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(MoneyNewsWire.Net, May 02, 2018 )
The Latin America Market had a Insecticides market value of USD 2.16 billion in 2016 and is forecasted to exhibit a CAGR of 5.5% and reach USD 2.83 billion by 2021.
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Insecticides are a class of pesticides used to kill or regulate the insects that destroys the crops. They also increase the yield significantly. Based on Residual Activity, Insecticides are mainly of two types. They are Systematic Insecticides and Contact Insecticides. Systematic Insecticides are ones which have long term residual activity while Contact Insecticides have no residual activity.
Rising Commercial Pest management services, increasing concerns of Insect transferrable diseases, rising demand for food grains owing to the increasing population, increasing Crop losses due to pests, advancements in agricultural practices or techniques and fall in per capita farm land are some of the major factors driving the market. However, some of the factors like improper handling of insecticides, and its toxic properties are slowing down the growth of the market.
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Latin America Insecticides Market is segmented based on Type, Crop Type, Mode of Application and Form. Based on Type, market is segmented into Pyrethroids, Organophosphorus, Carbamates, Organochlorine, Botanicals and Others. Based on Crop Type, market is segmented into Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses and others. Based on Mode of Application, market is segmented into Foliar Spray, Seed Treatment, Soil Treatment, and Post-harvest. Based on Form, market is segmented into Sprays, strips and Baits. Organophosphorus segment commanded the market with highest share as it is cheaper than its alternatives. Bait segment is estimated to be the fastest growing segment owing to its easy to use properties. Geographically, market is further segmented into Brazil, Argentina and Mexico.
Major Players in the market include Dow Chemical Company, BASF SE, E.I. DuPont De Nemours & Company, Bayer Crop science AG, Cheminova As, Nufarm Limited, Makhteshim Agan Industries, Syngenta AG, Sumitomo Chemical Company Ltd., and FMC Corporation.
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