Pune, Feb. 27, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Agrochemical Additive Market Size, Share & Trends Analysis Report By Type (Fertilizers, Pesticides, Insecticides, Herbicides, And Fungicides), Form (Solid And Liquid),Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, And Others (Plantation Crops And Hydroponics)), Application (Traditional Pesticides, Seed Treatment, Micronutrients And Fertilizers, Soil Health, And Others)- Market Outlook And Industry Analysis 2031"
The global agrochemicals additives market is estimated to reach over USD 2.53 billion by 2031, exhibiting a CAGR of 4.67% during the forecast period.
Agrochemicals contribute to the management of microorganisms and agricultural ecosystems in agricultural regions. In order to facilitate the handling and spraying of the items and improve their performance and bio-efficacy, they are commonly insoluble in water and require the use of a surfactant or solvent. Fertilizers, pesticides, herbicides, insecticides, and fungicides are a few examples of agrochemicals. Due to growing urbanization, government incentives, and investment programs, farmers' attention is anticipated to shift from manual agriculture to crucial technologies, including sulfonation, alkoxylation, amidation, and oxidation. The requirement for agricultural products would rise due to the rising food demand, driving the need for agrochemical additives during the forecast period.
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The expansion of the agrochemical additives market is anticipated to be constrained during the projected period by consumers' growing aversion to chemical additives and preference for biopesticides.
List of Prominent Players Covered in the Agrochemicals Additives Market Report :
- Aceto Corporation
- AkzoNobel N.V.
- BASF SE
- Bayer AG
- BTC Europe GmbH
- Clariant
- Croda International
- DowDuPont
- DuSolo Fertilizers
- Evonik Nutrition and Care GmbH
- FMC Corporation
- Harcros Chemicals
- Heringer
- Israel Chemicals Limited (ICL)
- Jordan Abyad Fertilizers and Chemicals Company
- K+S KALI GmbH
- LEVACO Chemicals
- Lonza
- Nufarm Ltd.
- Nutrichem Company Limited
- Nutrient Ltd.
- OCI N.V.
- PhosAgro
- S.A OCP
- Saudi Arabia Fertilizer Company (SAFCO)
- Stepan Company
- Syngenta AG
- The Mosaic Company
- UPL Limited
- WinHarvest Pty Ltd
- Yara International ASA
- Other Prominent Players
Agrochemicals Additives Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 1.70 billion |
| Revenue forecast in 2031 | USD 2.53 billion |
| Growth rate CAGR | CAGR of 4.67% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, Volume in Thousand Tons and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Market Dynamics:
Drivers-
The increase in population has increased the global consumption of packaged foods, raising the demand for agricultural goods and, in turn, boosting the demand for agrochemical additives. Agricultural chemicals are now being used more frequently to improve crop output, and the agriculture industry is developing. To meet the growing demand for food, it has become necessary to use agrochemicals like pesticides and fertilizers. Agrochemicals are crucial in enhancing soil moisture, plant growth, and crop output & quality. Agrochemicals are divided into fertilizers, pesticides, insecticides, and other categories based on their types. Due to its ability to increase the nutritional content of soil and crops, fertilizers are used extensively to increase fertility, crop yield, and output of agro products.
Challenges:
Due to the expansion of numerous industries, homes, highways, and other infrastructural structures, increasing urbanization and industrialization have resulted in a loss in rural areas and decreased cultivation land. This consequently inhibits the market expansion of agrochemical additives. Furthermore, farmers' attention has been diverted from physical agriculture to core technologies like sulfonation, alkoxylation, amidation, and oxidation, which are predicted to slow market growth gradually. This is due to the strict rules and regulations of government incentives and investment schemes.
Regional Trends:
Asia Pacific is expected to account for a significant market share in value among all other regions due to the region's rising need for agricultural activities. This is because agriculture is a standard industry in emerging nations, together with the fact that countries with little amounts of available land must utilize agricultural additives to boost yield per acre. Additives will increase output rates on the same plot of land, producing jobs to support and encourage this overflow of labor employed in agrochemicals.
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Recent Developments:
- In May 2022, The VICTRATO® seed treatment technique was introduced by Syngenta. It targets nematodes and fungal diseases, intending to increase crop quality and yield while enhancing the soil's long-term health.
- In December 2019, A joint venture between Solvay and Anthea, a significant manufacturer of speciality chemicals in India, was established as "CATàSYNTH Speciality Chemicals." This was to be used by the two businesses to start making catechol derivatives. In addition, it is dedicated to creating and providing a wide variety of products, such as helional and heliotropin (piperonal), which are extensively used in the agrochemical, pharmaceutical, and flavors and perfumes industries.
Segmentation of Agrochemicals Additives Market-
By Type-
- Fertilizers
- Pesticides
- Insecticides
- Herbicides
- Fungicides
By Form-
- Solid
- Liquid
By Crop type-
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
- Others (Plantation Crops and Hydroponics)
By Application-
- Traditional Pesticides
- Seed Treatment
- Micronutrients and Fertilizers
- Soil Health
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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