Agrochemicals refer to inorganic fertilizers and pesticides. Each fertilizer and pesticide that improves the production of crop is considered as an agro chemical. The function of agrochemicals is to manage an agricultural ecosystem. Agrochemicals as the name suggests has widespread use in the agriculture industry. Most of the applications of the agrochemicals revolve around agriculture.
The major driver is that the global population is currently at more than 7 billion and still increasing. It is possible that the food demand increases in the forecast period. Additionally, scarcity for land and water is allowing the people to use fertilizers and pesticides which will help to grow multiple crops in a certain area. In contrast, due to the rising environmental hazards from these fertilizers and pesticides it is anticipated that it is possible to foresee a decline in the usage of fertilizers and pesticides in the forecast period.
Agrochemicals, also known as agrichemicals are the special chemical products which are particularly used in the agriculture, floriculture and horticulture. In most of the cases, the agrochemicals mostly include a wide range of pesticides such as herbicides, insecticides, nematicides and fungicides. Agrochemicals also includes the synthetic fertilizers, chemical growth agents and hormones and among others. Agrochemicals are mainly used to increase the agriculture production and help to meet the demand for food grains of the continuously growing population. Rising population has resulted in the rising demand for agrochemicals. Most of the agrochemicals are toxic and bulk storage of agrochemicals.
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Industry Key Players:
The Mosaic Company (the U.S.),
Bayer CropScience Limited (Germany),
The Dow Chemical Company (the U.S.),
BASF SE (Germany),
Monsanto Company (the U.S.),
Syngenta AG (Switzerland),
Adama Agricultural Solutions Ltd (Israel),
Nufarm Limited (Australia),
Arysta LifeScience Corporation (Japan),
Crystal Crop Protection Pvt. Ltd. (India).
Agrochemical market is supported by strong growth drivers, the world population is growing at faster rate which leads to more consumptions of food this leads to more demand of agriculture industry and more the demand in the agriculture industry, more use of agriculture chemicals in the development of agriculture sector, in developing countries. Furthermore, there is low operation and labor cost hence it is easy for big players in the Agriculture business to setup their business in developing countries.
Global Agrochemicals Market segmentation by crop type:
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
Global Agrochemicals Market segmentation by application:
• Oil & Gas
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