Carbofuran Market

Carbofuran Market Synopsis

Carbofuran Market Size Was Valued at USD 0.86 Billion in 2023, and is Projected to Reach USD 1.0 Billion by 2032, Growing at a CAGR of 1.73% From 2024-2032.

The global Carbofuran Market is mainly fuelled by the versatility of carbofuran as a pesticidel used in agriculture to shield crops against numerous pests and insects. Carbofuran affects root–feeding nematodes, soil insects, and other soil borne pests that are a menace to crops; thus, it is a useful product in increasing crop yield and quality. This technology is often used in crop plants like maize, potatoes and rice; and in non crop pest control such as turf grass. The demand of the carbofuran is very high for use in farming due to its effectiveness in pest control, and as modern advancements intensify the farming systems throughout the world to supplement the food systems, there is sustained market demand due to the importance of big farming economies.

But, as more and more negative effects of carbofuran on the environment and human health are establishing, the sale of carbofuran is regulated. Due to the high toxicity of carbofuran to human beings and animals it has been banned and restricted in most countries. For instance, the European Union has banned the product, and some U.S. states have set usage prohibitions. They have fostered development of other control measures and limited the market of carbofuran in some territories. Due to safety and environmental concerns, there is increased investment on new clean carbofuran substitutes that have not completely displaced it in agricultural uses.

There is potential for carbofuran especially those parts of the world where crops are highly valued for food security including parts of Asia and Latin America. These regions are much less likely to have strict laws on bombed products as is the case with other world regions hence ensuring constant demand of carbofuran. Further, the continuous process of agricultural modernization and the growing implementation of integrated pest management (IPM) systems are the growth opportunities for carbofuran market. The future of the market though, will solely be governed by several safer and more environmentally compliant pest control solutions that conform to the current global regulatory and environmental benchmarks. By so doing, it can be seen that the carbofuran market will have a about both threats and opportunities in the course of its developmental trends.

Carbofuran Market Outlook, 2023 and 2032: Future Outlook

Carbofuran Market Trend Analysis

Trend: Shift Towards Integrated Pest Management (IPM) Solutions

ONE of the main trends acting upon the Carbofuran Market is the constant transition to the usage of Integrated Pest Management (IPM) programmes caused by the ecological considerations. The IPM utilises integrated pest management applying numerous pest control methods, including biological, cultural and mechanical as well as chemically, though restrictively, with the use of carbofuran. Farmers are now embracing Integrated Pest Management or IPM in order to minimize the use of green pesticides, though for effective eradication of pests. Carbofuran forms part of these systems due to its broad-spectrum control being effective on all stages of pests and life-cycle, however use of carbofuran is in the process of being regulated under IPM practices to ensure minimal effects on beneficial non-target species. Pest control therefore shifts towards Integrated Pest Management, further [exacerbated by regulation and consumer expectations of crops grown sustainably. Ministries of agriculture and agriculturally related international organization across the world are encouraging the use of IPM to reduce ramifications of excessive use of chemical pesticides such as negative impacts on soil and water. Therefore, the use of carbofuran is being driven by its incorporation into IPM protocols, in which its use is restricted to only those situations where high intensity pest control is necessary. This trend indicates a shift within the market towards considering pest management not only from the perspective of efficacy but also from its impact on the nature environment, thus, the potential for innovation for both pest control product and service solution providers.

Driver: Increasing Demand for Agricultural Productivity and Crop Protection

The demand for the Carbofuran Market is to a great extent driven by the growth of agricultural output and the need for protective crop measures. With the population growing worldwide the demand for higher yield in agriculture has pushed the farmers to get better results in limited production area. Carbofuran is systematically used as broad-spectrum insecticide/nematicide, which helps to protect crops against such pest as nematodes, rootworm and aphids. Since it prevents pest invasions that may otherwise hinder the proper growth of crops, it has become an essential factor in today’s farming. Again, food crops like corn, rice, sugarcane and potatoes which are globally used crop, advantages highly from the use of carbofuran hence increasing the demand. Furthermore, the continually growing resistance of pests to the general insecticides has raised the need for potent chemicals such as carbofuran. It can be used to control a multitude of pests and provides a boost to crop production and, as such is vital in high-pressure farming conditions. This is especially the case in areas of Asia-Pacific, Africa and Latin America where issues of food Security and safety continue to play an imperative role. In countries where agriculture is a main income earner, carbofuran demand is high despite the challenges facing this chemical compound in some regions because of regulations on banned substances.

Restraint: Stringent Regulatory Restrictions and Bans

The Carbofuran Market is experiencing major challenges due to a saturated regulation by various governments around the world. A concern where one finds high toxicity levels that affects human health, wildlife and all-round environment has become vulnerable to regulation. Carbofuran has been completely withdrawn from the market especially in the EU because of it’s negative impacts to other organisms and ability to pollute water sources. Likewise in the United States use of carbofuran is almost negligible due to regulatory measures from the Environmental Protection Agency for EPA, and its application limited to a few crops. These measures have negatively affected the market, slowing its expansion within many developed countries and forcing manufacturers to look for other markets or invent a less hazardous product. These regulatory challenges are further exacerbated by rising number of advocacy and awareness on environmental sustainable agriculture. Environmental conservation agencies and non-government organizations have noting the effects of this chemical, hence the increase in legal pressure on the authorities to increase carbofuran bans. This has contributed to reduced demand for carbofuran in some of the core markets, hence making manufactures to search for environmentally friendly pest control products. Though such measures would indicate the world’s gradual shift towards sustainability the continuous monitoring by the regulatory authorities remains a major drawback of carbofuran use; the automotive industry moves from one chopping board to another while trying to come up with more acceptable substances to use.

Opportunity: Development of Safer and More Eco-friendly Alternatives

The Carbofuran Market has potential growth to grow as more environmentally safe and less toxic chemicals are developed as Carbofuran is being restricted all over the world. On account of the toxicity of carbofuran on human beings and other forms of life, there is a rising concern to find a pest control method that performs just as carbofuran in its lethal efficiency but with a reduced ecological consequence. The current trend for manufacturers and researchers has been on the development of bio-based or less toxic pesticides given the current environmental specification. These alternatives might provide similar levels of pest control success and crop and yield shielding from undesirable side effects of carbofuran. It does so in response to the global trend towards sustainable agriculture and Integrated Pest Management (IPM). The creation of advanced environmentally friendly materials also creates chances of growth and new market opportunities especially in regions such as Europe and North America that have tight guidelines. Pioneer growers and stakeholders in the use of environmentally friendly methods will probably opt for the products of firms that invest in green chemistry and enhanced formulations. Moreover, it was established that these alternatives can help meet increasing customers’ concern with the organic and sustainably sourced produce, thus having the knock-on effects down the supply chain. This opportunity therefore sets the stage for long-term growth the market, as long as players within the industry focus on research and strategy and collaboration.

Carbofuran Market Segment Analysis

Carbofuran Market Segmented on the basis of By Application, By Formulation Type, By Crop Type and By Packaging Type.

By Application

o   Agricultural Use

o   Horticultural Use

o   Non-Agricultural Use

By Formulation Type

o   Granular

o   Liquid

o   Water-Soluble

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Application, Agricultural Use segment is expected to dominate the market during the forecast period

The Carbofuran Market has been divided by application where the most important segment is agriculture, this segment renders the largest share and is the main driver of the market. Carbofuran is usually used on a wide range of crops including corn, rice and potatoes, to control pests including nematodes, aphids and beetles. Because of this feature alone in improving crop yield and quality, it cannot be overemphasized that farmers especially in the area where pests are prevalent are cannot do without this invention. Still, most of the uses of pesticides are restricted in some countries, but the importance of agriculture is still the main driver of this market, where a growing number of people suffer from hunger. Some of these areas use carbofuran to secure production of crops of areal Importance and this explains why it is still in high demand. There use of carbofuran is not limited to only the agricultural purpose, it has horticultural and most importantly non-horticultural or non-agri use but these segment markets are comparatively less than the agricultural segment. In horticulture is used to control pests in ornamental plants, fruits and vegetables to retain their beauty and market value respectively. In non-agricultural applications, carbofuron is used in the management of pests in golf and related sports, as well as in parks. Hence its application in those areas is reducing owing to higher environs concerns besides the presence of better options like the success of carbofuran application through foliar uptake.. Compared to other end uses, agricultural applications are by far the largest and still constitute the fastest-growing market for carbofuran, horticultural and non-horticultural uses are restricted by regulations and sustainability concerns.

By Crop Type, Fruits and Vegetables segment expected to held the largest share

Due to the varying nature of the demand for the Carbofuran, Market segmented by crop type in the report includes fruits and vegetables, cereal crops and ornamental plants. Of these sectors, fruits and vegetables are the largest due to their vulnerability to variety of pests and nematodes. Because of its non-selective activity, it is employed to safeguard highly valued crops such as the tomatoes, potatoes, as well as the cucumbers to enhance quality produce. Fruits and vegetables that are deeply infiltrated with carbofuran are grown in Asia-Pacific and Latin America, as these two zones base their economies on horticulture. Carbofuran additionally finds large usage in cereal crops to shield plants such as corn, rice and wheat from root feeding nematodes as well as soil dwelling pests that can greatly diminish crop yields. This segment remains the key consumer for carbofuran especially from grade 1 countries with high production capacity of cereal. Carbofuran is seldom used in our ornamental plants for pest control but is crucial in cases where growth of plants in green house and nursery is a requirement. The ornamental plants segment is mainly driven by landscaping and urban greening demand side. Yet carbofuran used in crops of all kinds is under increasing pressure due to environmental problems and legislation constraints, which pushed for adapting other methods of pest control gradually.

Carbofuran Market Regional Insights

Asia Pacific is Expected to Dominate the Market Over the Forecast period 

The Asia Pacific region is most likely to emerge as the largest consumer of Carbofuran during the estimated period owing to its mature agriculture industry and its reliance on crop yield as a key economic activity. Carbofuran is heavily used in China, India and Indonesia which are agricultural countries, to protect crops like rice, corn and sugarcane from pests and nematodes. Another reason is that this region is tropical hence it supports the pest mostly and hence supports the use of pesticides such as carbofuran. Furthermore, Asia pacific regions with increasing population requires increase yield production in crops hence the need to use carbofuran to control pests. This is one of the reasons why Asia Pacific countries have comparatively loose restrictions for the utilization of carbofuran. Moreover, the governments in the region are redirecting investment to the modernization of the agriculture sector and pest control management to achieve food security. However, the transition from hazardous pests control methods to another safer one is gradually taking place while using carbofuran is cheap and effective in controlling pests within this area. With changing trend in agricultural practices, Asia Pacific is expected to continue being an essential market for Carbofuran because of the high demand for the chemical in enhancing crop productivity.

Carbofuran Market Share, by Geography, 2023 (%)

Active Key Players in the Carbofuran Market

o   BASF SE (Germany)

o   Jiangsu Huifeng Agrochemical (China)

o   Zhejiang Jianfeng Chemicals (China)

o   Taminco Group (Belgium)

o   DuPont de Nemours Inc (USA)

o   Nufarm Limited (Australia)

o   Syngenta AG (Switzerland)

o   Shandong Huayang Technology (China)

o   Adama Agricultural Solutions Ltd (Israel)

o   Hanfeng Evergreen Inc (Canada)

o   FMC Corporation (USA)

o   UPL Limited (India)

o   Monsanto Company (USA)

o   others

Global Carbofuran Market Scope