The North American pesticide intermediates market size is expected to reach USD 38.25 billion in 2024 and reach USD 55.96 billion by 2029, growing at a CAGR of 7.91% from 2024 to 2029.
Pesticides are substances that are meant to control weeds or pests. Most pesticides are intended to serve as plant protection products which in general protect plants from fungi, weeds or insects. Pesticide intermediates are used in producing these pesticides.
Pesticide intermediates are also used in manufacturing agricultural and other industrial products. These are used in the production of active ingredients or during the production of pesticide products. They are raw materials used for the manufacture of technical-grade active ingredients by purification or chemical reactions. It can be obtained from other sources and also can be manufactured on an identical site as that of the final pesticide product. Environmental Protection Agency requires information regarding any toxic qualities of pesticide which may be harmful and these pesticides are tested thoroughly for effectiveness. These intermediate substances are also regulated by the Toxic Substances Control Act.
Pesticide intermediates are vital substances used for the production of active ingredients used in the formulation of pesticides. Hence, extensive demand for agricultural products is driving the North American pesticide intermediate market. Also, the increase in the North American population and, hence, the food demand is boosting the market growth. However, stringent regulations which are associated with the production and usage of pesticide intermediate constrain the market growth during the forecast period. Moreover, manufacturers of pesticide intermediate products give a lot of importance to the production of organic products to ensure their friendliness with humans, crops, and the environment.
North America has the largest market for pesticide intermediates in the world by share. In the North American region, the United States has the largest share. Factors such as rising populations and rising incidence of environmental pollution are expected to propel the market growth in the region.
Some of the major players in the market are Syngenta AG, Bayer, Dow AgroSciences, Monsanto Company, BASF SE, E. I. du Pont de Nemours and Company, ADAMA Agricultural Solutions Ltd., Nufarm Ltd., FMC Corporation, Lanxess.
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