COVID 19 to Have Significant Effect on Worldwide Adoption of Crop Growth Regulators Market in 2020

The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.

The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.

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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.

Crop Growth Regulators & Stimulators Market: Introduction

Crop growth regulators & stimulator are class of organic compounds produced naturally or by chemical synthetics. The main function of Crop Growth Regulators & Stimulators is to intensify plant physiological processes, their growth and development, and to stimulate or inhibit specific plant enzymes or enzyme systems in order to enhance crops growth & yields.  Generally, Crop Growth Regulators & Stimulators are used in small amount, but it plays a pivotal role. A wide range of the Crop Growth Regulators & Stimulators are available in market and are classified under five main group – depend upon their chemical composition i.e. Auxins, Gibberellins, Cytokinin,  Abscisic Acid and other type. Each class have diverse function areas, for instance, Auxins helps to stimulates cell elongation and division, differentiation of phloem and xylem, and delays leaf senescence, among others whereas Cytokinins helps to stimulate or retard crops growth. Not all Crop growth regulators & stimulator are intended to enhance the plants growth rate, some are designed to slow down or inhibit growth in case of transportation and transplantation of plants and crops.

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Crop Growth Regulators & Stimulators Market: Dynamics

Along with the growing population, demand for food products has increased significantly. Therefore, to encounter this demand, more emphasized has been given on increasing the crop yield where Crop Growth Regulators & Stimulators plays a vital role to increase the yield. This has led to growth in demand for Crop Growth Regulators & Stimulators. Further, Crop Growth Regulators & Stimulators are one of the safest plant nutrients available in the market and wide range of products & its multifunctional nature which in turn help to drive market. However, the low awareness about the products may hinder the growth of the Crop Growth Regulators & Stimulators market. Also, excess use of products may damage the crops growth owing to which may impede the growth of Crop Growth Regulators & Stimulators market

Crop Growth Regulators & Stimulators Market: Segmentation

On the basis of Chemical Compound, global Crop Growth Regulators & Stimulators Market is segmented into;

1. Auxins
2. Cytokinins
3. Gibberellins
4. Abscisic acid
5. Others

On the basis of Feedstock, global Crop Growth Regulators & Stimulators Market is segmented into;

1. Natural
2. Synthetic

On the basis of Application, global Crop Growth Regulators & Stimulators Market is segmented into;

1. Vegetable Plants
2. Cereals
3. Fruits
4. Flowers
5. Oilseeds
6. Others

Crop Growth Regulators & Stimulators Market: Regional Outlook

In Asia Pacific region, increasing production and demand for agrochemicals, consequently, will result in rising demand for Crop Growth Regulators & Stimulators market over the forecast period. India and China, together, account for around 62% of the world’s population. Owing to this high population, the demand for food & Beverage and other agricultural products is also continuously increasing, which in turn demand for agrochemicals which help developing the necessity to produce maximum crop yield from the available agriculture land. Thereby, the demand for Crop Growth Regulators & Stimulators is escalating to enhance the production of foods. Moreover, In Asia Pacific, India and China are the major consumer markets for Crop Growth Regulators & Stimulators. Asia Pacific Crop Growth Regulators & Stimulators market is expected to register healthy growth over the forecast period. Moreover, Canada and the U.S. are ranked seventh and third in terms of crop nutrients consumption in the world and have significant count of arable land i.e. around 114 and 280 Mn acres. Also, with this significant growth in the agriculture industry in the North America, demand for Crop Growth Regulators & Stimulators is expected to increase steadily in the region over the forecast period. Moreover, Latin America and Middle East and Africa (MEA) Crop Growth Regulators & Stimulators market are anticipated to register slow growth over the forecast period

Crop Growth Regulators & Stimulators Market: Key Players

Some of the key players identified across the value chain of Crop Growth Regulators & Stimulators Market are listed below

1. Eastman Chemical Company
2. Zhengzhou Delong Chemical Co., Ltd.
3. Toronto Research Chemicals Inc
4. BASF SE
5. DowDuPont Inc.
6. FMC Corporation
7. Syngenta AG
8. Eagle Plant Protect Private Limited, among others

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