Acephate Market: Demand Analysis and Growth Forecast
Protection of food from insects is one of the major concerns rising in the agriculture industry. The crops cultivated worldwide is getting affected by different species of insects. This is a matter of concern because it raises the questions on food quality and loss of yield. To counter this, acephate can be used as a spray, granules, and liquid spread as well as it can also be mixed with the soil.
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(2018 - 2023)
Acephate is basically an insecticide known as organophosphate foliar scientifically. This insecticide is primarily used to control multiple types of insects that tend to destroy the crops or the plants. It gives protection to crop fields, citrus trees, and green fields from insects like leaf miners, sawflies, caterpillars, and thrips. IndustryARC market research report projects profitable progression in the global acephate market during the forecast period of 2018 to 2023.
Acephate Market: Key Drivers and Disruptive Trends
The growth of the agricultural industry is one major key driver of this market. Moreover, the pressure of catering the global food demands and protecting the crops from pests is something that drives this market. However, this chemical is known to for the emission of toxic fumes such as phosphorus, sulfur, and nitrogen oxides during the production of acephate. This factor has come under stringent regulations from several governments and hence is acting as a restraint over the market.
Acephate Market: Leading Segments
The market is segregated into the following geographies: North America, South America, Asia-Pacific, Europe, and the Middle East and Africa. The Asia-Pacific region has the highest demands of acephate while Germany and the U.S. are the largest producers of this insecticide. Following the trends, the demand from the European Union is expected to rise in the near future. On the basis of application, this market can be categorized into agriculture, forestry, horticulture, and others.
Acephate Market: Competitive Landscape
Some of the major players in this market are Bayer Crop Science AG, Drexel Chemical Company, Gujarat Pesticides Private Limited, Kenvos Biotech Company Limited, and DuPont. The German company Bayer Crop is striving hard to fulfill the requirements of the crop for the future generation through their innovations. The Indian giant Gujarat Pesticide Private Limited has a numerous number of products segmented under insecticides, fungicides, and herbicides, which helps in this agriculture-dependent heavily populated country.
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The acephate market is anticipated to see a rise due to the global food demands and the utter need to save food from insects. This chemical is also used to protect green fields such as golf course, fields, and so on. Even though this chemical has some hazards related to health, the market is anticipated to continue flourishing in near future.
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