Global nematicides market was valued US$ 1.14 Bn in 2017 and is projected to reach US$ 1.52 Bn at a CAGR of 3.66%, according to a report published by WiseGuyReports.Com.
Biotechnology innovation has increased the value of some field crop seed by introducing new traits, end user has demanded better protection of the seedling to maximize their return on investment posing an opportunity to nematicides market.
Growing need to increase crop yield and quality due to reduction in arable land coupled with the benefit of higher crop quality and yield with the use of nematicides is driving the global nematicides market. Increase in the cost of high-quality seeds, like the hybrid, and genetically modified seeds, cost efficiency of seed treatment systems, the temperature on the product of crop protection chemicals limitations linked to soil structure, and encouraging government regulations are driving the market growth for nematicides.
However, environmental and human hazards with the use of chemical nematicides, strict government regulations on pesticides, and the development of transgenic crops are the factors restraining the market growth. New active ingredients have been introduced that present new opportunities for seed protection. New insect protection genetics in corn and cotton have changed the spectrum of pests to protect against, resulting in the need to rethink crop protection strategies.