Global Market Insights, Inc. adds new Phorate Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.
Phorate Market size will witness a substantial growth with rising application in agricultural and pharmaceutical industry. Growing crop protection industry will drive phorate market as they are used as pesticides. On an estimate, around 30-40% of total crop is lost because of insects & diseases infestation that in turn reduces the overall production. Hence, their use has increased to reduce the wastage and meet food demand.
Rise in global population and decrease in arable land, the demand for phorate market has escalated. There has been a rise in demand for safety and quality of food. In addition, apart from others these do not lose their effectiveness upon hydrolysis and have no residual action. Such factors are expected to further boost phorate market size.
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Phorates are phosphate esters used as insecticides for protecting crops from leaf-hoppers, leaf-miners, mites and rootworms. They are widely used in agriculture and pharmaceutical industries. At atmospheric conditions, these are readily soluble in organic solvents but not completely soluble in water. They are very stable and undergo hydrolyses both in acidic or basic condition. These are non-bio-cumulative and most commonly used in granular form.
Major restraint for phorate market is its toxic content which is harmful for both mammals and target organisms and may cause headache, fatigue, nausea, diarrhoea and convulsions. Strict government regulations for its use may further restrain the product growth. If these persist as metabolites, they can damage seeds.
Based on type of activity, the product is classified as systematic and contact. The systematic type depends on its ingestion while the contact type depends on direct contact. Performance of contact type can be improved with quality and method of application. The contact type insecticides have the major share as they are more effective.
Asia Pacific has major share in global phorate market size owing to increase in population that has escalated the food demand. The limited availability of arable land has further enhanced its consumption. Growth in insecticide industry in the region has further enhanced the industry growth.
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Phorate market is fragmented with the presence of many regional players in the market. Some of the key industry players include Kalyani Industries, Canary Agro Chemicals, A.S. Joshi, Canary Agro Chemicals, Anmol Afrotech, Jayalakshmi Fertilisers, Chromservis, Ram Shree Chemicals, Sikko Industries, AMVAC Chemical Corporation and Hindustan Mint & Agro Products. Firms are spending on research and development for reducing toxicity to increase product sale.
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