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Expansions and Investments are the Key Strategies Adopted by Major Players in the Global Molluscicides Market

The molluscicides market was valued at USD 563.7 million in 2017; it is projected to grow at a CAGR of 4.4%, to reach USD 727.8 million by 2023. The basic objective of the report is to define, segment, and project the global market size for molluscicides on the basis of application, type, form, and region. Other objectives include analyzing the opportunities in the market for stakeholders and providing a competitive landscape of market trends, analyzing the macro and microeconomic indicators of this market to provide factor analysis, and to project the growth rate of the molluscicides market. The base year considered for the study is 2017, while the forecast period considered is from 2018 to 2023.

The key market players adopted various growth strategies such as expansions & investments and mergers & acquisitions to cater to the increasing demand for molluscicide products and to expand their businesses. The companies in this market are increasing their investments in R&D to focus on developing new agrochemicals with an idea of developing molluscicide products that are less harmful to the environment than the existing chemical molluscicides. The companies are also focusing on expanding their geographic presence by increasing their production facilities.

The companies are also investing in new technologies to create new molluscicide products to be used in various applications such as molluscicides for residential purposes and for turf and ornamental applications categorized under non-agricultural application of molluscicides. Companies such as BASF (Germany) and De Sangosse (France) are expanding their product portfolios by innovating new products. BASF (Germany), in May 2017, introduced new biological molluscicides, Nemaslug and Nemasys powder, which contain nematodes.

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Companies are also expanding their global presence by establishing new offices and production facilities and by entering into an agreement with other global players. In September 2018, Lonza Group (Switzerland) established a new production facility of specialty ingredients, which include some of its molluscicide product offerings as well, in Greenwood, SC, US; hereby expanding its production capacity. In March 2016, Lonza Group (Switzerland) and Nulandis (South Africa) signed a strategic distribution agreement to launch Axcela slug & snail pellet in South Africa.

Syngenta expanded its projects in Brazil and Switzerland. The company invested USD 240 million in 2 manufacturing plants related to crop protection products in October 2016. This helped the company to increase its customer base in other regions as well as increase its global market share in the crop protection industry. In April 2016, BASF (Germany) established a new R&D center for biological crop protection and seed solutions in Germany. This new innovation center helped the company to develop new molluscicide products. In January 2016, De Sangosse (France) introduced new a molluscicide product, METAREX INOV, in Germany, thereby enhancing its molluscicide product portfolio.

How investments in eco-friendly molluscicide products are projected to create growth opportunities for manufacturers in the market?

Major manufacturing players have begun producing environment-friendly molluscicide products by utilizing natural and non-harmful by-products. There are no efficient biological controls to combat invasive mollusks. The application of synthetic molluscicides has a toxic effect on non-target organisms; it affects crop establishment and causes problems of algal blooms and pesticide residue. This gives rise to the need for botanical molluscicides as an alternative. However, there is currently no effective, safe, and economically viable molluscicidal formulation.

Platcom Ventures Sdn Bhd (Malaysia) developed a polyherbal molluscicide, which is an effective formulation to combat invasive mollusks, especially golden apple snails. In contrast to synthetic molluscicides that have a toxic effect on non-target organisms, this polyherbal formulation is a biological control method, with low toxicity against non-target organisms and is also biodegradable.

Researchers have also discovered the use of caffeine for use against snails and slugs and have estimated that it could become an environmentally acceptable pesticide. Endod, an African soapberry, which is a plant-derived molluscicide, is also used for snail controls in developing countries along with other natural molluscicides to control mollusk growth in rice fields.

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The World Health Organization (WHO) has tested several synthetic compounds for the control of the snail host that causes the diseases, fascioliasis and schistosomiasis. Although effective, these molluscicides are not entirely suitable for public health activities. Common medicinal plants such as Thevetia peruviana, Alstonia scholaris (Family; Apocynaceae), Euphorbia pulcherima, and Euphorbia hirta (Family; Euphorbiaceae), have potent molluscicidal activity against freshwater snails.

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