Phosphine Fumigation Market Worth 698.0 Million USD by 2022

PUNE, India, January 20, 2017 /PRNewswire/ --

The report "Phosphine Fumigation Market by Type (Aluminum Phosphide, Magnesium Phosphide, and Calcium Phosphide), by Application (Soil and Warehouse), by Form (Liquid and Solid), and Region - Global Trends & Forecast to 2022", published by MarketsandMarkets, is projected to reach a value of USD 698.0 Million by 2022 at a CAGR of 5.49% from 2017.

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Browse 83 market data Tables and 44 Figures spread through 136 Pages and in-depth TOC on "Phosphine Fumigation Market"

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The market is driven by factors such as increase in awareness about advanced modes of application of fumigation technology, increasing insect population due to climatic changes, and phasing out of methyl bromide fumigants. There is high growth potential in developing markets such as China and India, which provides new development opportunities for market players.

Aluminum phosphide is projected to be the fastest-growing segment, by type, from 2017 to 2022 

Aluminum phosphide is the fastest-growing segment, as it is used as an alternative for methyl bromide fumigants and is comparatively less costly. The demand for aluminum phosphide is projected to increase owing to the rapidly growing agrochemical industry. North America dominated the Phosphine Fumigation Market in 2016.

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Warehouse segment projected to depict high potential for the Phosphine Fumigation Market 

Warehouses segment is estimated to grow with the highest CAGR from 2017 to 2022. Warehouses are generally used to store food grains or processed food which is highly susceptible to insect infestations. This is one of the main reasons for the usage of phosphine fumigants, which has led to warehouse segments being one of the fastest growing segments in the phosphine fumigation industry.

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Europe expected to show growth potential in the Phosphine Fumigation Market 

The Europe region is one of the key markets for the Phosphine Fumigation Market and its growth is attributed to the growth in the production of cereals and grains in the region with advancements in storage technologies in warehouses and innovations in farming technologies with higher efficiency in terms of application. Countries in this region are focusing on sustainable agriculture to meet the demand for high-quality crops.