WASHINGTON, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Phosphine Fumigation Market finds that increasing insect population due to climatic changes is expediting market growth. Primarily driven by increase in awareness about advanced modes of application of fumigation technology, the total Global Phosphine Fumigation Market is estimated to reach USD 988.4 Million by 2028, up from USD 649.3 Million in 2021, at a Compound Annual Growth Rate (CAGR) of 5.4%.
Furthermore, the expanding agrochemical industries in developing countries are also anticipated to augment the growth of the global Phosphine Fumigation market, states Vantage Market Research, in a report, titled “Phosphine Fumigation Market by Type (Aluminum phosphide, Magnesium phosphide, Calcium phosphide, Others), by Application (Stored processed food, Raw agricultural commodities, Warehouses, Others), by Form (Liquid, Solid), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Phosphine Fumigation Market:
- United Phosphorus Ltd. (U.S.)
- Cytec Solvay Group (U.S.)
- Degesch America, Inc. (U.S).
- Nufarm Limited (Australia)
- Adama Agricultural Solutions Ltd. (Israel)
- Agrosynth chemicals limited (India)
- Excel Crop Care Limited (India)
- Nippon chemical industrial Co. Ltd. (Japan)
- Royal agro organic Pvt. Ltd. (India)
- National Fumigant (South Africa)
Market Dynamics:
Driver: Increasing Insect Population Due to Climatic Changes
The increasing insect population due to climatic changes is anticipated to augment the growth of the Phosphine Fumigation market during the forecast period. The crop production and insect population are majorly impacted by the climate change and extreme weather events. With the dramatic increase in temperatures and carbon dioxide levels, Earth is expected to reach the crucial warming limit in the early 2030s. Temperature is considered to be the most important environmental factor which tends to affect the dynamics of the insect population. The increased global climate warming could trigger an expansion of invasive insect species and insect-transmitted plant diseases. As climate change aggravates the pest issues, there is a great need for future insect management strategies. These include monitoring climate and controlling insects and pest populations, which can be done with the use of Phosphine Fumigation treatment and lead to increase in demand for phosphine fumigants.
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Opportunity: Expanding Agrochemical Industries in Developing Countries to Stimulate Market Growth
The pesticides are widely used by the developing economies. Due to the increased level of crop production the demand for pesticide is also increasing, which prioritises high agricultural yields. The chemicals help control and monitor pests and also regulate plant growth, and deliver a way to increase yields in developing countries. Phosphine is the most widely used product in closed warehouses that helps to protect the harvested crops from insects and pest attacks. They can easily diffuse and penetrate into majorities of stored grains and it can actively perform fumigation action for more than a week, after the application. Most of the farmers use pesticide to protect their crops against pests which are often the main threat they face in developing economies. The changeable weather conditions related to global warming results in increase in the uncertainties related to crop yields. Furthermore, phasing out of methyl bromide fumigants is also expected to create more opportunities for the growth of the market.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the agricultural industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Phosphine Fumigation Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Phosphine Fumigation Market
North America has dominated the global Phosphine Fumigation market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the presence of multiple crop protection chemical manufacturers of in the region. Furthermore, the supportive measures by numerous regulations to protect farming are also expected to support the regional growth of the market.
Europe is likely to witness substantial growth in the Phosphine Fumigation market during the forecast period. This is attributable to the growing agriculture industry, aided by land availability and suitable weather conditions that lead to the vast production of multiple crops in the region. Additionally, the established regulations regarding the utilization of soil protection are also expected to support the growth of the Phosphine Fumigation market in near future.
Browse market data Tables and Figures spread through 174 Pages and in-depth TOC on "Phosphine Fumigation Market by Type (Aluminum phosphide, Magnesium phosphide, Calcium phosphide, Others), by Application (Stored processed food, Raw agricultural commodities, Warehouses, Others), by Form (Liquid, Solid), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/phosphine-fumigation-market-323643
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Phosphine Fumigation Market?
- How will the Phosphine Fumigation Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Phosphine Fumigation Market?
- What is the Phosphine Fumigation market drivers and restrictions?
- What will be the CAGR and size of the Phosphine Fumigation Market throughout the forecast period?
This market titled “Phosphine Fumigation Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 649.3 Million |
| Projected Market Size in 2028 | USD 988.4 Million |
| CAGR Growth Rate | CAGR of 5.4% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type: - Aluminum phosphide, Magnesium phosphide, Calcium phosphide, Others Application: - Stored processed food, Raw agricultural commodities, Warehouses, Others Form: - Liquid, Solid |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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