Profenofos is a chemical being used in producing foliar insecticides, acaricides, and miticides. It does destroy pests and insects but does render protection to the crops as well. The WHO has recognized profenofos as a class II hazard. The global profenofos industry size was worth US$ 1.22 Billion in the year 2022 and is expected to reach US$ 2 Billion by the year 2032 at a CAGR of 5% between 2022 and 2032.
Profenofos is slightly acidic in nature. Profenofos’ hydrolysis renders it unstable in the alkaline settings.
With need to raise agricultural production in the wake of population explosion worldwide, there is nothing to look back for profenofos market. Insecticides, pesticides, and fertilizers are being made out of profenofos.
At the same time, the fact that profenofos are toxic in nature can’t be ignored. In other words, profenofos needs to be handled with extreme caution. It does adversely affect marine life, and is also capable of altering the DNA of living beings.
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It could thus be appropriate to state that profenofos is a double-edged sword. In all, the toxicity quotient (TQ) could be detrimental to profenofos market. Moreover, in the under-developed agrarian economies, there is a lack of awareness regarding proper handling of profenofos. This factor could again stir the profenofos market on the negative count going forward.
Future Market Insights has etched these findings with future perspectives in its latest market study entitled ‘Profenofos market’. It has its determined team of analysts and consultants to deploy a bottom-up approach in its primary, secondary, and tertiary modes of research.
“Profenofos is expected to create ripples in the farming sector on a consistent note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Profenofos Market
- Europe holds the largest market share; specially after the year 2015 (as profenofos weren’t licensed in the EU till then).
- The Asia-Pacific is expected to grow at the fastest rate in the profenofos market due to growing demand for pesticides and insecticides herein.
Competitive Profenofos
- The key participants in profenofos market include Hualong Chemical Industry Co. Ltd., Jiangsu Baoling Chemical Co. Ltd., Zagro Singapore Pte. Ltd., national Company for Agricultural Production, Acme Organics, and Fulon Industrial Chemicals.
- The key participants are into various modes of expansion to strengthen their foothold in the profenofos market. They include new product launches, partnerships, mergers, acquisitions, joint ventures, and likewise.
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Key Segments Profiled in the Profenofos Industry Survey
Crop Type:
- Cotton
- Maize
- Potato
- Soybean
- Pulses
- Others (Fruits & Vegetables, etc.)
Packaging:
- Bottled Packaging
- Bag Packaging
Region:
- North America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Latin America
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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