Dimethoate Market Size Forecast to Reach Around $1 Billion by 2025

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Dimethoate Market size is forecast to reach around $1 billion by 2025, after growing at a CAGR of 5% during 2020-2025. Dimethoate is an organophosphate insecticide with a camphor-like odor. Dimethoate is extensively used against a broad range of insects and pests like aphids, mites, thrips, and whiteflies which infect a number of crops like cotton, olives, mites, potatoes, tea, tobacco, and other vegetables. Rise in the global food demand and low cost with efficient output drive the dimethoate market. Globally demand for Dimethoate market is expected to increase due to increased use of the chemical in agriculture, declining agricultural land, and growing population. However, stringent regulations about the utility & distribution of dimethoate pesticides and eco-friendly substitutes of dimethoate pesticides like Buprofezin & Imazamox, may act as a restraint for the growth of the market.

Dimethoate Market Segment Analysis – By Type

Emulsifiable Concentrate (EC) segment hold the largest share of more than 35% in the dimethoate market in 2019. Emulsifiable concentrates are oily liquid formulations that are prepared by dissolving a certain amount of pesticide in organic solvents such as benzene, toluene, xylene, and solvent oil, and also contain surfactants and other additives. ECs are simple to manufacture, have good chemical stability and spontaneous emulsification upon dilution. These set of properties augments the demand for emulsifiable concentrate (EC) dimethoates. However, main disadvantage of using EC is that they contain flammable organic solvents that can lead to high-production costs, increased combustibility, and risks of explosion.

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Dimethoate Market Segment Analysis – By Crop Type

Agricultural crops segment dominates the dimethoate market with a share of more than 55% in 2019. According to the United Nations Organization (UNO), world population is projected to reach 8.5 billion in 2030, and to increase further to 9.7 billion in 2050. The growing population has increased the demand of cereals, oilseeds, and vegetables, which in turn boost the agriculture sector along with the use of dimethoates to protect crops, fruits and vegetables from insects to improve the per hectare production and fulfill the ever-growing demand for food. The Organisation for Economic Co-operation and Development has forecasted that global cereal production is projected to expand by 13% by 2027, subsequently augmenting the growth of dimethoate market. Also, according to Trade Map, value of total cereals imported worldwide increased from $ 110.16Mn in 2017 to $ 119.13 Mn in 2018.

Dimethoate Market Segment Analysis – By Application

Insecticides segment holds the largest share of more than 40% in the dimethoate market in 2019. The insects damage the crops by feeding over the leaves, stems, fruits, and roots of the plants. This causes injury to the plant part and promotes the viral, fungal, and bacterial infections resulting in the plant death. Accelerating use of dimethoate for eradication of insects such as grasshoppers, caterpillars, beetles is driving the growth of the market. Dimethoate acts as a cholinesterase inhibitor that block the normal breakdown of acetylcholine, the main neurotransmitter that functions in both the peripheral nervous system and the central nervous system. Acetylcholine can then build up, causing a “jam” in the nervous system and lead to death of insects.

Dimethoate Market Segment Analysis – By End-Use Industry

Based on the end-use, the foliar segment holds the largest share of 30% in the dimethoate market in 2019. Foliar feeding is an effective technique of applying pesticides directly onto the crops. Direct contact of pesticide with pests and insects results in faster application of dimethoate. Dimethoate affects the central nervous system of pests. Destruction of the nervous system kill the insects and results in better crop productivity. Moreover, other mode of application such as soil treatment and post-harvest takes sufficient time in eliminating pests and thus, less preferred as compared to foliar application.

Dimethoate Market Segment Analysis – Geography

Among the regions, the Asia Pacific is projected to witness the highest CAGR of around 7% in the global market during the forecast period. Rapid industrialization and urbanization in emerging economic nations like China, India, and Malaysia has decreased the farming land further proliferating the use of dimethoate for pest elimination and high agricultural output. According to China’s Ministry of Natural Resources country’s arable land declined by 60,900 hectares and fell to 134.86 million hectares in 2017. Furthermore, increase in commercial farming coupled with rapid population growth has fueled the growth of the dimethoate market. According to the Indian governmental report, total consumption of the food and beverage segment domestically is expected to reach $1.142 Tn by 2025, subsequently aiding the demand for dimethoate.

Dimethoate Market Drivers

FDI and government initiatives to boosts agriculture sector

Government’s initiatives to increase the crop yield to mitigate the growing food demand drive the growth of the dimethoate market. For instance, in 2016, according to China’s Ministry of Agriculture, over 1,300 Chinese enterprises had overseas investments in agriculture, forestry, and fisheries valued at $26 billion. Also, in 2018, FDI in the U.S. agribusiness industry totaled more than $14 billion. Thus, owing to the various initiatives by the government and huge investments, agricultural production is increasing in the various regions. Thus, with the increasing crop production the demand for dimethoate is also increasing for elimination of mites and insects, which acts as a driver for the growth of the dimethoate market.

High efficacy of dimethoate pesticides or insecticides

Insects or pests are getting adapted to the conventional insecticides hence the demand for organic compounds such as dimethoate is growing. The dimethoate is effective against wide range of pest and destroy nervous system and suppresses metabolic growth of an organism. Due to their high efficacy they find applications in various agrochemical products such as insecticides, fungicides, weedicides, and acaricides. Thus, the resistance of insects towards various pesticides has made farmers to opt for Dimethoate as an option to fight against the crop eating insects which in turn boosts the market growth.

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Dimethoate Market Challenges

Environmental and Health hazards of dimethoate

The environmental and health hazards of dimethoate are the major factors hampering the growth of the dimethoate market. The use of dimethoate in insecticides contaminates the ground water which and may enter the food chain. Exposure to dimethoate may cause hypotension, chest pain, lower heart rate, damages nervous system and even lead to death. Owing to its adverse effect many countries are banning the use of dimethoate in agrochemical products. For instance, in 2012, Fresh Produce Exporters Association of Kenya has banned use of dimethoate on vegetables and fruits that are produced to export to Europe. In addition, in April 2020, France banned the import of fresh cherries from countries where the use of the chemical dimethoate is permitted in cherry production.

Emergence of COVID-19

Food distribution channels of almost all countries across the world have been highly disrupted due to COVID 19 crisis. Wastage of fresh vegetables, fruits, and milk due to inability by farmers or entrepreneurs to transport them from point of production to local markets or supermarkets in nearby towns or cities is negatively impacting the agriculture sector. World Trade Organization forecasted that the global trade will fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the world. In addition, India’s fruits and vegetables export declined by 16% and reached at $1 billion for the period between April 2019 and January 2020, from $1.19 billion for the same period the previous year, according to the Agricultural and Processed Food Products Export Development Authority (APEDA). Thus, decline in the growth of agricultural sector hampers the dimethoate market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the dimethoate market report. In 2019, the market of dimethoate has been consolidated by the top 10 companies accounting for xx% of the share. Major players in the dimethoate market are Chengdu Huaxi Industrial Co., Ltd, Bio Agro Chemicals, Rallis India Ltd, Sunfarm Agrochemicals Limited, Shenzhen King Quenson Industry Co., Ltd., FMC Corporation, Sigma-Aldrich, Inc, United Phosphorus Limited and Qingdao Unico International Trade Co., Ltd., among others.

Acquisitions/Technology Launches

In August 2018, BASF closed the acquisition of businesses and a range of assets from Bayer, which would help the company to strengthen the market position in agricultural solutions.

Key Takeaways

The decline in agricultural land and growing food demand leading to demand for efficient and highly productive agricultural processes are expected to drive the market for dimethoate.

The demand for Dimethoate is projected to grow at greater velocity in the South America and Africa region due to escalating in food demand and availability of the agricultural land

The European market is witnessing a shift towards bio-based insecticides and pesticides. This may restrain the growth of the dimethoate market.

The outbreak of coronavirus pandemic has hampered the growth of the market due to boundary closure, supply chain disruption and social distancing norms.

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https://www.industryarc.com/Report/15905/insecticides-market.html

B. Seed Treatment Fungicides Market

https://www.industryarc.com/Research/Seed-Treatment-Fungicides-Market-Research-505022

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Contact Information:

Venkat Reddy
Sales Director
Email: [email protected]
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677