Organophosphates are the esters of phosphoric acid. These are produces by the reaction of phosphoric acid with alcohol. Organophosphates are the source of insecticides, pesticides, herbicides, and fumigants. Organophosphates are used in the crop protection, ornamental crop protections, garden, and home. These are act by inhibiting the acetylcholinesterase enzyme in insects and cause the nervous and respiratory damages result in the death of insects/pests
Increase in the global food demand coupled with rise in focus on efficient crop outputs with low cost drive the global organophosphates compound. Change in climatic conditions results in insect growth on agriculture crops, grow in demand for the adoption of ornamental crops and gardens in residential and corporate areas, rise in awareness about the organophosphates among the farmers, increase in population demand for the quality food products, government support for the agriculture sector, broad target spectrum of organophosphates, and rise in R&D for the development of newer products are anticipated to fuel the global market over the forecast years. However, stringent regulations for the organophosphates usage, availability of alternative products for the organophosphates, and acute toxicity of organophosphates towards the environment are hinder the growth of global market.
Global market was valued at US $ XX Mn and expected to grow at 5.5% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Global market is segmented based on ingredient type, category, and application
Based on ingredient type, global market is segmented into the following
Based on the category, global market is segmented into the following
Based on the application, global market is segmented into the following
- Crop Based
- Fruits and Vegetables
- Cereals and Grains
- Non-Crop Based
- Turf and Ornamental Grass
Regional Analysis: Global Market
Geographically, global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America market is poised to grow due to rise in population demand for the quality food products, increase in the R&D expenditure for the development of newer products, and high awareness about the organophosphate products are anticipated to propel the market. Europe market is driving by rise in adoption of newer organophosphates, rise in focus on the adoption of turf and ornamental crops, presence of huge number of market players in the Europe region are surge the market. Asia Pacific market has prominent share attributed to increase in the usage of chemical pesticides coupled with rise in disposable income, grow in agriculture farming in India and China, and government support for the better crop yield with low cost are boost the market.
- BASF SE (Germany)
- Adama Agricultural Solutions Ltd. (Israel)
- Bayer Cropscience (Germany)
- I. du Pont de Nemours and Company (U.S.)
- Syngenta AG (Germany)
- DOW Agriscience LLC (U.S.)
- FMC Corporation (U.S.)
- Nufarm Ltd. (Australia)
- The Mosaic Company (U.S.)