According to TechSci Research report, “Asia-Pacific Agrochemical Intermediates Market – By Region, Competition, Forecast and Opportunities, 2018-2028”, Asia-Pacific Agrochemical Intermediates Market Size is USD 21,735.13 million in 2022 and is anticipated to increase at a CAGR of 4.24% through 2028. Agrochemical intermediates are chemical compounds that play a vital role in the production of agrochemicals, making them indispensable in modern agriculture. Their importance lies in their ability to significantly boost crop yields, maintain crop quality, and reduce the environmental impact associated with agricultural practices.
While the use of synthetic agrochemicals has raised concerns regarding potential adverse effects on the environment and human health, ongoing research and development efforts are actively promoting the emergence of more sustainable and environmentally friendly alternatives in the agrochemical sector.
Furthermore, the rise of precision farming, an agricultural approach that leverages technology to optimize crop yields and minimize resource wastage, heavily relies on the precise application of agrochemicals. Achieving this level of precision requires the use of specialized agrochemical intermediates, solidifying their status as an essential component of modern farming practices.
The adoption of precision farming techniques is steadily increasing, particularly in developed countries, where farmers are actively seeking ways to enhance operational efficiency and reduce costs. Consequently, the growing adoption of precision farming techniques is driving the demand for agrochemical intermediates. Additionally, agrochemical intermediates play a critical role in the production of various types of pesticides, including herbicides, fungicides, and insecticides.
Prominent examples of these agrochemical intermediates include 4-fluorotoluene Diethyl Phosphorochloridothionate, 2-chloro-6-(Trichloromethyl) Pyridine, 2-chloro-5-chloro Methyl Pyridine, and 2-Chloropropionic Acid. Amines, alkylamines, aldehydes, and acids are among the most commonly used agrochemical intermediates among end-users, further contributing to the growth of the Asia-Pacific Agrochemical Intermediates Market in the forecast period.
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Moreover, amines, including alkylamines, serve as highly versatile agrochemical intermediates extensively utilized in the synthesis of a wide range of agricultural chemicals. Their pivotal role extends to the production of herbicides, fungicides, insecticides, and plant growth regulators. Amines’ ability to participate in various chemical bonding processes makes them indispensable for customizing agricultural solutions tailored to specific crops and geographic regions. Additionally, certain agrochemical intermediates comprise specialized components sourced from renewable origins, such as agricultural residues, plant extracts, and microbial processes. These environmentally friendly intermediates play a critical role in the production of sustainable agrochemicals.
The Asia-Pacific Agrochemical Intermediates Market is segmented into product type, application, country distribution, company, and region
Based on the category of product type insights, the amines segment is expected to register the highest growth of 4.72% during the forecast period 2024-2028. The expansion of the agrochemical intermediates market can be attributed to its wide array of applications, cost-effectiveness, high level of environmental sustainability, and minimal regulatory compliance demands. Amines are versatile intermediates extensively used in the production of various agrochemicals, including herbicides, fungicides, insecticides, and plant growth regulators.
This extensive range of applications positions amines as the preferred choice for companies operating within the agrochemical intermediates sector. Moreover, amines are favored by companies in this market due to their adherence to regulatory requirements. For instance, amines are commonly employed in the synthesis of agrochemicals that have received regulatory approvals from entities in the region. This commitment to meeting regulatory standards is expected to drive the growth of the Asia-Pacific Agrochemical Intermediates Market throughout the forecast period.
Based on the application, the herbicides segment is expected to register the highest growth of 4.75% during the forecast period, 2024-2028. This trend can be attributed to the expansion of agricultural activities, the potential for innovative solutions, and supportive government policies. Herbicides play a pivotal role in weed control, ultimately leading to increased crop yields and enhanced food security. The utilization of herbicides enables the development of tailored solutions designed for various crops and geographic regions. This flexibility allows companies to distinguish themselves in the market by providing specialized solutions that cater to the unique requirements of their customers. The surge in herbicide demand, driven by the rising food needs and a focus on sustainable agricultural practices, is driving the growth of the Asia-Pacific Agrochemical Intermediates Market in the projected period.
Based on country, India will witness the fastest growth during the forecast period, 2024-2028. The demand for agrochemical intermediates in India has been on a steady rise, reflecting the country’s evolving agricultural landscape. India’s vast and diverse agricultural sector, which supports the livelihoods of millions of farmers, continues to seek innovative solutions to address the growing demand for food, feed, and fiber.
Agrochemical intermediates, which serve as essential components in the production of pesticides, fertilizers, and other agricultural inputs, have become increasingly crucial in modern farming practices. One of the primary drivers of this demand surge is the need to enhance agricultural productivity. India’s population is rapidly growing, and with it, the demand for food is increasing exponentially. To meet this demand, farmers are increasingly turning to agrochemicals to protect their crops from pests, diseases, and weeds while optimizing nutrient utilization. As a result, the agrochemical intermediates market has expanded to cater to the diverse needs of Indian agriculture.
Furthermore, the push towards sustainable agriculture has also contributed to the increased demand for agrochemical intermediates. Indian farmers are increasingly aware of the importance of environmentally friendly and socially responsible farming practices.
Agrochemical intermediates play a pivotal role in the development of eco-friendly pesticides and fertilizers that minimize harm to non-target organisms, reduce soil and water pollution, and promote safer working conditions for agricultural laborers. Government policies and initiatives have further propelled the demand for agrochemical intermediates in India. The government’s focus on doubling farmers’ incomes by promoting advanced farming practices, including the judicious use of agrochemicals, has spurred investments and research in this sector. Additionally, the “Make in India” campaign has encouraged domestic production of agrochemical intermediates, fostered self-sufficiency, and reduced dependency on imports.
Major companies operating in the Asia-Pacific Agrochemical Intermediates Market are:
- Mitsubishi Chemical Group Corporation
- LG Chem Ltd.
- Sumitomo Chemical Co., Ltd.
- Alkyl Amines Chemicals Limited
- Swarup Chemicals (P) Ltd.
- India Pesticides Limited
- Ishihara Sangyo Kaisha, Ltd.
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“The market has witnessed substantial growth in recent times, primarily fueled by the growing adoption of agrochemical intermediates within the agricultural sector. These essential intermediates play a fundamental role in the production of pesticides, herbicides, and fungicides, assisting farmers in increasing crop yields, managing pests and diseases, and enhancing overall crop quality. Furthermore, there is a growing demand for agrochemical intermediates sourced from natural or organic origins, particularly bio-based agrochemicals. These bio-based agrochemicals are extracted from natural sources and are widely considered a safer and more environmentally friendly alternative compared to their synthetic counterparts. The anticipated increase in demand for bio-based agrochemicals is expected to drive the need for the corresponding agrochemical intermediates essential in their manufacturing processes. These bio-based agrochemical intermediates originate from renewable sources, resulting in a reduced carbon footprint and promoting long-term sustainability, aligning with the evolving environmental preferences in the market that creates a lucrative opportunity in market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Asia-Pacific Agrochemical Intermediates Market, By Product Type (Amines, Alkyl Amines, Aldehydes, Acids, Others), By Application (Herbicides, Insecticides, Fungicides, Nematicides, Others), By Country, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Asia-Pacific Agrochemical Intermediates Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Asia-Pacific Agrochemical Intermediates Market.
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Table of Content-Asia-Pacific Agrochemical Intermediates Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customer
- Impact of COVID-19 of Asia-Pacific Agrochemical Intermediates Market
- Asia-Pacific Agrochemical Intermediates Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Product Type (Amines, Alkyl Amines, Aldehydes, Acids, Others)
6.2.2. By Application (Herbicides, Insecticides, Fungicides, Nematicides, Others)
6.2.3. By Country (China, India, Australia, Japan, South Korea, Thailand, Indonesia, Vietnam, Malaysia, Singapore)
6.2.4. By Company (2022)
6.3. Market Map
6.3.1. By Product Type
6.3.2. By Application
6.3.3. By Country
- China Agrochemical Intermediates Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Product Type
7.2.2. By Application
