[250 Pages Report] Global Profenofos demand is anticipated to be valued at USD 1.22 Billion in 2022, forecast to grow at a CAGR of 5%to be valued at USD 2 Billion from 2022 to 2032. During the projected period, the cotton sector is expected to dominate the worldwide Profenofos market.
| Report Attributes | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 1.18 Billion |
| Expected Market Value (2022) | USD 1.22 Billion |
| Anticipated Forecast Value (2032) | USD 2 Billion |
| Projected Growth Rate (2022 to 2032) | 5% CAGR |
Profenofos (C11H15BrClO3PS) is an organic thiophosphate that is used in agriculture as a broad-spectrum organophosphate pesticide.
Profenofos is available in amber or light yellow liquid form. It smells like garlic. Because it is extremely soluble in organic solvents, it makes it simple to apply pesticides to plants.
Profenofos is a chemical that is used in the production of foliar insecticides, miticides, and acaricides. It destroys insects and pests while also protecting crops. Profenofos is recognized as a class II hazard by the World Health Organization.
Profenofos is used as a pesticide to protect crops from damage caused by pests and insects. The chemical formula for Profenofos is (RS) -0-4-bromo-2-chlorophynyl. 0 ethyls S-Propylphosphorothioate It's a light yellow liquid with a garlic-like odor. Profenofos belongs to the chemical class organophosphate. It is quite stable in neutral and slightly acidic environments. Hydrolysis of Profenofos causes it to become unstable in alkaline settings.
Because it is extremely soluble in organic solvents, it facilitates the administration of pesticides to plants. Profenofos is used in insecticides and as a miticide. It is applied to crops to protect them from insects and pests.
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Due to dwindling cultivable area, there is a strong desire to raise agricultural production throughout the world, which has resulted in a rise in demand for Profenofos. This is the key driver of Profenofos growth. Global population growth and increased need for food crops have increased the demand for more agricultural output. This is predicted to increase demand for a variety of agrochemicals, including fertilizers, pesticides, and insecticides. Insecticide demand is expected to drive the worldwide Profenofos market over the forecast period.
The worldwide Profenofos market is being fueled by an increase in cotton demand and an increase in cotton growing areas. Profenofos, which is largely employed as a pesticide, is mostly utilized by the world's agricultural economy. Developing economies that rely heavily on agriculture, such as India and Bangladesh, are expected to be important markets for Profenofos in the future years. Smaller African nations with large agricultural regions are also expected to have considerable demand for Profenofos.
The significant amount of toxicity present in Profenofos chemical is expected to stifle its growth, and owing to severe adverse effects, Profenofos must be handled with extreme caution. Profenofos has a severe influence on marine life as well as other living creatures, according to research on its gene toxic effect. When it comes into touch with live animals, it has an influence on their DNA.
The implementation of rigorous laws regarding the use of pesticides and insecticides in certain places such as the EU is expected to stymie the market throughout the projected period. The market is also expected to be hampered by Profenofos chemical's high level of toxicity. Profenofos has a number of negative consequences on marine life and other living beings because it alters the DNA of living animals. This is also expected to have a negative impact on the market.
In 2022, Asia Pacific is expected to dominate the worldwide market, owing to the presence of significant manufacturers and increased demand for agrochemicals such as insecticides and pesticides in the area. Growth in agricultural productivity in Asia Pacific is expected to improve the region's Profenofos industry.
During the projection period, the European market is predicted to increase rapidly. Profenofos was not licensed in the European Union until 2015; however various regulatory authorities have decided that the overall risk of taking Profenofos is within acceptable limits. This has increased the region's need for Profenofos.
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The worldwide profenofos market is fragmented, with various regional and global producers present. To preserve their market leadership, prominent industry players are spending in joint ventures, expansion, and new product launches. Leading market competitors are investing in the development of innovative production methods.
The key market participants are Coromandel International Limited, Hualong Chemical Industry Co. Ltd., Jiangsu Baoling Chemical Co. Ltd, Zagro Singapore Pte. Ltd., National Company for Agricultural Production, Acme Organics and Fulon Industrial Chemicals among others.
Market participants are concentrating their efforts on developing a better pesticide that uses Profenofos to protect crops. Industry is also following the trend of producing eco-friendly items that are less hazardous to the environment than present ones.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Crop Type, Packaging, Region |
| Regions Covered | North America; Western Europe; Eastern Europe; APEJ; Latin America; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Hualong Chemical Industry Co. Ltd.; Jiangsu Baoling Chemical Co. Ltd; Zagro Singapore Pte. Ltd.; National Company for Agricultural Production; Acme Organics; Fulon Industrial Chemicals |
| Customization | Available Upon Request |
FMI projects the global Profenofos market to expand at a 5% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic Profenofos market.
Prominent profenofos manufacturers include Coromandel International Limited, Hualong Chemical Industry Co. Ltd., Jiangsu Baoling Chemical Co. Ltd, Zagro Singapore Pte. Ltd., National Company for Agricultural Production, Acme Organics and Fulon Industrial Chemicals among others.
| Market Size (2024) | USD 8.9 billion |
|---|---|
| Market Size (2034) | USD 39.7 billion |
| Projected Value CAGR (2024 to 2034) | 16.1% |
| Market Size (2023) | USD 8.9 billion |
|---|---|
| Market Size (2033) | USD 12.5 billion |
| Market CAGR (2023 to 2033) | 3.4% |
| Market Value (2022) | USD 3.54 Billion |
|---|---|
| Market Value (2032) | USD 6.59 Billion |
| Market CAGR (2022 to 2032) | 6.4% |
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