The Global Crop Protection Chemicals Market is boosted by recent increase in the production of these chemicals. Fortune Business Insights has published a report, titled “Crop Protection Chemicals Market Size, Share and Global Trend By Product Type (Herbicides, Insecticides, Fungicides), Origin (Synthetic Chemicals, Bio-based) and Geography Forecast till 2025,” which offers insights into various factors enabling growth in the market. According to the report, the global market was valued at US$ 50.62 Billion in 2017 and recent technological advancements are likely to drive this market to reach a value of US$ 68.82 Bn by 2025.
The global crop protection chemicals market is gaining traction due to recent technological advancements and approvals on the manufacture crop protection chemicals. Moreover, increasing awareness regarding the use of environment-friendly products has led to an increase in demand for sustainable crop protection chemicals. Backed by these factors, leading companies are focusing on introducing nature-friendly ingredients within crop protection chemicals. The trend advocating the lesser use of synthetic alternatives is backed by availability of natural ingredients due to the rising emphasis on research and development (R&D) of crop protection chemicals.
Relaxation in Regulatory Compliances is Encouraging Manufacturers
Less stringent rules for product approvals are encouraging many companies to invest in the manufacturing of these products. Furthermore, investment towards research and development of crop protection chemicals is poised to surge in the coming years. The aforementioned factors have had a direct impact on the global market and are likely to create growth opportunities in the market over the forecast period.
Increasing Demand for Biofuels to Drive the Market
Growth in biofuel crops farming in Latin America may boost the crop protection chemicals market in this region in the near future. Biofuels are derived from crops such as sugarcane, rapeseed, wheat, soybean and corn and these crops are produced in abundance. The crop protection chemicals market in Asia Pacific is likely to expand at a high rate due to the increasing demand for biofuels. The increasing demand for biofuels has lessened the dependency on conventional fuels and this factor may drive the regional market in the forthcoming years. Furthermore, restriction and strict regulations imposed on use of organic pollutants will fuel the demand for their product counterparts, mostly chemicals. This factor is expected to drive the crop protection chemicals market in the Asia Pacific.
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