The grain protectants market is estimated to be USD 572.7 million in 2018 and is projected to reach USD 726.1 million by 2023, growing at a CAGR of 4.86 %. The increasing market pressure to sustain grain quality and high emphasis on the reduction of grain losses are the important drivers for the grain protectants market.
The key players in the grain protectants market include Bayer (Germany), Sumitomo Chemical (Japan), DowDuPont (US), BASF (Germany), UPL (India), Nufarm (Australia), and Syngenta (Switzerland). FMC (US), Degesch America (US), Arysta LifeScience Corporation (US), Central Life Sciences (US), and Hedley Technologies (Canada) are other key market players who also have a significant market presence.
Bayer is a life science company operating in the pharmaceuticals, consumer health, crop science, and animal health segments. Bayer CropScience is the agricultural business subsidiary of Bayer, which offers crop protection products, seeds, and non-agricultural pest control products. These products are offered through its business segments—crop protection/seeds and environmental science. The environmental science division offers products and services for non-agricultural applications such as pest and vector control. For controlling pests in stored grains, Bayer offers both insecticides and rodenticides.
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The company focuses on organic strategies such as new product launches. For instance, in October 2017, Bayer launched K-Obiol 2P and K-Obiol EC in Brazil to control insects in stored grains. This launch was initiated to increase the company’s customer base and to meet the growing demand to safeguard crop quality for a significant period. The launch helped Bayer to gain high market prices, especially for corn, in the South American region.
Sumitomo Chemical is mainly engaged in the production, marketing, and sale of chemicals. The company, along with Valent Biosciences LLC (US) and McLaughlin Gormley King (US), is involved in the development and advancement of various insect control tools. However, the company has not launched any product specific to the grain protectants market.
In April 2017, Sumitomo Chemical merged its 3 Singapore-based subsidiaries, namely, Sumitomo Chemical Asia Pte Ltd, Sumitomo Chemical Singapore Pte Ltd, and Sumitomo Chemical (Asia Pacific) Pte Ltd. This merger would help the company reorganize and establish its presence in the Asian region.
United Phosphorus Limited (UPL) is a manufacturer of crop protection products and other industrial chemicals and seeds. Within India, the company is the largest producer of crop protection products. It offers its crop protection solutions through its extensive product portfolio of seeds, herbicides, insecticides, fungicides, fumigants, and specialty post-harvest products. In the grain protectants market, the company mainly offers fumigants for the control of insects and rodents. In March 2016, the company expanded its product portfolio of fumigants by introducing MagnaPhos, a fumigant for the US grain and commodity storage industry.
Grain Protectants Market by Control Method (Chemical (Insecticides, Fumigants, Rodenticides), Physical (Traps, Baits, Aeration, Heat Treatment), Biological), Target Pest (Insects, Rodents), Grain Type, and Region - Global Forecast to 2023
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