic opportunity associated with pesticide sales, as well as other stakeholders concerned with the environmental impacts caused by pesticide use, advances in pesticide formulation are important. Nanosized encapsulated pesticides provide a wide variety of improved functionality, including controlled release and improved efficacy. The analytical and toxicological effects of encapsulation are uncertain, given the existence of nanosized capsules in current-use pesticide formulations. Among the creative formulations on the market, encapsulated pesticides give a number of attractive features including decreased human exposure to active ingredients, managed release, longer residual concentrations, removal of organic solvents, and improved efficacy. Encapsulation techniques use a three-dimensional membrane that surrounds active ingredients, shielding them from direct contact with the chemical environment around them.
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Microencapsulated Pesticides Market Challenges
The high production cost of microencapsulated pesticides
The cost of microencapsulation can vary greatly, and depends largely on the technique employed. Some techniques require specialized equipment, whereas others do not. Some methods have used costly chemicals for procedures, while others have used very cheap materials. The heat-involving processes are often more expensive than those not. Continuous phase removal to produce a “dry” product would require an additional processing step adding to the cost. Some goods, particularly those of high value or low volume, can absorb such an increased cost better. It is important to employ one of the cheaper techniques to encapsulate high volume products or those which generate a low-profit margin economically.
Microencapsulated Pesticides Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the microencapsulated pesticides market. In 2019, the market of microencapsulated pesticides has been consolidated by the top five players accounting for xx% of the share. Major players in the microencapsulated pesticides market are Syngenta, BASF, Bayer AG, FMC Corporation, Monsanto, ADAMA Agricultural Solutions Ltd., FMC Corporation, ECOSAFE Natural Products Inc., Reed Pacific Pty Limited, GAT Microencapsulation, and Belchim Crop Protection among others.
In December 2016, Belgian company Belchim Crop Protection has purchased the agrochemical firm Engages Agro USA, LLC of America.
The microencapsulated pesticide is used by spray technology, where spray drying is commonly used because of its function of turning the liquid product into dry powdered particles. This spray technology is a cost-effective technique that is seeing a worldwide rise in demand.
Constant population growth has led to increased demand, which has in turn increased food demand. For instance, according to the Population Reference Bureau report the world population is estimated to reach up to 9.8 billion by the end of 2050, which will drive the market for encapsulated pesticides in the forecast period.
Growing the pests that have resulted in large-scale crop destruction and continual technical advancements has culminated in a rise in the demand for microencapsulated pesticides over the projected timeframe.
Due to the COVID-19 pandemic, industries are being lockdown and also raw material is not being supplied for manufacturing goods as a result to which the market is being highly affected across the globe worldwide.
Related Reports :
A. Botanical Pesticides Market
B. Herbicides Market
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