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Agrochemical Industry Sees Remarkable Growth as Demand for Sustainable Agriculture Surges
Agrochemicals Market
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The major types of agrochemicals are insecticides, pesticides, herbicides, fertilizers, soil conditioners, and fungicides. When insects, animals, and fungal species are attracted to the source of food, it can drastically reduce the supply of that plant. Thus, a large number of agrochemicals are used. Recently, the demand for natural fertilizers has increased significantly due to the rise in popularity of organic farming, which avoids the use of synthetic agrochemical varieties.
The agrochemicals market is segmented into type and region. By type, it is categorized into fertilizers and pesticides. By fertilizers, the market is bifurcated into synthetic and biofertilizers. By pesticides, the market is categorized into insecticides, herbicides, fungicides, and other pesticides. By region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Based on type, the pesticides segment is projected to register the highest CAGR of 3.6% during the forecast period. However, the fertilizers segment held the largest share in 2020, accounting for more than two-thirds of the market.
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Key Market Players
1. AGRIUM INC
2. BASF SE
3. BAYER AG
4. DOW AGROSCIENCES LLC
5. I. DU PONT NEMOURS AND COMPANY
6. MONSANTO COMPANY
7. SUMITOMO CHEMICAL CO
8. SYNGENTA AG
9. THE MOSAIC CO
Other players operating in the value chain of the global agrochemicals market are Makhteshim Agan Industries Ltd., CF Industries Holdings Inc., Jordan Abyad Fertilizers & Chemicals Company, K+S AG, Uralkali, ADAMA Agricultural Solutions Ltd., Nufarm Ltd., IFFCO, SQM, American Vanguard Corporation, Haifa Group, Zuari Agro Chemicals Ltd., Gharda Chemicals Limited, Valent USA Corp., United Phosphorus, Ltd., Rotam Cropsciences, Inc., Qatar Fertiliser Co., Ltd., Koch Minerals Co., LLC, Arysta Lifescience Corp., Drexel Chemical Co., and CF Industries, Inc.
Full Report Summary: https://www.alliedmarketresearch.com/agrochemicals-market
The global agrochemicals market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. By region, Asia-Pacific has the dominant market share in 2020 and is anticipated to maintain its dominance during the forecast period. This is attributed to numerous factors such as a huge consumer base and the presence of key players in the region. Moreover, Asia-Pacific is anticipated to grow at a noteworthy rate owing to rise in end users in developing countries such as China, Australia, and India.
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