The acephate market was valued at $1.3 billion in 2023 and is projected to reach $2.2 billion by 2033, growing at a CAGR of 5.4% from 2024 to 2033.
Acephate is an organophosphate insecticide used to control a wide range of pests, including thrips, aphids, caterpillars, and beetles. The functioning of the compound includes inhibition of acetylcholinesterase, an enzyme pivotal for appropriate nerve functioning in insects, resulting in their paralysis and eventually death. Due to its systemic action, the compound is suitable for both foliar and soil application, hence offering flexibility in pest management strategies. Moreover, the mammalian toxicity levels of the compound are significantly low, making it a preferred choice among farmers.
Exponential growth in the population has led to rise in agricultural activities, thereby boosting the demand for acephate. Moreover, the compound is witnessing high applicability in residential buildings due to its pest resistance properties, thereby propelling the development of the market. Microencapsulation and nano-formulations of acephate are trending in the market in recent times. Microencapsulation helps to protect the compound from environmental degradation while nano-formulations are elevating the stability, solubility, and bioavailability of acephate.
However, the usage of acephate for agricultural activities is subject to periodic checks and regulations in different countries to ensure human safety. Compliance with such standards is a tedious and time-consuming task, hence hampering the growth of the market. For instance, the Pest Management Regulatory Agency by Health Canada regularly reevaluates all the registered pesticides, ensuring they follow the current health and environmental regulations. On the contrary, the U.S. Environmental Protection Agency recently eased the restrictions implemented upon the usage of acephate. The agency earlier considered the compound to be toxic inside humans; nonetheless, after conducting a series of laboratory tests, the agency found no evidence regarding its toxicity. Therefore, the agency has allowed the administration of 10 times more acephate into crops than the previously accepted limit.
Segment Review
The acephate market is segmented into form, application method, application, and region. On the basis of form, the market is furcated into granule and spray/pellet. As per application method, it is divided into spraying, dipping, hand dressing, and others. Depending on application, it is classified into agriculture, forestry, horticulture, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of form, the spray/pellet segment is expected to dominate during the forecast period.
As per application method, the spraying segment is projected to be the highest shareholder during the forecast period.
Depending on application, the agriculture segment is anticipated to acquire a high share during the forecast period.
Region wise, Asia-Pacific is projected to be the highest shareholder by 2033.
Competition Analysis
The major players operating in the global acephate market include Shiv Agro Chemicals, Ram Shree Chemicals, Vizag Chemicals, Bayer AG, Sinon Chemical Group, Drexel Chemical Company, ADAMA Limited, Zhengzhou Delong Chemical Co., Ltd., Rallis India Limited, and Habei Veyong Bio-Chemical Co. Ltd. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
Acephate is an organophosphate insecticide used to control a wide range of pests, including thrips, aphids, caterpillars, and beetles. The functioning of the compound includes inhibition of acetylcholinesterase, an enzyme pivotal for appropriate nerve functioning in insects, resulting in their paralysis and eventually death. Due to its systemic action, the compound is suitable for both foliar and soil application, hence offering flexibility in pest management strategies. Moreover, the mammalian toxicity levels of the compound are significantly low, making it a preferred choice among farmers.
Exponential growth in the population has led to rise in agricultural activities, thereby boosting the demand for acephate. Moreover, the compound is witnessing high applicability in residential buildings due to its pest resistance properties, thereby propelling the development of the market. Microencapsulation and nano-formulations of acephate are trending in the market in recent times. Microencapsulation helps to protect the compound from environmental degradation while nano-formulations are elevating the stability, solubility, and bioavailability of acephate.
However, the usage of acephate for agricultural activities is subject to periodic checks and regulations in different countries to ensure human safety. Compliance with such standards is a tedious and time-consuming task, hence hampering the growth of the market. For instance, the Pest Management Regulatory Agency by Health Canada regularly reevaluates all the registered pesticides, ensuring they follow the current health and environmental regulations. On the contrary, the U.S. Environmental Protection Agency recently eased the restrictions implemented upon the usage of acephate. The agency earlier considered the compound to be toxic inside humans; nonetheless, after conducting a series of laboratory tests, the agency found no evidence regarding its toxicity. Therefore, the agency has allowed the administration of 10 times more acephate into crops than the previously accepted limit.
Segment Review
The acephate market is segmented into form, application method, application, and region. On the basis of form, the market is furcated into granule and spray/pellet. As per application method, it is divided into spraying, dipping, hand dressing, and others. Depending on application, it is classified into agriculture, forestry, horticulture, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of form, the spray/pellet segment is expected to dominate during the forecast period.
As per application method, the spraying segment is projected to be the highest shareholder during the forecast period.
Depending on application, the agriculture segment is anticipated to acquire a high share during the forecast period.
Region wise, Asia-Pacific is projected to be the highest shareholder by 2033.
Competition Analysis
The major players operating in the global acephate market include Shiv Agro Chemicals, Ram Shree Chemicals, Vizag Chemicals, Bayer AG, Sinon Chemical Group, Drexel Chemical Company, ADAMA Limited, Zhengzhou Delong Chemical Co., Ltd., Rallis India Limited, and Habei Veyong Bio-Chemical Co. Ltd. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
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Key Market Segments
By Form
- Granule
- Spray/Pellet
By Application Method
- Spraying
- Dipping
- Hand Dressing
- Others
By Application
- Agriculture
- Forestry
- Horticulture
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Shiv Agro Chemicals
- Ram Shree Chemicals
- Vizag Chemicals
- Bayer AG
- Sinon Chemical Group
- Drexel Chemical Company
- ADAMA Limited
- Zhengzhou Delong Chemical Co., Ltd.
- Rallis India Limited
- Habei Veyong Bio-Chemical Co. Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: ACEPHATE MARKET, BY FORM
CHAPTER 5: ACEPHATE MARKET, BY APPLICATION METHOD
CHAPTER 6: ACEPHATE MARKET, BY APPLICATION
CHAPTER 7: ACEPHATE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
Key Market Players in the Acephate Market include:- Shiv Agro Chemicals
- Ram Shree Chemicals
- Vizag Chemicals
- Bayer AG
- Sinon Chemical Group
- Drexel Chemical Company
- ADAMA Limited
- Zhengzhou Delong Chemical Co., Ltd.
- Rallis India Limited
- Habei Veyong Bio-Chemical Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 350 |
| Published | June 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 1.3 billion |
| Forecasted Market Value ( USD | $ 2.2 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
