The fumigation product market is poised for moderate growth, anticipated to achieve a compound annual growth rate (CAGR) of 6.2% over the next decade. This steady advancement is expected to elevate the market size from a valuation of USD 5.5 billion in 2024 to an impressive USD 10.1 billion by 2034. This growth trajectory reflects increasing demand for effective pest control solutions across various sectors, including agriculture, storage, and logistics. The market’s expansion is driven by heightened awareness of pest-related issues, stricter regulatory frameworks, and the ongoing development of more efficient and environmentally friendly fumigation products.
The growing population rate and urbanization will drive the fumigation product market growth rate. The increasing commercial and non-commercial sectors will generate the demand for disinfecting products. Also, vigorous methods will be demanded to gain rapid results. Hence, this will be a key growth driver.
The growing prevalence of infectious diseases will give traction to the demand for fumigation products. Due to this, consumers will agitate the fumigation product market size by generating more demand for products.
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Stringent policies for food safety and the healthcare industry will generate the demand for fumigation products. Disinfection processes will get traction and the regulatory policies will govern them, fueling the market growth.
The growing agricultural sector will assist the fumigation product market growth rate as the demand for pesticides, fungicides, and germicides will increase drastically. Therefore, this is another key market driver.
Key Takeaways from the Market Study
- The growing agricultural sector in China will determine a moderate CAGR of 6.9% for the fumigation product market in the country.
- The South Korean fumigation product market growth rate will be the fastest, occurring at a CAGR of 8.3%.
- The United States of America will be the largest market by size, projecting a valuation of US$ 1.8 billion.
- Phosphine will likely be the highest-demanded type, which will hold 68% of the market space in 2024.
“Prolonged chemical use might affect people’s health and immune pests, making the fumigation products ineffective. Hence, this is a key market restraint,” says an Analyst at Future Market Insights (FMI).
Competitive Landscape
Major players in the fumigation product market innovate and expand through their product launches. Moreover, strategic acquisitions, mergers, and collaborations are key market expansion modes that deliver a sustainable competitive edge.
New entrants possess less negotiating power due to their lower market share. However, strategic alliances, aggressive pricing, and innovation will elevate their market share, giving a decisive competitive advantage. The following key market developments have occurred recently:-
- In October 2022, AMVAC Chemical Corporation partnered with NewLeaf Symbiotics. The collaboration was intended to use the strategic strengths of both organizations in the field of marketing and operations to deliver optimum results.
- In February 2024, Arkema expanded its elastomers production capacity by 40%. This development has been significant for the organization in the consumer goods and sports market segment.
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Key Companies Profiled in the Fumigation Product Market
- AMVAC Chemical Corporation
- Arkema
- Detia Degesch GmbH
- Ecotec Fumigation
- Intech Organics Ltd
- LANXESS AG
- Solvay S.A.
- Draslovka Services Group
- S.C. JOHNSON & SON INC.
- Ensystex Australasia Pty Ltd.
More Valuable Insights Available
Future Market Insights offers an unbiased global fumigation product market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
The fumigation product market is segmented by Type (Phosphine, Sulfuryl Fluoride, Methyl Bromide, and Others), Form (Solid, Liquid, and Gas), Application (Commercial & Industrial, Agriculture, and Residential), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the 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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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