Global Crop Protection Chemicals Industry is Expected to Reach USD 71.3 Billion in 2018: Transparency Market Research

Global Crop Protection Chemicals Industry is Expected to Reach USD 71.3 Billion in 2018: Transparency Market Research PR Newswire ALBANY, New York, August 22, 2012 ALBANY, New York, August 22, 2012 /PRNewswire/ -- According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Crop Protection Chemicals Market - Global Industry Size, Market Share, Trends, Analysis and Forecast, 2011 - 2018," the global crop protection market was worth USD 48.0 billion in the year 2011 and is expected to reach USD 71.3 billion by 2018, growing at a CAGR of 5.4% from 2011 to 2018. Herbicides formed the largest category in the overall crop protection market, contributing about USD 19.9 billion for the year 2011. Browse the full report at http://www.transparencymarketresearch.com/crop-protection- market.html Herbicides, fungicides and insecticides are the foremost product segments in the global crop protection market. The herbicides market will experience both the highest growth rate as well as highest volume traded in the next six years. The expected growth rate of herbicides for the given period is computed to be 6.1%, which is followed by fungicides with 5.6% of growth rate over the year 2011 to 2018. The major influencing factors in the crop protection market are shrinking arable land, the paradigm shift in farming practices, increased purchasing power and the resultant improvement in the standard of living.