Agriculture chemicals or agrochemicals are pesticides and fertilizers, which are used in agriculture to control insects and weeds, prevent diseases, and help to support plant growth. Agrochemicals include various materials such as fertilizers, pesticides, herbicides, insecticides, and fungicides. Fertilizers are substances added to agricultural lands to boost the growth of plants and increase crop yield. In addition, agrochemicals are substances that help to manage agricultural ecosystems and micro-organisms in the farming area. They are usually water-insoluble and need a surfactant or solvent to facilitate handling and spraying of the products as well as improve product performance and bio-efficacy.
COVID-19 scenario analysis:
- The outbreak of COVID-19 disrupted many industrial activities in agriculture and supply chains. Non-availability of migrant labor interrupts harvesting activities, particularly in northwest India where wheat and pulses are being harvested. Prices have declined for wheat, vegetables, and other crops, yet consumers are paying more.
- The Indian pesticide industry is heavily dependent on Chinese companies for imports of raw materials, and could be heavily impacted by the COVID-19 outbreak. Increase in the cost of raw material inputs and major supply gap from China affect the pesticide market globally.
- Farmers face the shortage of agricultural inputs, such as seed, fertilizers, and pesticides, due to global trade disturbance. China is one of the major fertilizer producers and exporters in the world. The lockdown in China and several countries across the globe has severely affected the international fertilizer trade.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The rise in demand for agrochemical additive is due to the rise in population, which has increased packed food consumption globally, thereby leading to an increased demand for agricultural products. In addition, there is increase in the use of agricultural chemicals to improve crop production and developments in the agriculture sector. Therefore, the usage of agrochemicals, such as fertilizers and pesticides, has become essential to fulfill the rise in demand for food. Agrochemicals play an important role to improve crop yield & quality, plant growth, and soil moisture. Based on types, agrochemicals are categorized into fertilizers, pesticides, insecticides, and others. All fertilizers are used on a large scale due to their functional qualities to improve the nutritive value of the crops as well as soil, thus increasing the crop yield and production of agro products and fertility.
However, rapid urbanization and industrialization have led to a decline in farmland areas and decrease in cultivation land, owing to the rise of several industries, houses, highways, and many other infrastructural buildings. Therefore, this hampers the market growth of agrochemical additives. Furthermore, strict rules & regulations of government incentives and investment schemes have shifted the focus of farmers from physical agriculture to core technologies, such as sulfonation, alkoxylation, amidation, and oxidation, which are expected to slowly decrease the market growth.
New product launches to boost the market:
BASF SE has launched three products in India for agriculture and it plans to launch a fungicide for rice to prevent diseases. The company’s latest insecticide, Sefina, protects cotton and vegetable crops from sucking insects. Fungicide has been especially effective on cotton pests, including Whitefly, Jassid, and Aphis. The company’s focus is on organic synthesis, advanced process, and formulation research discovery chemistry for modern agricultural solutions and molecular modeling.
Surge in usage of agrochemical additives in agriculture and industrial applications:
By region, the global agrochemicals additives market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific accounted for the largest market share for agrochemicals, followed by North America and Europe. China and India have the largest population in the Asia-Pacific region. Rise in food demand in these vastly populous countries increases the demand for agrochemicals to increase the crop yield, thereby boosting the agrochemicals market in these countries. Whereas, the usage of agrochemicals treated as a risk-hedging method and also measured as a safe investment led to increased sales of fertilizers and pesticides in the Asia-Pacific market. The agrochemicals market in Asia-Pacific is projected to grow due to investments from various multinational manufacturers, especially in countries such as China, India, and Japan.
The market growth of agrochemicals additives is driven by increased population demanding more food supply, increasing industrial advancement in the agricultural industry, rising environmental concerns, advancements in plant breeding, and managing expertise across the globe. Therefore, this leads to increased use of agrochemical additives.
Key benefits of the report:
- This study presents the analytical depiction of the agrochemicals additives market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the agrochemicals additives market share.
- The current market is quantitatively analyzed to highlight the agrochemicals additives market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the agrochemicals additives market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Agrochemicals Additives Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Form |
|
 By Crop Type |
|
 By Application |
|
 By Region |
|
 Key Market Players | PhosAgro, The Mosaic Company, Saudi Arabia Fertilizer Company (SAFCO), OCI N.V., Nutrient Ltd., Yara International ASA, Heringer, Israel Chemicals Limited (ICL), K+S KALI GmbH, Bayer AG, FMC Corporation, DowDuPont, S.A OCPJordan Abyad Fertilizers and Chemicals Company, WinHarvest Pty Ltd, DuSolo Fertilizers, Syngenta AG, BASF SE |
Loading Table Of Content...
