Insects are considered as one of the most diverse species living on earth. Though the majority of insects provides benefits to the environment, there are insects which pose threat to entire countries or regions. For instance, tsetse fly that puts about 100 million people and 60 million head of cattle at risk in sub-Saharan Africa due to the transmission of trypanosomiasis.
According to statistics, Herbivorous insects have been destroying one-fifth of the world’s total crop production annually. Precautions are to be taken on preventing and killing off these kinds of insects. Some of the harmful bugs or insects are: Aphids, Spider Mits, Colorado potato beetle, Caterpillars etc. Miticides are one those chemical pesticides that are effective against these kinds of mites posing threat to the plants.
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Global Miticides Market: Reasons for Covering this Title
The proportion of herbicides and insecticides consumption increased rapidly over the rising concerns over protections of plants and crops from insects and mites which capable of affecting the growth of crops. Mits are being considered as one of the most threatening garden pests which are difficult to control. These tiny arthropods include spiders and ticks. Mits population grows rapidly when the temperature is high and the humidity is way too law. Since these mites are tiny and difficult to detect, one realizes the presence of mites only when plants are affected drastically in most cases. Miticides play an important role in controlling the growth of mites in plants. Miticides are the chemical agent that help to kill the mites. Though there are several types of miticides available in the market, the main function of miticides is to ward off the mites from garden plants.
Global Miticides Market: Key Takeaway
Herbicides and Insecticides are being considered as the main dominating segments in the global pesticides market. Moreover, the Home & Garden accounts the higher share of consumption in the insecticides segment which paves an opportunity for Miticides market. China is being considered as the major producer and exporter of insecticides and other types of pesticides.
Global Miticides Market: Key Players
Some of the key players operating in the global Miticides market are FMC Corporation, United Phosphorus, Inc., Syngenta, Gowan, BASF, Bayer, Monsanto Company, Mantis Plant Protection among others
Key Trends: Global Miticides Market
Major shareholding companies for Miticides have been strategizing on coming up with innovative products catering to the varying needs. The companies are also acquiring establishments dealing with miticides business.
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Global Miticides Market: Key Developments
- In the year 2017, FMC Corporation, announced the acquisition of a significant portion of DuPont’s Crop Protection business.
- In the year 2018, United Phosphorus Ltd, expanded its product offering by launching two new insecticides among which one is Miticides in the Indian market on June 6.
- In the year 2013, Monsanto completed the acquisition of Climate Corporation. The company focuses on providing farmers with critical information about factors affecting the growth of their crops.
Opportunities for Miticides Market Participants
Gardening is being practiced in the majority of households in several major parts of North America, Europe and the Asia Pacific. Owing to the fact, gardening requires high maintenance factors, helps trigger the demand for miticides products in these regions.