Taiwan Pesticides Market - Forecast(2023 - 2028)

Taiwan Pesticides Market Overview

Taiwan Pesticides Market size is estimated to reach $811.2 million by 2027, growing at a CAGR of 4.17% during the forecast period 2022-2027. Taiwan Pesticides are substances that are designed to curb pests. In Taiwan, each pesticide is allowed a maximum residue limit (MRL) for a specific crop category. For example, the pesticide: Acifluorten which is essentially a herbicide has a maximum residue limit of 0.1 ppm for crop category: dry beans. Aldrin is widely utilized as a soil insect control agent together with another organic insecticide termed heptachlor. Insect growth regulators (IGRs) are insecticides that imitate hormones in young insects. They disturb how insects develop and recreate. As per investigations in 1994, no applications of insect growth regulators or microbial agents are utilized by private pest control operators in Taiwan. Anthracnose ailments, brought about by Colletotrichum gloeosporioides, are a global issue and are specifically significant in Taiwan owing to the serious economic injury they bring about to tropical fruits that are raised for regional use and export. Benzimidazoles are fundamental fungicides extensively utilized for curbing these ailments in Taiwan. Sinon Chemical Group in Taiwan services customers worldwide and partners by offering formulated and technical products which may be crop protection chemicals, raw materials, and intermediates in more than 60 countries. Amidst numerous pesticides registered for the safeguard of rice crops in Taiwan, over 40 organophosphorus and carbamate insecticides have brought about apprehension owing to their residues in harvested rice. The surging utilization and reliance on pesticides including insecticides are set to drive the Taiwan Pesticides Market. The soaring count of registered pesticides in conjunction with their increasing dosage is set to propel the growth of the Taiwan Pesticides Market during the forecast period 2022-2027. This represents the Taiwan Pesticides Industry Outlook.

Report Coverage

The report: “Taiwan Pesticides Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Taiwan Pesticides Market.

By Type: Insecticides, Fungicides, Herbicides, Others.

By Target Crops, Animals And Products: Paddy, Vegetables And Fruit Trees, Rats, Stored Products And Other Fumigation Procedures, Weeds (Paddy Fields And Upland Areas).

By Application Technique: Spraying, Dusting.

Key Takeaways

• Taiwan Pesticides Market growth is being driven by the presence of different agricultural pests owing to the great temperature, moist subtropical climate, and the exhaustive agricultural system resulting in the greater application of pesticides and crop protection chemicals. However, non-compliance with pesticide standards of Taiwan will lead to recall and exclusion of products and this is one of the major factors hampering the growth of the Taiwan Pesticides Market. 

• Taiwan Pesticides Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Taiwan Pesticides Market report. 

Taiwan Pesticides Market Segment Analysis – By Type:

The Taiwan Pesticides Market based on type can be further segmented into Insecticides, Fungicides, Herbicides, and Others. The Insecticides Segment held the largest market share in 2021. This growth is owing to the proliferating demand and application of home insecticides in the wake of the COVID-19 pandemic owing to the heightening attention on cleanliness. The height of the COVID-19 pandemic in Taiwan resulted in increased and robust sales of insect killer foggers and bug bombs. The extensive utilization of insecticides on target crops like paddy, vegetable, and fruit trees is further propelling the growth of this segment.

Furthermore, the Herbicides segment is estimated to grow with the fastest CAGR of 4.7% during the forecast period 2022-2027 owing to the surging application of weedkillers for the elimination of weeds in paddy fields and upland areas in conjunction with the increased application of insecticides to destroy insects.

Taiwan Pesticides Market Segment Analysis – By Application Technique:

The Taiwan Pesticides Market based on application technique can be further segmented into Spraying and Dusting. The Spraying Segment held the largest market share in 2021. This growth is owing to the soaring application of Taiwan Pesticides by way of spraying liquid formulations of pesticides that may be diluted or concentrated (direct). Insecticides and fungicides are types of pesticides. Spraying of pesticides is performed utilizing plant protection equipment termed sprayers which may be manually operated or power operated. The upsurge in the application of electrodyne spraying resulting in superior accumulation of pesticide and nominal drift losses/wastage is further propelling the growth of this segment.

Furthermore, the Dusting segment is estimated to grow with the fastest CAGR of 4.9% during the forecast period 2022-2027 owing to the soaring application of ready to use dust products minimizing field tasks like concentrate management and dilution in conjunction with their expanded utilization in dryland agriculture where water is deficient and the increased application of insecticides to destroy insects.

Taiwan Pesticides Market - Drivers

Surging Inclination Towards Enhanced Hygiene Resulting In Increased Sales Of Home Insecticides In 2020 Is Projected To Drive The Growth Of Taiwan Pesticides Market:

Home insecticides recorded an increase in the development of sales in 2020 owing to a considerable hike in demand over the duration of the year. When it was declared that the COVID-19 pandemic had escalated from China to the island country of Taiwan, there was positive growth in the sales of home insecticides owing to the augmented attention on enhancing hygiene. Spray/aerosol insecticides persist as the biggest class of home insecticides in Taiwan and the recognition of these products is on the basis of their immediate and potent efficiency and their potential of being utilized on both flying and crawling insects. The capacity of spray/aerosol insecticides to rapidly and efficiently destroy cockroaches is a principal selling point for the superior class of brands.  These advantages of home insecticides are therefore fuelling the growth of the Taiwan Pesticides Market during the forecast period 2022-2027.
Innovative Fungicides Are Expected To Boost The Demand Of Taiwan Pesticides:

Zagro included Zagro Services Ltd (Thailand) and Zagro Taiwan International Ltd (Taiwan) in 2008. Zagro produces an extensive series of fungicides, accessible in different formulations like wettable powder, wettable granules, suspension concentrate, emulsifiable concentrate, and dry flowable. Relying on the formulation, Zagro’s series of fungicides assist in curbing oomycetes, like Peronospora, Pythium, Phytophthora, and Plasmopora, and different plant ailments like anthracnose, leaf spot, rust, early blight, late blight, powdery mildew, rice blast fungus, purple blotch, rhizome rot, dry rot, seedling blight, karnal bunt, and blue mould. Zagro provides a series of integral fungicides with safeguard and healing action, utilized to curb soil, root, and leaf ailments. It also produces broad-spectrum fungicides with safeguarding action. Copper Hydroxide and Copper Oxychloride are foliar fungicides with protective action. These kinds of innovative fungicides are driving the growth of the Taiwan Pesticides Market during the forecast period 2022-2027.

Taiwan Pesticides Market – Challenges

Harmful Effects Of Organophosphate Pesticide Are Challenging The Growth Of The Taiwan Pesticides Market:

Pesticides include insecticides, fungicides, and herbicides. Attention-deficit/hyperactivity disorder (ADHD) is male-dominated. Previous investigations have evaluated the connection of low-level organophosphate pesticide exposure with childhood ADHD cross-sectionally and potentially. However, the outcomes have been inconstant. An earliest case-control study was carried out to examine the relationship between organophosphate pesticide exposure and ADHD with adapted covariates. A dose-response relationship was discovered between urinary concentrations of DMP and ADHD in both crude and adjusted analyses (p for trend<0.05). Children with higher urinary DMP concentrations may have a twofold to threefold increased risk of being diagnosed with ADHD. We report a dose-response relationship between child dimethyl phosphate (DMP) levels and ADHD. Organophosphate pesticide exposure can have harmful effects on the neurodevelopment of children, resulting in the establishment of ADHD. These issues are hampering the growth of the Taiwan Pesticides Market.

Taiwan Pesticides Market - Landscape:

Innovative crop protection chemical product launches, R&D activities, mergers and acquisitions, partnerships, collaborations, and joint ventures are key strategies adopted by players in the market. Taiwan Pesticides top 10 companies include:

1. Bayer Taiwan Company
2. Sinon Corporation
3. United Phosphorus (Taiwan) Ltd.
4. Sumitomo Chemical Taiwan Company
5. BASF Taiwan
6. FMC Taiwan Co. Ltd
7. Green Mountain Co., Ltd.
8. Chung Tai Sing Chemical Industry Co. Ltd.
9. GOLDSTAR AGROCHEMICAL CO., LTD.
10. MA KUANG CHEMICAL CO., LTD.

Acquisitions/Product Launches:

• In June 2021, BASF Japan and Mitsui Chemicals commenced a collaborative investigation to advance chemical recycling in Japan. By way of cooperation across the value chain, BASF and Mitsui Chemicals will assess collaborative business models and different alternatives to commercialize chemical recycling in Japan to attend to the regional challenge of plastic waste recycling. Sustainability is at the center of the business of BASF.

• In September 2020, BASF augmented its portfolio of Industrial and Transportation uses, with the launch of an optimized Red Phosphorus polyamide grade for the Asian markets. In comparison with traditional materials, the novel Red Phosphorus grade is presently the best-in-class material owing to its superior mechanical performance and great flame-retardancy, with a PH3 release value of less than 20ppm. In Asia, the red phosphorus series of products is specifically in demand for uses associated with electrification and power distribution.

• In September 2020, BASF’s Coatings division demonstrated its novel, most progressive refinish product line. By heightening the effectiveness and considerably decreasing the environmental impact, the products fulfill the greatest anticipations of contemporary body shops. At the time of the establishment of the waterborne basecoat line, the attention was put on tenable facets.

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