North America Nematicides Market is estimated to register a CAGR of 5.6% during the forecast period (2020-2025). Demand for nematicides has been increasing owing to the presence of various nematode species attacking the wide range of economically important crops in North America. In the United States, the majority of the crop losses occur in cotton and corn by nematodes attack. Although North America’s nematicides market is largest in the world, chemical bans (use as a formulation in nematicides) will limit the market expansion during the coming decade. The region is likely to continue its dominance in the next few years. The growth in the North American Nematicides market is primarily driven by the growing need to increase crop yield and quality, decreasing arable land, the awareness about the nematicide usage to get high quality and high yield crops, and growing demand for bio nematicides due to growing organic farming and demand for organic food. By chemical type, fumigants occupied the largest share of nematicides market in North America due to the huge application in fruits & vegetables crop production.
Key Market Trends
Strong Demand for High-Value Crops
The effect of nematode infestation is very high in crops like Soybean, Barley and Wheat. The increase in crop losses every year is the major concern for many farmers and forcing them to use nematicides in order to protect the crops. Growing concerns over the demand for such crops in the region, thus creating ample market opportunities for nematicides. This is expected to be the key factor to open new opportunities for this market. North America dominates in the production of Soybean, Wheat, Barley, Sorghum and Rice with year to year production increase, the concern to meet the demand for such high value crops amidst the nematode infestation also increases thus causing an increase in the demand for nematicides in the region.
United States Dominates the Market
United States is one of the major market for nematicides in the region. Owing to the presence of various nematode species attacking a wide range of economically important crops and awareness of farmers regarding the chemical nematicides application, the country has garnered the highest share in the North American market. Vegetables, corn, and cotton are majorly affected by nematodes in the country. The most common nematode species affecting cotton in the United States are species southern root-knot (Meloidogyne incognita), reniform (Rotylenchulus reniformis), Columbia lance (Hoplolaimus columbus), and sting (Belonolaimus longicaudatus). Increasing the number of nematicide products based on the aforementioned nematodes is estimated to drive the market.
The growing demand for bio-nematicides is driving the market growth. Farmers in the country are opting for bio-based nematicides, primarily due to increased pressure from the Environmental Protection Agency (EPA) to reduce the usage of chemical nematicides.
North America's Nematicides market is consolidated with major players holding 58.0% of the market share while others hold 42.0% of the market share. American Vanguard Corporation, Bayer AG, Syngenta International AG, Corteva Agriscience and UPL Limited are the major players in the nematicides market. Major players such as Bayer AG, American Vanguard Corporation, Corteva Agriscience, and Syngenta International AG hold a market share of 14.2%, 12.8%, 10.3%, and 9.4% respectively. These companies are investing in Research & Development activities and are coming up with innovative nematicide products. For instance, UPL Limited had 241 granted patents with 6,181 registrations in Agro Solutions by 2018.
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