Global Agrochemical Additives Market Overview:
Global Agrochemical Additives Market is projected to achieve a value of USD 1.86 Billion in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 2.64 Billion by 2033 with a CAGR of 4.5% during the forecast period 2024-2033.
Agriculture chemicals (also known as agrochemicals) are insecticides and fertilizers used in agriculture to control insects and weeds, prevent disease, and enhance plant growth. Fertilizers, pesticides, herbicides, insecticides, and fungicides are all examples of agrochemicals. Fertilizers are substances applied to agricultural lands to encourage plant growth and crop yields. Furthermore, agrochemicals are substances used to maintain agricultural ecosystems and microorganisms in farming environments. They are typically insoluble in water and require a surfactant or solvent to aid in product handling and spraying while also boosting product performance and bio-efficacy.
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Market Growth Factors:
Population expansion has increased global packaged food consumption, resulting in a greater demand for agricultural products. Furthermore, agricultural chemicals are becoming more widely used to boost crop yield and agricultural development. As a result, the usage of agrochemicals such as fertilizers and pesticides has become important in fulfilling the growing demand for food. Agrochemicals contribute to increased agricultural output and quality, plant growth, and soil moisture. Agrochemicals are divided into four categories: fertilizers, pesticides, insecticides, and others.
However, rising urbanization and industrialization have resulted in a loss of rural areas and cultivated land due to the expansion of various industries, residences, highways, and other infrastructural facilities. As a result, the demand for agrochemical additives falls. Furthermore, strict rules and regulations governing government incentives and investment schemes have shifted farmers’ focus from physical agriculture to key technologies such as sulfonating, alkylation, amination, and oxidation, which are expected to gradually slow market growth.
Agrochemical Additives Market Challenges:
The construction of various industries, dwellings, highways, and other infrastructural structures, as well as increased urbanization and industrialization, has resulted in a loss of rural regions and diminished cultivated land. As a result, the market for agrochemical additives is constrained. Furthermore, farmers’ focus has shifted from physical agriculture to key technologies such as sulfonating, alkylation, amination, and oxidation, which are expected to slow market expansion gradually. This is because to the stringent laws and regulations governing government incentives and investment initiatives.
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Market Segmentation:
Market, By Type:
- Adjuvants
- Solvents
- Emulsifiers
- Surfactants
- Anti-foaming agents
- Wetting agents
- Anti-caking agents
- pH adjusters
- Drift control agents
- Others
Market, By Application:
- Traditional Pesticides
- Seed Treatment
- Micronutrients and Fertilizers
- Soil Health
- Others
Market, By Crop Type:
- Grains & Cereals
- Fruits & Vegetables
- Oilseeds & Pulses
- Turf & Ornamentals
- Others
Market, By Form:
- Soil
- Liquid
Market Regional Analysis:
Asia Pacific is the leading stakeholder in the agrochemical additives market, accounting for 35% of overall market share. This is attributable to several factors, including the region’s huge and growing population, rising food demand, and ideal agricultural circumstances.
North America is the second largest market for agrochemical additives, with 25% of the global market share. North American farmers are early adopters of new technology and are prepared to invest in agricultural additions to increase crop yields and defend against pests and illnesses.
Europe is the third largest market for agrochemical additives, with 20% of the global market share. European farmers are also early adopters of new technologies, and they are more concerned with sustainable agricultural techniques.
Latin America is the fourth largest shareholder in the agrochemical additives market, with 15% of the total market share. Farmers in Latin America are increasingly employing agricultural chemicals to increase crop yields while also protecting them from pests and diseases.
The Middle East and Africa area has the smallest market for agrochemical additives, accounting for 5% of overall market share.
Key Players in the Agrochemical Additives Market:
- Acetone Corporation
- Akon Nobel N.V.
- BASF SE
- Bayer AG
- BTC Europe GmbH
- Clarian
- Coda International
- Dow DuPont
- Du Solo Fertilizers
- Evenki Nutrition and Care GmbH
- FMC Corporation
- Harrows Chemicals,
- He ringer
- Israel Chemicals Limited (ICL)
- Nutria chemo Company Limited
- Nutrient Ltd., OCI N.V.
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