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Agrochemicals Market Global Analysis with Top Firms, Revenue, Growth Rate and Worldwide Opportunities by 2023
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Agrochemical is a general term for the different kinds of chemical products used in agriculture. Agrochemicals refer to the broad range of pesticides, including herbicides, fungicides, insecticides and nematicides. Agrochemicals are specialty chemical products used, particularly in horticulture, agriculture and floriculture.
Growth of horticulture & floriculture, increasing awareness towards the use of fertilizers and pesticides coupled with the increasing literacy rate among farmers in major crop producing countries is boosting the global agrochemicals market.
The increasing research and development (R&D) in the field of bio-pesticides in order to compete with organic farming and integrated pest management (IPM) is one of the most recent trends in the global agrochemicals market. The excess production capacity is another opportunity in the agrochemicals market to increase exports by making use of India’s low cost producer status.
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Some of the top competitors in the global agrochemicals market are Monsanto Company, Bayer AG, Syngenta, BASF SE, Sumitomo Chemical Co., Ltd., Agrium Inc., The Dow Chemical Company, Yara, and ICL among others.
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