The demand for agricultural chemicals increased across the world owing to factors such as the growing concerns related to crop diseases along with developments in cropping techniques. In addition, the rise in government initiatives to promote agriculture and several subsidies to support the farmers drives market growth.
New York, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agrochemicals Market by Product Type, by Application and End User - Global Opportunity Analysis and Industry Forecast, 2022–2030" - https://www.reportlinker.com/p06379287/?utm_source=GNW
However, the ill effects of fertilizers and high losses in the post-harvest of crops in several countries are expected to hamper the growth of agricultural chemical. On the contrary, rising disposable income and increased spending on improving the quality of crops are expected to create ample opportunities for key players that operate in the agrochemicals market during the coming decade.
The global agrochemicals market is segmented on the basis of product type, application, end-user, and geography.
- Based on product type, the market is classified into fertilizers, pesticides, adjuvants, and plant growth regulators.
- Based on application, the market is categorized into foliar treatment, soil treatment, seed treatment, and others.
- Based on end-user, the market is divided into cereals & grains, oilseeds & pulses, fruits & vegetables, and others.
- Region wise, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
The Asia-Pacific market is projected to hold the dominant share by 2030.
The Asia-Pacific region consists of several countries such as China, India, Australia, Japan, South Korea, and rest of Asia-Pacific. It is mainly inhabited by a large number of populations. This factor drives the growth of the agrochemicals market in this region. The globalization of the agrochemical industry has a huge impact on the Asian markets. Due to the highest rate of population growth, the increasing need for food production, and economic growth, the market for agrochemicals is progressing. While the demand for food products is increasing, the available land mass for agriculture is shrinking due to the increased effect of urbanization. This factor propels farmers to use various agrochemicals to maintain soil health and increase land productivity.
Key Market Players
The emerging and efficient key players in the agrochemicals market research am include companies such as:
• Syngenta Crop Protection
• Bayer Crop Science
• Corteva, Inc.
• FMC Corporation
• Adama Agricultural Solutions
• Sumitomo Chemical
• Jiangsu Yangnong
FMC launched three new products for pest management and soil fertility. This launch aimed to support Indian farmers to achieve better yields through good quality produce and an improved soil profile.
UPL launched a new insecticide called ‘Imagine’ in Raipur, India, which is a novel insecticide with unique biological properties and long & effective residual control against BPH.
Sumitomo Chemical launched Danitol NXT, Pyclome, and Sumi Blue Diamond in India. The company has a diverse presence in crop protection, grain fumigation, rodent control, bio-pesticides, environmental health, professional pest control products, and feed additives for use in India.
Bayer AG announced a strategic partnership with Ginkgo Bioworks. The aim of the partnership was to equip Bayer to better leverage its proven capability to commercialize biologicals to create category-leading agrochemical crop products.
ADAMA Ltd. announced the launch of Timeline FX, across-spectrum spring foliar herbicide for cereals that gives the widest application window of any herbicide to control broadleaf and grass weeds for cereal crops.
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