Agrochemicals Market to show significant growth| Key Players: BASF, Bayer CropScience, Dow Agrosciences LLC, Agrium, Syngenta AG, and Monsanto Company

The global agrochemicals market generated USD 225.65 billion in 2017 and is anticipated to grow at a CAGR of 3.3% during the forecast period.

Agrochemicals are the chemicals used in the agricultural fields to protect crops, fertilize, and regulate plant growth. These are also used in non-crop-based applications such as in turf & ornamental grass.

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Agricultural industry is strongly driven by the rising agricultural income in emerging nations, environmental policies, international trade patterns, and increasing end-user demand. Growing population along with the rising rural and urban incomes have substantially aided the growth of agrochemicals in the developing countries such as India, which is currently the fourth largest producer of agrochemicals in the world.

Governmental policy support for enhanced production of agricultural products have also played a significant role in the agrochemicals industry. Emerging nations have witnessed higher growth in the agricultural industry since past a decade where government has supported the industry strongly.

For instance, India has one of the world’s most competitive agricultural industry and includes policy supports such as National Mission on food processing, development of seeds backed by 100 % FDI under automatic route, and promotional rationalization of tariffs. Such phenomenon has strongly driven the consumption of agrochemicals.

Some of the attractive opportunities in the agrochemicals market include growing demand for agricultural inputs such as fertilizers & hybrid seeds, storage facilities expansions, and investment prospects in food infrastructure, contract farming, and agriculture. The government support has also been a key growth factor for the market. An instance includes the expansion of 35 million tons of the potential storage capacity under the 12th five-year plan for India, launched in 2017.

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The global agrochemicals sector has seen the forefront of consolidation in the past three years due to few mega deals. Agrochemicals along with the industrial gasses sector were the most impacted chemical mergers & acquisitions by deal value between 2011-2016. Such trends led to decrease in competitive rivalry but increased the barriers to entry for new players due to presence of large market players.

Competitive Landscape and Key Vendors

Asia Pacific is anticipated to be the dominant regional player for agrochemicals. This region constitutes of emerging countries with high proportion of agricultural land, favorable climatic conditions, increasing farm mechanization, rising consumption expenditure, and global standing in terms of production. The Indian subcontinent and the Southeast Asian region is the most lucrative for the agrochemicals market.

The global agrochemicals market is highly competitive and constitutes of numerous vertically integrated major players from the raw material to distribution stage of the values chain. Some of the major agrochemicals market players include BASF, Bayer CropScience, Dow Agrosciences LLC, Agrium, Syngenta AG, and Monsanto Company.

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Key Segments

Product Segment

• Pesticides
o Organophosphates
o Bio-Pesticides
o Others
• Fertilizers
o Nitrogenous
o Phosphatic
o Others

Application Segments

• Crop-based
• Non-crop-based

Region

• North America
o U.S.
o Canada

• Europe

o Germany
o UK
o France
o Rest of Europe

• Asia-Pacific

o China
o India
o Japan
o Rest of Asia-Pacific

• Latin America

o Brazil
o Mexico
o Rest of Latin America

Middle East and Africa.

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