As per Future Market Insights, the Aluminum Phosphide market is anticipated to attain a value pool of US$ 180 Million by 2023-end. Global demand for Aluminum Phosphide is expected to rise at a CAGR of 3.1% to US$ 245 Million in 2033.
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| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 180 Million |
| Projected Market Value in 2033 | US$ 245 Million |
| Growth Rate (2023 to 2033) | 3.1% CAGR |
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Aluminum phosphide is a fumigant used to control insects and rodents. They’re primarily used for indoor fumigation of raw agricultural commodities, animal feeds, processed food commodities, and nonfood commodities in sealed containers or structures, and for outside fumigation of burrows to manage rodents and moles in non-domestic areas, noncropland, and agricultural areas. It is projected that this market will grow with a CAGR of 2% to 3% in the upcoming years of 2023 to 2033.
The increase in the demand for pesticides owing to increase in the demand for food is estimated to enhance the growth of Aluminum phosphide market. Advancements in technology and developments in the agriculture sector are also the factors, which enhance the growth of this market.
The increasing infestation of pests and insects in warehouses and other crop storage rooms due to biotic and abiotic factors, increased awareness of crop protection chemicals, and urbanization in developing markets can all be attributed to the rise in popularity of agricultural fumigants which is driving the market.
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Fumigation technology helps in preventing post-harvest losses to take care of the standard of agricultural commodities. In addition, application helps within the thorough cleansing of storage areas, silos, or warehouses. This is often utilized as an additional preventative technique in pre-harvest cleaning for the storage of grains.
Aluminum phosphide generates toxic colorless phosphine gas that can kill the rodent. Compared to other phosphides such as zinc phosphide and calcium phosphide, hydrolysis of aluminum phosphide produces very little di-phosphane.
Thus, it has minimum chance to self-ignite in air. Therefore, this product is preferred as a source of phosphine than the other phosphides such as calcium phosphide. This is one of the key factor of the increasing global Aluminum phosphide market.
Asia-Pacific is projected to be the fastest growing segment owing to the factors such as increase in the investment by the major companies in the developing nations, developments in the agriculture sector and increase in the demand for pesticides.
Due to significant development in areas of food security in the Asia Pacific region, it is predicted that it will lead the Aluminum phosphide market in the upcoming decade.
Countries like India, Vietnam, Philippines, and China are planning to build grain storage facilities. This is projected to boost the market for this compound as a fumigant.
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North America is anticipated to be a large-scale consumer of aluminum phosphide. The increase in the technology and increase in the demand for pesticides is likely to aid in the market growth in the coming years.
The increase in the investment by the major companies in grain storage facilities and increase in the demand for pesticides are creating higher opportunities for the growth of market. Increasing activities and investments in to the research and development sector of the agricultural industries will boost its market.
Some of the leading manufacturers and suppliers are,
Key players are investing in Technology launches, acquisitions and R&D activities. As bio-based products consist of fewer chemicals and are made up of natural ingredients, they eliminate the risk of any hazard.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Aluminum Phosphide Market
