Agrochemicals

Agrochemicals Market Outlook

Agrochemicals are specially designed products used to enhance the productivity of crops and to protect them from insects, fungi, weeds, and pests. Agrochemicals include acidifying and liming agents, fertilizers, pesticides, and soil conditioners. Increasing pressure on farm yield improvement and declining farmlands is the major reason for the growth in consumption. Agrochemicals help farmers to fulfil demand from the rising population by increasing the amount of cultivation, which subsequently leads to higher returns on investment. Farmers are striving to achieve high quality and nutritive crop production as a result of which there has been a considerable increase in demand for agrochemicals. Growth of the population has led to higher demand for food grains which, in turn is expected to fuel growth of the agrochemicals market. However, the prolonged use of agrochemicals causes ecological and environmental damage, thus reducing its benefits. Agrochemicals can adversely affect the health of consumers, causing diseases such as cancer, autism, asthma, Alzheimer’s, and diabetes. Furthermore, these chemicals may contaminate ground water by accumulating on the land surface. Increasing agricultural and non-agricultural application of agrochemicals is propelling its demand from end-use industries. The key factors fueling growth of the market include the growing population, soil degradation, and high demand for food grains across the globe. The lower price of agrochemicals (pesticides and chemical fertilizers) compared to bio-pesticides and bio-fertilizers is a major reason for its increasing use among farmers. However, availability of various alternatives to agrochemicals such as organic pesticides made from minerals, low toxicity pesticides, bio-pesticides, and bio-fertilizers are is expected to hinder growth of the market.

According to the India Brand Equity Foundation (IBEF), a Trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, the agrochemical market in India is expected to grow at 7.5% annually due to domestic demand, and reach US$ 6.3 billion by 2020. In India, the consumption of crop protection products in 2016 was below the global average of 3kg per hectare. However, the rapidly expanding population of the country is expected to propel demand for agriculture and create immense growth opportunities for players operating in the agrochemicals market. Asia Pacific is expected to hold a dominant position in the agrochemical market owing to the population growth, the rising demand for food production, as well as rapid economic growth in the region.

Application of Agrochemicals:

  • Commodity Chemicals:

These chemicals are manufactured for agricultural and industrial use. Commodity chemicals are usually used in farming and have corrosion action on the exposed part of the human body. These chemicals include by-products and industrial waste such as acidic solutions or dilute caustic.

  • Pesticides:

Pesticide is a substance used for destroying or controlling insects or other organisms that cause harm to cultivated plants. These include insecticides, herbicides, nematicides, rodenticides, insect repellants, animal repellants, and fungicides.

  • Fertilizers:

Fertilizers are any substance of natural or synthetic origin which are applied to plant tissues or soil to supply nutrients necessary for the growth of plants.

  • On-Farm Veterinary Products:

These products are used to nurture animals, which are applied to the skin or administered orally or through injection.

Key Challenges of the Global Agrochemicals Market

  • Government Regulations:

The Environmental Protection Agency (EPA) is responsible for regulating pesticides under the FQPA (Food Quality Protection Act) and FIFRA (Federal Insecticide, Fungicide and Rodenticide Act). Agrochemical products need to adhere to stringent regulatory standards to prevent any side effects on the environment and human health.

  • Lack of Awareness:

The farmers in remote areas still practice subsistence agriculture and sell their output in local markets. Availability of land for agriculture is decreasing due to growing urbanization and the increasing number of infrastructural projects. This has created awareness among farmers, regarding the use of agrochemicals to help in efficient farming.

  • Plant location and transportation:

The manufacturing plant location of agrochemicals is significant in reducing the transportation costs from the plants to clearing and forwarding agents. If the plants are strategically located, supply delays can be avoided and transportation costs of raw materials can be reduced.

  • Minimal research and development activity:

The agrochemicals market in India has focused on manufacturing common agrochemicals instead of investing on research and development of new products. The demand for agrochemicals is increasing steadily and hence resulting in the need to manufacture products that benefit the local farmers.

Key Conferences on Agrochemicals:

The objective of these conferences is to offer high quality of education to the participants about latest research related to agrochemicals and newly developed products. The global conferences for agrochemicals held between 2016 and 2017 are listed below:

  • 19th International Conference on Plant Protection and Agrochemical Products, 2017, USA
  • 19th International Conference on Agrochemicals and Phytohormones, 2017, Cuba
  • 19th International Conference on Agrochemicals, 2017, Kyoto, Japan
  • International Crop-Science Conference & Exhibition, 2017, India
  • 11th International Crop-Science Conference and Exhibition, 2016, Goa, India
  • 3rd International Conference On Agrochemicals Protecting Crops, Health And Natural Environment, 2016, New Delhi, India
  • 4th National Conference on Agrochemicals, 2017, New Delhi, India

Key Players in the Agrochemicals Market:

Mergers, acquisitions, partnerships, collaborations, and joint ventures are the most commonly implemented strategies among manufacturers of agrochemicals. For instance, FMC Corporation, a chemical manufacturing company, acquired a significant portion of DuPont Crop Protection business to be divested with the European Commission’s ruling related to its merger with The Dow Chemical Company. In 2017, FMC Corporation generated a revenue of US$ 1.5 billion through this acquisition.

The manufacturers of agrochemicals are focusing on the development of products and implementing new innovations and technology to achieve a better position in the global agrochemical market. In 2016, Syngenta AG, a producer of agrochemicals and seeds, made an investment of US$ 1.3 billion in research and development and launched 16 new crop protection products.

Some of the key players in the global market for agrochemicals include Haifa Group, BASF SE, Syngenta AG, Yara International ASA, Bayer CropScience AG, Zuari Agro Chemicals Ltd., Gharda Chemicals Limited, and Dow Agro Sciences LLC.

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Agrochemicals Published Insights

Coherent Market Insights Magnesium Oxide Market

Published Date : May 2023

Magnesium oxide is a chemical compound with formula MgO and occurs naturally as periclase. It is a chemical compound, also known as magnesia and has a wide range of applications. Moreover, magnesium oxide is mainly used across refractory bricks for ceramic, steel, and... View more

Coherent Market Insights Pest Control Services Market

Published Date : Apr 2023

Pests and insects contaminate the environment, and spread deadly diseases such as hantavirus, rat bite fever, and plague. The most commonly used techniques for controlling the pests include chemical based repellents, poisoned baits, and traps. Government and non-gover... View more

Coherent Market Insights Biostimulants Market

Published Date : Apr 2023

Based on active ingredient, global biostimulants market is segregated into acid-based, extract-based, and others. In 2022, acid-based segment accounted for the largest revenue share of 59.4% in the global biostimulants market. However, extract-based segment ... View more

Coherent Market Insights Native Grass Seeds Market

Published Date : Mar 2023

Native grasses either individually or in combination with native forbs or wildflowers can be planted to reduce soil erosion and sedimentation, to improve water quality, and to provide wildlife habitat. Native grasses offer advantages such as less maintenance, require ... View more

Coherent Market Insights Organic Farming Market

Published Date : Mar 2023

Organic farming is a production system, which avoids or excludes the use of synthetic inputs such as fertilizers, pesticides, feed additives, and hormones and maximizes using animal manures, crop rotation, crop residues, and off farm organic waste. Organic farming mai... View more

Coherent Market Insights Floriculture Market

Published Date : Mar 2023

Floriculture is a branch of horticulture and includes the cultivation of flowering plants, bedding plants, house plants, and ornamental plants for nurseries, gardens, and green houses. The term also includes the production of flowering plants through budding, cutting,... View more

Coherent Market Insights Biological Seed Treatment Market

Published Date : Feb 2023

Biological seed treatment is the process of applying microorganisms to seeds to protect them against soil-borne diseases and insects that affect crop productivity. This method is more effective than the conventional chemical treatments, which are harmful to seeds and ... View more

Coherent Market Insights Complex Fertilizers Market

Published Date : Dec 2022

Complex fertilizers are combination of several fertilizers. These combination (complex or compound) fertilizers offer numerous advantages such as economic savings, convenience in the field, and ease in meeting crop nutritional levels. The advantages offered by these f... View more

Coherent Market Insights Seed Coating Materials Market

Published Date : Dec 2022

Seed coating is the method of protecting seed by covering it with protective material such as polymers, binders, colorants etc. The main purpose of seed coating is to improve performance of seed and timely supply of seeds at reasonable prices. Increasing population ac... View more

Coherent Market Insights Micronutrients Fertilizers Market

Published Date : Dec 2022

The iron micronutrient fertilizer comprises at least 0.1 wt. % iron. It may optionally contain other micronutrients, such as selenium and molybdenum. It may also contain other primary and secondary micronutrients. It is preferably ground to an average particle size le... View more

Coherent Market Insights Soil Treatment Market

Published Date : Dec 2022

The main aim of soil treatment is to restore the acid-base balance of the soil. It is important for a soil to have a pH level of between five and seven. If the soil's pH is higher, it needs amendments. Calcium oxide, sodium persulphate, potassium permanganate, and ozo... View more

Coherent Market Insights Specialty Pesticides Market

Published Date : Jul 2022

Pesticides are chemicals used in industrial agriculture. The pesticides are improves soil fertility, making crops more productive, also protects crops by controlling weeds (herbicides), insect and animal infestation (insecticides and rodenticides), and fungal/mold dis... View more

Coherent Market Insights Cyromazine Market

Published Date : Jul 2022

Cyromazine is an insect growth regulator (IGR) or ectoparasiticide that disrupts the development of insects and is effective against leaf miners and fly larvae. Increasing population and rising disposable income of the population is resulting in huge demand for food i... View more

Coherent Market Insights Ornamental Sunflower Market

Published Date : May 2022

The commonly cultivated variety of ornamental sunflower includes a number of varieties that are used for various purposes. Ornamental sunflowers are widely cultivated for the use as a cut flower, potted plant or in the garden therefore, the breeding of ornamental sunf... View more

Coherent Market Insights Premium Potting Soils Market

Published Date : Apr 2022

Premium potting soil is also known as potting mix or miracle soil. It is used to grow plants, herbs, and vegetables in a pot or other durable container. Premium potting soil is comprised of various ingredients such as sand, perlite,  grit (for improving drainage)... View more

Coherent Market Insights Household Insecticides Market

Published Date : Feb 2022

Household insecticides usually refer to different insecticides that are applied for insect control mainly in household settings. They are mostly used against cockroaches, flies, mice, mosquitoes, rats, and fleas. Household insecticides are safer to use than chemical-b... View more

Coherent Market Insights Transfluthrin Market

Published Date : Sep 2021

Transfluthrin is a pyrethroid insecticide with a short residual effect. Flies, mosquitoes, butterflies, and cockroaches are all killed by it. Transfluthrin is a highly flammable liquid that can be used as a contact and inhalation agent. Transfluthrin is a synthetic py... View more

Coherent Market Insights Organic Fertilizer Market

Published Date : Mar 2020

Organic fertilizers are derived from human waste, animal waste, and vegetable waste. These fertilizers mostly available in liquids, powders, and solids. Moreover, organic fertilizers reduce the need for pesticides that contain chemicals that are useful as well as harm... View more

Coherent Market Insights Dicamba Market

Published Date : Feb 2020

Dicamba is an herbicide which is used in croplands to control the growth of unwanted perennial weeds. It is a chemical compound which is a derivative of benzoic acid. Dicamba is widely used for both commercial and domestic plantations to reduce the crop loss due to th... View more

Coherent Market Insights Soil Active Herbicides Market

Published Date : Jan 2020

Herbicides are essential pest control compounds for efficient growth of food crops and other plants. Farmers use herbicides in order to control weed growth in their farms whereas, herbicides are also used to prevent growth of weeds in home gardens, lawns and landscapi... View more

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