The North American organophosphate pesticides market size is expected to reach USD 30.77 billion in 2024 and is anticipated to reach USD 39.51 bn by 2029, growing at a CAGR of 5.13% from 2024 to 2029.
Organophosphate Pesticides are one of the most regularly used groups of pesticides. Organophosphate are the basis of many insecticides, herbicides, and pesticides. The organophosphate substances function by thwarting the enzyme acetylcholinesterase, which in turn triggers nervous and respiratory damage, leading to the pest’s death. Organophosphates are comprehensively used due to their multi-faceted purpose as fumigant, systemic or contact insecticide.
The growth of the North American organophosphate Pesticides market is majorly driven by factors such as high performance of organophosphates, lower price, and easy availability. However, issues such as toxicity of these substances towards environment and high research and development costs are the major restraints for the market growth in this region.
The market in this region is expected to grow at a slow rate, largely owing to resilient government control due to the dangerous effects of chemicals on humans and the environment.
Monsanto, DOW Agriscience LLC, Bayer Cropscience, Syngenta AG, BASF, Dupont, American Vanguard Corp, FMC Corporation, Adama Agricultural Solutions Ltd, Nufarm
Accounting for approximately 30% of the pesticide market share, the Organophosphate Pesticides market draws a great deal of financing from agricultural input companies.
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