Profenofos Market: Overview

  • Profenofos (C11H15BrClO3PS) is an organic thiophosphate, a broad spectrum organophosphate insecticide that is used in agriculture
  • Profenofos is available in liquid form in amber or pale yellow color. It has garlic-like odor. It allows easy application of insecticides on plants, as it is highly soluble in organic solvents.
  • Profenofos is used in the manufacture of foliar insecticide, miticide, and acaricide. It kills insects & pests and offers protection to crops. The WHO has classified profenofos as class II of toxicity class.

Rise in Demand for Agriculture Produce to Drive Profenofos market

  • Increase in population and rise in demand for food crops across the globe has boosted the need for higher agricultural produce. This is expected to drive the demand for various agrochemicals such as fertilizers, pesticides, and insecticides. Growth in demand for insecticides is estimated to propel the global profenofos market during the forecast period.
  • Increase in demand for cotton and rise in cotton growing areas are further fueling the global profenofos market
  • Implementation of stringent regulations over the usage of pesticides and insecticides in various regions such as the EU is anticipated hamper the market during the forecast period. High level of toxicity in profenofos chemical is also estimated to hamper the market. Profenofos has various side-effects on marine life and other living organisms, as it affects the DNA of living species. This is also projected to adversely affect the market.
  • The COVID 19 pandemic has adversely impacted the manufacture of insecticides due to the industrial shutdown in various countries across the globe. The profenofos market has been facing supply-demand shortages as well as disruption in raw material supply. This is likely to hamper full-scale operations of companies operating in the profenofos market. Supply shortage also raises the prices of raw materials. Affected downstream supply chain may take longer to recover.

Cotton Crop Type Segment to Offer Lucrative Opportunities

  • Based on crop type, the global profenofos market can be divided into cotton, maize, potato, soybean, pulses, and others
  • The cotton segment is anticipated to dominate the global profenofos market during the forecast period. Profenofos protects cotton by controlling tobacco budworm, cotton bollworm, armyworm, cotton aphid, whiteflies, spider mites, and plant bugs.

Bottled Packaging Segment to Hold Major Share of Market

  • Based on packaging, the profenofos market can be classified into bottled packaging and bag packaging
  • The bottled packaging segment held major share in 2019. It is expected to continue its dominance during the forecast period. Rise in demand for insecticides is expected to drive the demand for profenofos during the forecast period.

Asia Pacific to Constitute Significant Share of Global Profenofos Market

  • In terms of region, the global profenofos market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific dominated the global market in 2019, led by the presence of key manufacturers as well as rising demand for agrochemicals such as insecticides and pesticides in the region. Growth in agricultural productivity in Asia Pacific is likely to boost the profenofos market in the region.
  • North America also held large share of the global profenofos market in 2019. Increase in research and development activities in the agrochemical industry and rise in usage of insecticides on crops have been boosting the market in the region.
  • The market in Europe is expected to expand at a rapid pace during the forecast period. Profenofos was not approved in the European Union until 2015; however, several regulatory agencies have agreed upon the fact that the aggregate risk of using profenofos are within the safety levels. This has boosted the demand for profenofos in the region.
  • Developing economies such as South Africa possess large agricultural areas. This is projected to propel the demand for profenofos in the country during the forecast period.

Key Players in Market

The global profenofos market is fragmented, with the presence of several regional and global manufacturers. Prominent players operating in the market are investing in joint ventures, expansion, and new product launch in order to maintain their leading position. Prominent players operating in the market are investing in development of advanced manufacturing processes.

Key players operating in the global profenofos market include:

  • National Company for Agrochemicals Production (Agrochem)
  • Jiangsu Baoling Chemical Co., Ltd.
  • Hualong Chemical Industry Co., Ltd.
  • Fulon Chemical Industrial Co., Ltd.
  • Acme Organics Pvt. Ltd.
  • Syngenta
  • Bharat Group
  • Yantai Keda Chemical

Global Profenofos Market: Research Scope

Global Profenofos Market, by Crop Type

  • Cotton
  • Maize
  • Potato
  • Soybean
  • Pulses
  • Others (Fruits & Vegetables, etc.)

Global Profenofos Market, by Packaging

  • Bottled Packaging
  • Bag Packaging

Global Profenofos Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

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