Agrochemicals Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Agriculture
Report Code - OMR-A-117
Format: PDF, PPT, and Excel
Agrochemicals Market to Grow with a CAGR of 3.4% During 2023-2030; Market to Expand Due to Contributing Factors Such as Increasing Awareness Among the General Population
The primary purposes of agrochemicals are pest and disease control and soil improvement. Thanks to agrochemicals like growth regulators, insecticides, and fertilizers, crop yields and growth have been stabilized. Significant advancements in synthetic chemical manufacturing have resulted in vastly improved pesticide techniques that can keep pace with the astronomical growth of the global population and the concomitant increase in food demand.
The COVID-19 outbreak has significantly impacted the market for agrochemicals. The epidemic has caused supply chain hiccups, cost increases, and a drop in demand. The COVID-19 epidemic has hampered agrochemicals' supply chain. Factors including travel restrictions, quarantines, and factory closings are to blame.
Key Takeaways of the Agrochemicals Market
By Product
It is anticipated that fertilizer products will continue to dominate the market. There are three methods for fertilizing cereals and grains. These fertilizers can be applied to seedlings as a top dressing, drizzled, or mixed with other fertilizers. Utilizing the correct quantity and rate of fertilizers is essential for maximizing cereal and grain yields.
By Region
The Asia-Pacific region has dominated the agrochemicals market, which is anticipated to continue throughout the forecast period. Asia and the Pacific are important agrochemical markets due to their population and size. India, China, South Korea, and Japan are major participants in the regional market.
Growing R&D Activities Will Aid Agrochemicals Market Growth
Agrochemicals are chemicals used in agriculture to boost crop yields and defend plants from pests and diseases. According to scientific studies, the increasing use of agrochemicals in developed and developing nations is motivated by higher crop yields. Increasing pesticide/fertilizer bans have posed problems for the agrochemicals industry. In the next five years, however, development is anticipated to be driven by key manufacturers' substantial investment in new product research.
Advantages of Agrochemical Boosting the Market Growth
Agrochemicals are utilized to increase crop yield per acre of land over an extended period. As less land is required to produce enormous yields, the deforestation rate is reduced due to the use of agrochemicals. They reduce crop loss by safeguarding crops, boosting yield, and preserving product quality. This also reduces other expenses, such as labor and petroleum, thereby reducing the cost of agricultural products.
Global Agrochemicals Market Prominent Players
• BASF SE (Germany)
• CLARIANT (Switzerland)
• Yara (Norway)
• Solvay (Belgium)
• Corteva (Netherlands)
• Bayer AG (Germany)
• ADAMA (Israel)
• Dow (U.S)
• Huntsman International LLC. (U.S.)
• Ashland (U.S.)
• Croda International Plc (UK)
• Evonik (Germany)
Product
• Fertilizer
o Nitrogenous
o Potassic
o Phosphatic
o Secondary Fertilizers
o Others
• Crop Protection Chemicals
o Herbicides
o Fungicides
o Insecticides
o Others
• Plant Growth Regulators
• Others
Application
• Grains and Cereals
• Pulses and Oilseeds
• Fruits and Vegetables
• Turf and Ornamental Grass
• Others
Agrochemical Market Regional Segmentation
Report Scope for Agrochemicals Market
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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