Phosphine Fumigants Market: By Fumigant Type (Calcium Phosphide, Aluminum Phosphate, Magnesium Phosphide, Others), By Crop Type (Fruits and Vegetables, Cereals and Grains, Others), By Formulation (Liquid Formulation, Solid Formulation), By Application (Warehouses, Raw Agricultural Commodities, Stored Processed Food, Others), and Geography

 

Phosphine Fumigants Market size was valued at USD 2.4 billion in 2022 and is poised to grow at a CAGR of 4.5% from 2023-2029. Fumigation is the process of controlling the growth of pests by filling a complete area with fumigants to suffocate or poison the pests. Phosphine fumigants are widely preferred in the fumigation process to control rodent, insect, and rabbit infestation in the stored grains. The major advantage of phosphine fumigants is that insects are controlled without moving the grains. Phosphine fumigants kill insecticides slowly by releasing phosphine gas. The most commonly used phosphine fumigants are magnesium, aluminum, and calcium phosphides. They can be used in processed food, agriculture commodities, and warehouses among others. The advantages of phosphine fumigants compared with other agriculture fumigants is a key factor in to increase in the revenue of the phosphine fumigants market. An increase in R&D activities for the development of newer phosphine fumigants with low cost is also expected to propel the growth of the phosphine fumigants market. The market is predicted to develop due to factors such as increased awareness of advanced ways of application of fumigation technology, increased insect population due to climatic changes, and the phase-out of methyl bromide fumigants. In expanding markets like Brazil and India, there is a lot of room for expansion, which opens up new chances for market players. In addition, an increase in the demand for quality food products with better yield and change in farming practices drives the market over the forecast period. Moreover, acquisitions and mergers, collaborations, business expansion, and product launches are the key strategies followed by the market players for generating more revenue in the phosphine fumigants market. For instance, in October 2014, Cytec Industries Inc. expanded its phosphine fumigation business in Canada by completing the Welland manufacturing plant doubling the company's phosphine and phosphine products manufacturing capacity.