Argentina Crop Protection Chemicals Market is projected to grow at a CAGR of 5.1% during the forecast period (2020-2025).
- In 2019, the fungicide segment occupied a major share of the country's crop protection chemicals market. The insecticide market displayed a somewhat positive trend, except for a decline recorded in the year 2016. However, the market witnessed a positive growth afterward, and the trend is expected to continue during the forecast period, owing to the increased global demand for major crops produced in the country.
- Bayer CropScience AG, UPL Limited (Arysta LifeSciences), FMC Corporation and Atanor SCA are some of the major players who are operating in this market.
Key Market Trends
Rise in Adoption of Biopesticides
The biopesticide segment of the market is likely to witness the fastest growth in comparison to synthetic chemicals, due to growing demand for regulation on crop protection chemicals by Latin American countries, for the protection of people’s health. There is an increase in awareness among Argentina consumers about the potential hazards posses by chemicals used in food production, which, in turn, is driving the growers to go for alternative crop protection chemicals such as biopesticides, thereby driving its market growth. Companies such as Stockton Group has signed a distribution agreement Syngenta Argentina to distribute its Timorex Gold, a broad spectrum biofungicide in Argentina market. This helps to provide growers with an effective solution for integrated pest management programs (IPM) in the country.
Fungicides Holds a Prominent Share
Argentina is one of the largest producers of soy, wheat, and corn, hence the utilization of pesticides in these crops is very high in the country. Among the various biotic constraints on wheat production, fungus diseases stand out by their incidence in humid years. Serious diseases that cause production loss include leaf rusts, powdery mildew, and fungal leaf blights. In order to reduce yield losses caused by fungal diseases, Argentina farmers are using fungicides on a regular basis. Many companies are launching custom-tailored products that cater to the needs of farmers in this region. For instance, In 2019, FMC Argentina launched the fungicide Rubric Max, which targets the end-of-cycle diseases in soybeans. With many international companies, expanding their operations in the region, the market for fungicides is expected to grow over the next few years.
Bayer CropScience AG, UPL Limited (Arysta LifeSciences), FMC Corporation and Atanor SCA are some of the major players who are operating in this market. These players are expanding their presence by making strategic partnerships with the local players for effective crop protection solutions to growers in this region.
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