(EMAILWIRE.COM, July 22, 2019 ) The Agricultural Fumigants market is estimated to be valued at USD 1.59 Billion and is projected to grow at a CAGR of 4.10% from 2017, to reach USD 1.94 Billion by 2022. The growth of this market can be attributed to the growing focus on increasing agricultural production, increase in focus on the reduction of post-harvest losses, and growing usage of fumigants for the production and storage of cereals. However, there are several region-specific regulations on the usage of agricultural fumigants by various governing bodies, which act as a restraint for the market growth. Additionally, accumulation of residue on grains, fruits, and proposed ban on methyl bromide are also expected to affect the market growth.

Phosphine estimated to be the largest segment in 2017
The phosphine segment is estimated to account for the largest share of the agricultural fumigants market in 2017. Phosphine-based products are experiencing steady demand in industrialized countries and occupy a significant share of the agricultural fumigants market, especially in the European region. The phosphine segment is mainly driven by its multifunctional nature contributed by the effective fumigant action in killing nematodes, fungi, and weeds. In addition, the increasing use of soil agricultural fumigants has led to the growing demand for phosphine agricultural fumigants for better crop production and reduced post-harvest losses.

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Tarpaulin fumigation is estimated to be the largest segment in 2017
The tarpaulin fumigation segment is estimated to account for the largest share of the agricultural fumigants market, in terms of value, in 2017. The rising criticality of safety in different fumigation methods employed and the varying costs required for each method affect the growth of the tarpaulin fumigation segment. The growth of the tarpaulin fumigation segment is driven by the efficient action, effectiveness, and its increased use in the agricultural fumigants market.

North America is estimated to be the most lucrative market for agricultural fumigants
In 2017, North America is estimated to hold the largest share of the global agricultural fumigants market. The major drivers for this significant share are the influence of the growing demand for alternative pest control methods, strict government regulations regarding food safety, and wide product availability which further boosts the market growth. The North American market is driven by countries such as the US and Canada.

Licenses or special permits required to handle fumigation services and increasing labor costs and other expenses are posing challenges to the agricultural fumigants market. For instance, the practice of pest control in Florida is strictly regulated under the provisions of the Structural Pest Control Act, Chapter 482, Florida Statutes (F.S.). This law is administered and enforced by the Department of Agriculture and Consumer Services in the State. Further, safety testing requires substantial investments. Large investments in R&D activities, laboratories, and research equipment, volatile nature of fumigants accumulation of residue during fumigation, and hiring trained professionals also pose a barrier for this market.

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The market is dominated by key players such as BASF (Germany), Syngenta (Switzerland), ADAMA (Israel), Dow Chemicals (US), and FMC (US). Other players include UPL (India), Degesch (US), Nufarm (Australia), American Vanguard (US), Nippon (Japan), Arkema (US), and Rentokil (UK). The key players have adopted strategic developments such as new product launches, expansions & investments, mergers & acquisitions, agreements, collaborations, joint ventures, and partnerships to explore the market in new geographies.

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