iCrowd Newswire – Oct 19, 2020
Plant Antifreeze Market size is forecast to reach $2 billion by 2025 after growing at a CAGR of 3.5% during 2020-2025. Plant antifreeze are chemicals, which reduce the freezing point of water inside the tissues of plants. The growth of the market of plant antifreeze is expected to be driven by the high demand from the agriculture industry.
By Type – Segment Analysis
Propylene glycol antifreeze held the largest share in the plant antifreeze market in 2019. It is a colorless, viscous and odorless liquid with highly hygroscopic and miscible in all ratios with water, alcohols, esters, ketones and amines. It is also used to make polyester compounds and as a base for de-icing solutions. Propylene glycol is used by the chemical, food, and pharmaceutical industries as an antifreeze when leakage might lead to contact with food. The Food and Drug Administration (FDA) has classified propylene glycol antifreeze as an additive that is generally recognized as safe for use in food. Propylene glycol has limited miscibility with halogenated hydrocarbons and is not miscible with aliphatic hydrocarbons which make them commonly used plant antifreeze. This factor will drive the growth of market in the forecast period.
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By Application-Segment Analysis
Cereals segment held the largest share in the plant antifreeze market in 2019 with a share of 6%. Since cereals are grown in almost all countries, the global demand for plant antifreeze is high for them. On a global level, the total cereal production has been increasing, and with the growth in cereal production and consumption, it has become important for producers to focus more on its yield and quality. The cereals and grains market is witnessing growth as they are a rich source of vitamins and minerals, and are used in large amounts in animal feed. Plant antifreeze reduces the financial losses caused due to freezing temperature. Moreover, Plant antifreeze enhances the ability of cereals, thereby improving yields. These factors are expected to drive the growth of plant antifreeze during the forecast period.
The 2019–20 coronavirus pandemic has far-reaching consequences beyond the spread of the disease and efforts to quarantine it. The agriculture sector which is the end use industry of plant antifreeze is harshly effected by this epidemic. COVID-19 is disrupting activities in agriculture and supply chains. Preliminary reports show that the non-availability of labor is interrupting harvesting activities, particularly this time when wheat and pulses are being harvested. There are disruptions in supply chains because of transportation problems and other issues. Prices have declined for wheat, vegetables, and other crops, yet consumers are often paying more. These factor will hamper the growth of plant antifreeze market for this year but after the situation become normal it will grow with a steady rate in the forecast period.
Geography – Segment Analysis
North America dominates the plant antifreeze market with a share of more than 40% followed by South America, Europe and APAC. The economy of North America is mainly influenced by the economic dynamics of countries such as US and Canada, but with growing foreign direct investment for economic development of North America, the current scenario is changing. Countries in North America are witnessing high growth in agriculture cultivation has led to the use of quality inputs to obtain better crop performance. Canada has extreme cold climate, which is unfavorable to cultivate various types of fruits and vegetables. Therefore, the farmers use plant antifreeze for the plantation of crops, fruit plants, flowering plants, and others increases their resistance to freezing in cold weather, and thus helps to lower the budget for heating, which boosts the growth of the market. In addition, antifreeze reduces the financial losses caused due to freezing temperature. Moreover, it enhances the ability of plants for photosynthesis, thereby improving yields. These factors are expected to drive the market growth of plant antifreeze, during the forecast period.
Driver- Pant Antifreeze Market
Rise in the use of Natural Plant Antifreeze will drive the market
Natural Plant Antifreeze is free from toxic chemicals which does not affect the plant life as well as the fertility of the soil. The crop or fruit is free from toxic chemicals and therefore making it suitable for the human consumption. Natural Plant Antifreeze protects plants from cold harm and freezing because of freeze resistant reducing the freezing point of plant. The characteristics of natural plant antifreeze assist plants against undesired effects. It also stimulates plants to produce antifreeze proteins and antifreeze amino acids so the plants get stronger against cold and frost temporarily.
Growth of agriculture sector will drive the growth of the market
Agriculture has always been an important economic activity for the evolution of human civilization. As there has been a continuous growth in the world population, the demand for agricultural products have witnessed a surge. As the global wheat production in 2020 has dampened somewhat since last month, early forecasts point to record maize and rice outputs and a recovery in soybean production in the cold climate countries such as Canada, and some cold weather province of China and others. This factor will drive the growth of plant antifreeze market in the forecast period.
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Challenges- Plant Antifreeze Market
Toxic nature of Plant Antifreeze will hinder the growth of the Market
Ethylene glycol is a type of plant antifreeze which is extremely toxic in nature. It is converted into calcium oxide when ingested. These Crystals then build up in the heart, lungs and kidneys which could cause permanent damage. The toxic nature of plant antifreeze is hazardous not only for human health but when it is accidently kept in contact with plant roots, the plant growth will be affected. The soil will lose its fertility. These factor will hindering the growth of the market of plant antifreeze in the forecast period.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the plant antifreeze market. Major players in the plant antifreeze are BASF SE, Syngenta, Monsanto Europe, DuPont de Nemours, Dow AgroSciences and others.
Acquisitions/Technology Launches/Product Launches
In June 2020, Cropaid International Limited has launched plant antifreeze under the name Cropaid and natural plant antifreeze. Cropaid Natural antifreeze is biodegradable and safe. It is superior to its partners since it lessens the impacts generally spring cold and early fall cold and builds obstruction of nursery plants. Moreover, it builds the characteristics of products of the soil, for example, taste, scents, and hues.
North America dominates the plant antifreeze market owing to increasing demand from agriculture sector.
Natural plant antifreeze is driving the growth of the plant antifreeze market in the forecast period.
Toxicity of antifreeze can be devastating to the health of the soil and the plants are likely to hinder the market growth of plant antifreeze.
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