(MENAFN- GlobeNewsWire - Nasdaq) As Agriculture shifts toward sustainable practices and innovations, the demand for nematicides is expected to grow.
Wilmington, Delaware, United States, Transparency market Research, Inc., Sept. 25, 2024 (GLOBE NEWSWIRE) -- The global nematicide industry was worth US$ 1.3 billion in 2023. A CAGR of 3.5% is expected from 2024 to 2034, resulting in US$ 1.9 billion by 2034. The variety of chemical categories utilized in this class of pesticides has been expanded with the introduction or development of various new nematicides.
The future success of novel nematicides will depend on how well they work in the field, how well they can continuously decrease nematode damage, and how they affect crop vigor and productivity.
Due to the drawbacks and safety issues with conventional agrochemicals, innovative, highly efficient biocontrol agents that abide by biosafety standards have been developed. Bionematicides, which use both bacterial and fungal nematicides, are becoming increasingly popular due to the demand for sustainable farming methods, regulatory support, and research findings.
The IRAC Nematode Working Group was formed to examine the potential for resistance in novel nematicides and create a categorization system for their mechanism of action comparable to that of insect and acaricides. Nematicides can be more effectively managed and used with this classification scheme.
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Global Nematicide Market: Competitive Landscape
The global nematicide industry is adopting organic and inorganic expansion methods to survive fierce competition. This field is largely driven by the development of sustainable pesticides against nematodes.
In addition to targeting parasitic worms, they are developing ingredients that reduce greenhouse gas emissions while protecting the soil. TMR has profiled the following nematicide manufacturers in its extensive report:
DuPont Bayer AG Syngenta Group (NI) B.V. FMC Corporation Nufarm PI Industries Adama Agricultural Solutions Ishihara Sangyo Kaisha, Ltd. Valent U.S.A. LLC
Key Developments
In September 2023, Bayer's Crop Science division announced the registration of Emesto Complete, a combination fungicide and insecticide for seed-piece treatments, and Velum Rise, a combination fungicide and nematicide. Providing Canadian potato growers with leading crop protection products through Emesto Complete and Velum Rise has been a priority for Bayer for years. In December 2023, Syngenta launched CERTANO, a microbiological bionematicide developed and tested in sugarcane fields across Brazil. With this new technology, the company unveils its first biological specifically targeted at sugarcane cultivation, offering consistent control with immediate and prolonged effects by being a biofungicide, bionematicide, and a growth promoter.
Key Findings of the Market Report
The carbamate market is expected to be a major driver of nematicide demand in the coming years. Based on crop, nematicides are expected to be in high demand in oilseeds and pulses. The Asia-Pacific region held the largest market share in 2023 for nematicides. The nematicide market is experiencing growth due to the adoption of bio-nematicides.
Global Nematicide Market: Growth Drivers
As the world's population rises, agricultural production must increase to maintain food security. Since nematodes can drastically lower crop yields, using effective nematicides is crucial to preserving agricultural output. Nematode populations frequently rise with agricultural expansion into new areas or intensification within existing ones because of monocropping and other agricultural practices. Therefore, Effective nematicides are required to safeguard crops due to this growth. Sustainable agriculture techniques are in demand and becoming increasingly popular. Eco-friendly pest control methods are implemented in addition to reducing chemical inputs. Nematicides with lower environmental impact and less effect on non-target creatures are in greater demand. Due to ongoing research and technical developments, eco-friendlier and effective nematicide formulations are being developed. This covers the application of innovative active components, precise application methods, and biological control agents.
Global Nematicide Market: Regional Landscape
The nematicide market is expected to be driven by demand from Asia-Pacific. As cities expand across Asia Pacific, urbanization puts agricultural land under stress. Agricultural production and intensification increase when nematodes are effective at preserving crop yields. Agricultural activities frequently spread into marginal regions that may have larger nematode populations as arable land becomes more limited as a result of urbanization and industrialization. To maintain sustainable agricultural production in these locations, nematode infestations must be controlled with the help of nematodes. Government laws and rules pertaining to the use of pesticides have a big impact on the Asia-Pacific nematicide industry. Concerns about food safety, human health, and environmental degradation are causing people throughout Asia-Pacific to become more conscious of the significance of sustainable agriculture. Rapid developments in agricultural technology and innovation, such as the creation of novel nematicide formulations, precise application methods, and biological control agents, are being observed throughout the Asia-Pacific region. These developments aim to improve the region's nematicide use's sustainability and efficacy. Asia-Pacific nations are significant participants in the world's agricultural trade, acting as importers and exporters of agricultural goods.
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Global Nematicide Market: Segmentation
By Product
Fumigant Carbamate Organophosphate
By Crop
Oilseeds & Pulses Cereals & Grains Fruits & Grains
By Region
North America Europe Asia Pacific Latin America Middle East & Africa
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