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Key Players Adopted Expansions and Agreements as Its Growth Strategies to Expand Its Business in the Field of Crop Protection Chemicals
The key players identified in the global crop protection chemicals market include BASF SE (Germany), The Dow Chemical Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), Sumitomo Chemical Co., Ltd. (Japan), and Syngenta AG (Switzerland). Along with these companies, the other players that have a strong presence in the crop protection chemicals market include Bayer CropScience AG (Germany), FMC Corporation (U.S.), Monsanto company (U.S.), Nufarm Limited (Australia), and ADAMA Agricultural Solutions Ltd. (Israel), D.D. Williamson & Co., Inc. (U.S.) Allied Biotech Corporation (Taiwan), ExcelVite Sdn. Bhd. (Malaysia), and Döhler Group (Germany).
The key market players have adopted strategies such as agreements, expansions & investments, acquisitions, new product and technology launches, collaborations and joint ventures to increase their market presence and revenue generation of the companies. Leading players focus on strengthening their R&D proficiencies by capitalizing in advanced technologies and entering into R&D agreements with other companies to develop diversified product portfolios of crop protection chemical products.
The core strengths of the key players in this market are agreements, collaborations, joint ventures, and partnerships to expand their business geographically. The global players have established large distribution networks across the world and are following extensive cross-selling marketing strategies. Market leaders such as BASF SE, the Dow Chemical Company, Sumitomo Chemical Co., Ltd., and E.I. du Pont de Nemours and Company have successfully tapped the potential markets through the development of innovative products, partnership agreements, and expansions. These key companies focus on introducing and offering a wide range of crop protection chemical products on a regional as well as a global level to strengthen and expand their position in the crop protection chemicals market. The trend of developing biopesticide products for the growing demand of biological pesticides with minimum toxicity and maximum environment friendliness is increasing the competition among the key players, thus increasing the competitive rivalry among the players.
In 2015, BASF SE (Germany) established a new R&D center in Limburgerhof, Germany. This new center would facilitate research in the field of biological crop protection and seed solutions. BASF SE is a leading company offering a wide range of agricultural solutions with a diversified product portfolio in the crop protection chemicals market. The company also adopted expansions and agreements as its growth strategies to expand its business in the field of crop protection chemicals.
Another key player, The Dow Chemical Company (U.S.) launched a new range of insecticides through its subsidiary the Dow AgroSciences (U.S.) in July 2016. The new range was named EXALT 60 SC–which is based on green chemistry technology. It would increase the product portfolio of the company thus increasing the profitability of the company. Along with this, in January 2016, it introduced a new herbicide named Loyant. Thus, the company is engaged in new product developments, thereby increasing its product portfolio of crop protection chemicals.
E. I. du Pont de Nemours and Company (U.S.) has a strong presence in the crop protection chemicals market. In July 2016, it signed an agreement with Monsanto for the supply of Dicamba herbicide in the U.S. and Canada. The new product would be sold by the name of DuPont FeXapan herbicide plus VaporGrip Technology. The chemical found its application with Monsantos Roundup Ready 2 Xtend soybeans, which were grown on approximately 1 million acres in the U.S.
Crop Protection Chemicals Market by Type (Herbicides, Insecticides, and Fungicides), Origin (Synthetic, and Biopesticides), Crop Type (Cereals & Oilseeds, Fruits & Vegetables), Mode of Application, Form, and by Region - Global Forecasts to 2021
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