Overview and Scope
Halogenated agrochemicals refer to agricultural chemicals modified chemically by adding halogen atoms, such as fluorine (F) and chlorine (Cl). These compounds are commonly used as pesticides, herbicides, fungicides, and insecticides to protect crops from pests, diseases, and weeds. Halogenation often enhances the chemical’s effectiveness, stability, and ability to persist in the environment, although it can also raise concerns about environmental and health impacts due to its potential persistence and toxicity.
Sizing and Forecast
The halogenated agrochemicals market size has grown strongly in recent years. It will grow from $177.82 billion in 2023 to $189.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increasing food demand, economic growth in developing regions, government support, increasing awareness of agrochemical benefits, soil degradation, and limited agricultural land.
The halogenated agrochemicals market size is expected to see strong growth in the next few years. It will grow to $247.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to bio-based agrochemical adoption, precision agriculture focus, increasing R&D investments, growth in organic farming impacting demand, sustainable agricultural practices, and increasing regulatory scrutiny. Major trends in the forecast period include a shift towards sustainable alternatives, advanced digital farming technologies, innovation in formulations and delivery methods, and integrated pest management (IPM).
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Segmentation & Regional Insights
The halogenated agrochemicals market covered in this report is segmented –
1) By Type: Herbicides, Insecticides, Fungicides
2) By Halogen Type: Chlorine Based Agrochemicals, Bromine Based Agrochemicals, Fluorine Based Agrochemicals, Iodine Based Agrochemicals
3) By Application Method: Foliar Spray, Soil Treatment, Seed Treatment
4) By End User: Farmers And Agricultural Workers, Agricultural Companies
Asia-Pacific was the largest region in the halogenated agrochemicals market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the halogenated agrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for food production is expected to propel the growth of the halogenated agrochemicals market going forward. The demand for food production is due to population growth, urbanization, dietary changes, and increasing incomes. Halogenated agrochemicals protect crops from pests and diseases, contributing to higher yields and ensuring food security amidst escalating global demand for agricultural products. For instance, in December 2022, according to the Food and Agriculture Organization (FAO), an Italy-based specialized agency of the United Nations, the global production of primary crop commodities in 2021 increased by 2% from the previous year, reaching a total of 9.5 billion metric tons. Cereals were the dominant crop group, accounting for 32% of this production, followed by sugar crops at 22% in 2021. Therefore, the rising demand for food production will drive the growth of the halogenated agrochemicals market.
Key Industry Players
Major companies operating in the halogenated agrochemicals market are BASF SE, Bayer AG, Sumitomo Chemical Company Limited, Corteva Agriscience Inc., Syngenta AG, Mitsui Chemicals Inc., Lanxess AG , United Phosphorus Limited (UPL) Limited, FMC Corporation, ADAMA Agricultural Solutions Ltd., Nufarm Limited, Zhejiang Wynca Chemical Group Co Ltd, Nissan Chemical Corporation, Kumiai Chemical Industry Co. Ltd., Nippon Soda Co Ltd, Ishihara Sangyo Kaisha Ltd., Sipcam Oxon Group, Dow AgroSciences LLC, Cheminova A/S, AMVAC Chemical Corporation, Sharda Cropchem Limited, Rotam Global AgroSciences, Albaugh LLC, Crystal Crop Protection Limited, Drexel Chemical Company, Isagro SpA
The halogenated agrochemicals market report table of contents includes:
1. Executive Summary
2. Halogenated Agrochemicals Market Characteristics
3. Halogenated Agrochemicals Market Trends And Strategies
4. Halogenated Agrochemicals Market – Macro Economic Scenario
5. Global Halogenated Agrochemicals Market Size and Growth
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32. Global Halogenated Agrochemicals Market Competitive Benchmarking
33. Global Halogenated Agrochemicals Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Halogenated Agrochemicals Market
35. Halogenated Agrochemicals Market Future Outlook and Potential Analysis
36. Appendix
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