The BRICS crop protection chemicals market will grow at a CAGR of 6.2% from 2017 to 2022 to reach USD 29,192.1 million by 2022, according to this latest publication from Meticulous Research. BRICS crop protection chemicals market is driven by growing population across this group of countries which creates the burden on the agricultural sector to increase the production in order to ensure its entire population is well fed. Also, the factors like reduction in arable areas and growing losses of crops because of pests stimulates the end farmers to increase the use of crop protection chemicals to ensure the desired yield. However, the factors such as stringent government regulations, growing emphasize on the biotic fertilizers, and increasing concern over side effects of pesticides hinders the growth of this market to some extent. The Brazil & India are increasingly using crop protection chemicals which certainly offer many opportunities for all the stakeholders in this market. Also, the innovative programs like Integrated Pest Management (IPM) offers significant opportunities for the crop protection chemicals market.
BRICS crop protection chemicals market is segmented by type (synthetic, natural), use (herbicides, insecticides, fungicides, and others), crop types (cereal & grains, oilseed & pulses, fruits & vegetables), application (spraying, dusting, seed treatment, soil treatment, volatilization, and others), and form (solid and liquid).
Synthetic chemicals dominate the BRICS crop protection chemicals market. Most of the farmers across the globe rely heavily on synthetic chemicals to protect the crops as they are more effective over the natural crop protection chemicals for the larger agricultural lands. Despite this, there always has been a debate over the use of synthetic crop protection chemicals as they pose a serious threat to the environment and other biological agents that are not harmful to the crops.
Geographically, the BRICS crop protection chemicals market is segmented into Brazil, Russia, India, China, and South Africa. Brazil accounted for the major share in the BRICS crop protection chemicals market in 2016, followed by China, and India. The Brazilian crop protection chemicals market has experienced a rapid expansion over the last decade. According to the Brazilian National Health Surveillance Agency (ANVISA), Brazil consumes more than 1,000,000 tons of crop protection chemicals annually, of which around 45% are herbicides, followed by fungicides (14%), and insecticides (12%); whereas in China, rising need to ensure the food safety for its continuously soaring population is the key factor driving the growth of this market.
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The key players operating in the BRICS crop protection chemicals market are BASF SE, Syngenta AG, E.I. DUPONT De Nemours And Company, FMC Corporation, Sumitomo Chemical Co., Ltd, Bayer CropScience AG, Nufarm Limited, The Dow Chemical Company, Monsanto Company, ADAMA Agricultural Solutions Ltd., and Platform Specialty Products Corporation.
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