Wilmington, Delaware , Sept. 25, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Acephate Market by Form (Granule and Spray/Pellet), Application Method (Spraying, Dipping, Hand Dressing and Others), and Application (Agriculture, Forestry, Horticulture and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the acephate market was valued at $1.3 billion in 2023, and is estimated to reach $2.2 billion by 2033, growing at a CAGR of 5.4% from 2024 to 2033.
Prime determinants of growth
The global acephate market is driven by rapid shift towards intensive farming practices to meet the increasing food demand which in turn has led to higher pest incidence. Crops are grown in close succession, providing continuous food sources for pests. In such scenarios, the reliability and effectiveness of acephate are crucial in protecting crops and ensuring consistent yields. The rising need to protect high-value crops, such as fruits and vegetables, further drives the demand for acephate, as these crops are highly susceptible to pest damage and require robust protection measures. However, acts and regulations led by several government agencies such as the U.S. ENVIRONMENTAL Protection Agency (U.S. EPA), European Union (EU), and others may restrain customers from purchasing acephate-based insecticides; thus, hampering the growth of the acephate market during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $1.3 billion |
| Market Size in 2033 | $2.2 billion |
| CAGR | 5.4% |
| No. of Pages in Report | 350 |
| Segments covered | Form, Application Method, Application, and Region. |
| Drivers | Rise in agricultural demand and paste management Economic Considerations |
| Opportunities | Technological Advancements |
| Restraints | Regulatory Framework |
The spray/pellet segment to maintain its lead position during the forecast period.
The demand for spray/ pellet forms of acephate is widely used due to their ease of application and effectiveness in pest control. Spray forms allow for uniform coverage of crops, ensuring that the pesticide reaches pests efficiently, while pellets provide a targeted, slow-release action that extends the duration of pest control. These forms are user-friendly, cost-effective, and versatile, making them suitable for various agricultural practices. Additionally, their systemic properties enable acephate to be absorbed by plants and protect them from within, enhancing its efficacy against a wide range of pests. This versatility and effectiveness drive the widespread use of acephate in these forms.
The spraying segment to maintain its lead position during the forecast period.
The spraying application method of acephate is widely used due to its efficiency in providing uniform coverage over large areas, ensuring effective pest control. Spraying allows the insecticide to reach both visible pests and those hidden within foliage, maximizing its impact. It is also quick and convenient, saving time and labor for farmers. Additionally, the systemic nature of acephate ensures it is absorbed by the plants, providing prolonged protection. This method is versatile, suitable for various crops, and can be easily integrated into existing agricultural practices, making it a preferred choice for farmers..
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The agriculture segment to maintain its lead position during the forecast period.
The demand for acephate in agriculture is increasing due to its broad-spectrum efficacy against a wide range of pests, helping to ensure high crop yields and quality. Its systemic properties provide prolonged protection by being absorbed into plants, making it effective in managing pests that other pesticides might miss. Additionally, acephate is cost-effective, making it accessible for farmers, especially in developing regions. Its role in integrated pest management (IPM) strategies helps manage pesticide resistance, contributing to sustainable farming practices. These factors collectively drive the growing demand for acephate in agriculture.
Asia-Pacific to maintain its dominance by 2033
The demand for acephate is growing in the Asia-Pacific region due to several factors. Firstly, the region's diverse agricultural landscape is prone to high pest pressures, necessitating effective pest control solutions like acephate. Secondly, the increasing adoption of intensive farming practices to meet rising food demand exacerbates pest issues, driving the need for reliable pest management tools. Additionally, economic factors such as acephate's affordability make it accessible to farmers in developing countries within the region. Furthermore, supportive regulatory frameworks and the prevalence of traditional agricultural practices contribute to acephate's widespread use in the Asia-Pacific, fueling its growing demand in agriculture.
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Leading Market Players: -
- Shiv Agro Chemicals
- Ram Shree Chemicals
- Vizag Chemicals
- Bayer AG
- Sinon Chemical Group
- Drexel Chemical Company
- ADAMA Limited
- Zhengzhou Delong Chemical Co., Ltd.
- Rallis India Limited
- Habei Veyong Bio-Chemical Co. Ltd
The report provides a detailed analysis of these key players in the global acephate market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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