New York, United States , Aug. 05, 2024 (GLOBE NEWSWIRE) -- The Global Agrochemical Intermediates Market Size is to Grow from USD 4.21 Billion in 2023 to USD 7.21 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.5% during the projected period.
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Agrochemical intermediates are widely used in the manufacturing of pesticides, including fungicides, insecticides, and herbicides. Substances such as 2-chloro-6-(Trichloromethyl) Pyridine, 2-chloro-5-chloro Methyl Pyridine, 2-fluoro toluene Diethyl Phosphorochloridothionate, and 2-chloropropionic Acid are commonly discovered to contain agrochemical intermediates. The most often utilized agrochemical intermediates by Applications include aldehydes, amines, acids, and alkylamines. Furthermore, due to they make it simpler to generate agrochemicals like fertilizers and insecticides, agrochemical intermediates are crucial in assisting farmers and other agricultural producers in meeting the growing need for food as the world's population grows. These intermediary molecules contribute to increased agricultural yield, which ensures a consistent and ample supply of food. Moreover, the need for food production and the market for agrochemical intermediates are closely related. Furthermore, there is a constant need for agricultural products due to the world's population growth. The latest estimate from the UN puts the number of people on the earth at 7.3 billion. Agrochemicals are essential for optimal agricultural output as well as a steady and abundant food supply. By providing crops with vital nutrients and shielding them from pests and disease, they provide a substantial contribution to the security of the world's food supply. As a result, the industry is expanding due to population growth. However, among the various challenges and issues facing the agrochemical intermediates sector, environmental concerns may affect the industry's growth and development.
Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the "Global Agrochemical Intermediates Market Size, Share, and COVID-19 Impact Analysis, By Type (Bio-Based and Synthetic), By Product (Aldehydes, Alkylamines, Amines, and Acids), By Application (Insecticides, Herbicides, and Fungicides), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The synthetic segment is anticipated to hold the greatest share of the global agrochemical intermediates market during the projected timeframe.
Based on the type, the global agrochemical intermediates market is divided into bio-based and synthetic. Among these, the synthetic segment is anticipated to hold the greatest share of the global agrochemical intermediates market during the projected timeframe. Synthetic agrochemical intermediates are synthetic chemicals made by use of chemical processes. These substances have long dominated the market due to their well-established existence, accessibility, and extensive application in agriculture.
The aldehydes segment is expected to grow at the fastest pace in the global agrochemical intermediates market during the projected timeframe.
Based on the product, the global agrochemical intermediates market is divided into aldehydes, alkylamines, amines, and acids. Among these, the aldehydes segment is expected to grow at the fastest pace in the global agrochemical intermediates market during the projected timeframe. The global market for agricultural intermediates is growing owing in large part to aldehydes. They serve as the essential raw components needed to produce various pesticides, herbicides, and fungicide formulations. As the world's population grows and the climate changes, this aids in boosting agricultural productivity and addressing issues related to food security.
The herbicides segment is predicted for the highest revenue share in the global agrochemical intermediates market during the estimated period.
Based on the Application, the global agrochemical intermediates market is divided into insecticides, herbicides, and fungicides. Among these, the herbicides segment is predicted for the highest revenue share in the global agrochemical intermediates market during the estimated period. Herbicides are effective at controlling weed populations, improving agricultural yields and quality, and significantly boosting the expansion of the worldwide agrochemical intermediate market. Their widespread acceptance is being fueled by the need for efficient farming techniques to meet the food demands of the world's expanding population. The emergence of herbicide-resistant crops and technological advancements in selective and non-selective herbicide variations have made herbicide formulations more valuable. Regulations focused on environmentally sustainable practices and integrated weed management strategies impact market trends. Because of this, herbicides are crucial to modern agriculture, which is why the agrochemical intermediate industry is expanding.
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Asia Pacific is expected to hold the largest share of the global agrochemical intermediates market over the forecast period.
Asia Pacific is expected to hold the largest share of the global agrochemical intermediates market over the forecast period. Due to its sizable population, excellent agricultural output, and significant agricultural industry India and China have large markets due to their substantial agriculture industries and large populations. The rapidly expanding population of Asia-Pacific and farmers' desire for efficient crop protection products are driving market growth. The main drivers in the region are the increasing population, increased food consumption, and substantial agricultural sector.
North America is predicted to grow at the fastest pace in the global agrochemical intermediates market during the projected timeframe. With advanced farming practices, high agrochemical intermediate consumption per person, and a strong regulatory structure, the North American agrochemical intermediates industry is well-established and developed. The United States is the region's main market and the source of a sizable amount of agricultural output.
The European market for agrochemical intermediates is characterized by large-scale agricultural output and advanced farming technologies. The creation of sustainable and ecologically friendly agrochemical products is motivated by the region's strong emphasis placed on environmental constraints. There are stringent laws governing the use of agricultural intermediates in European nations.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Agrochemical Intermediates Market include RohnerChem, Eastman Chemical Company, Arkema, AGC, Lonza, Sugai Chemical Industry Co., Kuraray Co., BASF SE, Evonik Industries, Air Water Inc., Astec LifeSciences Ltd., WeylChem Group, DPx Fine Chemicals, Mitsubishi Corporation, and others.
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Recent Developments
- In March 2024, Prominent producer of agricultural technology Sipcam Oxon SpA declared that it has purchased all of the distribution assets of French company Phyteurop SA through its newly formed subsidiary Sipcam France SA.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Agrochemical Intermediates Market based on the below-mentioned segments:
Global Agrochemical Intermediates Market, By Type
- Bio-Based
- Synthetic
Global Agrochemical Intermediates Market, By Product
- Aldehydes
- Alkylamines
- Amines
- Acids
Global Agrochemical Intermediates Market, By Application
- Insecticides
- Herbicides
- Fungicides
Global Agrochemical Intermediates Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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