The agrochemicals market generated revenue of $202,584 million in 2015 and is expected to reach $276,374 million by 2022, registering a CAGR of 4.6%. The term agrochemicals defines a wide range of specifically engineered chemicals, such as pesticides, insecticides, fungicides, and others that effectively enhance the crop productivity by increasing soil fertility and protecting the crops against pests and weeds. Agrochemicals are further classified into synthetic, semi-synthetic, and bio-agrochemicals.
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The major factors that drive the agrochemicals market include the growth in demand for food, soil degradation, and increased adoption of bio-agrochemicals. Rapid increase in population results in rise in demand for food on a global basis, thus surged the use of agrochemicals to enhance the crop productivity.
Key Players:
Agrium Inc.,American Vanguard Corporation.,BASF SE,Bayer AG,Cheminova,Chemtura Agrosolutions,Dow Agrosciences LLC,E. I. Du Pont De Nemours and Company,FMC Corporation,Indian Farmers Fertilizer Cooperative Ltd. (IFFCO),Israel Chemicals Ltd.,K+S AG,Nufarm Ltd.,Sociedad Quimica Y Minera De Chile S.A.,Sumitomo Chemical Co.,Syngenta AG,Sociedad Quimica Y Minera De Chile S.A.,The Mosaic Co.,Yara International ASA.
However, the presence of eco-friendly alternatives and increase in environmental concerns could hamper the market growth during the forecast period. In addition, significant growth opportunities are available in the market for the development of new and safe bio-based agrochemicals.
The global agrochemicals market is segmented on the basis of product type and geography. Based on product type, it is bifurcated into fertilizers and pesticides. Fertilizers are further classified into synthetic fertilizers (nitrogenous, phosphatic, potassic, and others) and biofertilizers. The pesticides segment is further sub-segmented into herbicides, insecticides, fungicides, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The study conducts SWOT analysis to assess the strengths and weaknesses of the key players engaged in the Agrochemicals market. Moreover, the report undertakes an elaborate examination of drivers and constraints operating in the market. The report also evaluated the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Agrochemicals market segments and regions
Competitive scenario:
The study assesses factors such as segmentation, description, and applications of Agrochemicals industries. It derives accurate insights to give a holistic view of the dynamic features of the business, including shares, profit generation, thereby directing focus on the critical aspects of the business.
Major highlights of the report:
- An all-inclusive evaluation of the parent market
- The evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of the market value and volume in the past, present, and forecast years
- Market share evaluation
- Study of niche industrial sectors
- Tactical approaches of the market leaders
- Lucrative strategies to help companies strengthen their position in the market.
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