The molluscicides market is estimated at USD 587.8 million in 2018 and is projected to reach USD 727.8 million by 2023, growing at a CAGR of 4.4% during the forecast period. The key players profiled have a strong presence in the global molluscicides market. These include Lonza Group (Switzerland), Bayer CropScience (Germany), American Vanguard Corporation (US), BASF (Germany), and Adama Agricultural Solutions (Israel).

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.

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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.

The agricultural segment is estimated to account for the larger share of the molluscicides market, by application

On the basis of application, the agricultural segment is estimated to hold the larger share of the molluscicides market in 2018. The agricultural application of molluscicides includes cereals & grains; fruits & vegetables; and oilseeds & pulses, while the non-agricultural application includes residential and commercial uses. The applicability of molluscicides is mainly limited to low-lying crops that are susceptible to attacks by snails and slugs that travel through water bodies.

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The chemical molluscicides segment is estimated to hold the larger share

On the basis of type, the chemical molluscicides segment dominated the global molluscicides market in 2018. Metaldehyde and methiocarb are the main active ingredients used in chemical molluscicides. For many decades, chemical molluscicides have been widely used in the market. However, the US EPA restricts the use of metaldehyde as a pesticide due to its negative impact on the environment and on the health of animals and humans.

North America is estimated to dominate the molluscicides market

North America is estimated to be the largest market for molluscicides in 2018. The high production of corn, oilseeds, and horticulture crops in the region is the major driver for the molluscicides market. Bulk production of these crops creates the need for molluscicides to control insects, pests, and weeds for better and efficient production. The key players in the US market include AMVAC Chemical Corporation (US) and Marrone Bio Innovations Inc. (US). To gain market share, these companies are adopting strategies such as innovative product developments, partnerships, mergers & acquisitions, and expansions of existing facilities.

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