Agrochemicals Market is Estimate to Grow at a CAGR of 4.3% Over the Forecast Period of 2021–2030 - Digital Journal

2022-10-03 13:23:38 By : Mr. Kent Wong

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“The Global Agrochemicals Market is projected to reach USD 282.24 billion in 2021, and it is anticipated to grow at a CAGR of 4.3% over the predicted period 2032. Chemicals like pesticides, insecticides, fertilizers, liming or acidifying agents, soil conditioners, and others help crops and plants grow and protect them from pests. Growing food demand, rising population, enhancing crop growth, and agriculture productivity are some major factors contributing to the agrochemicals market growth.

New Research on the Agrochemicals Market was conducted across a variety of industries in various regions to produce more than 300+ page reports. This study is a perfect blend of qualitative and quantifiable information highlighting key market developments, industry and competitors’ challenges in gap analysis and new opportunities and may be trending in the Agrochemicals market. Some are part of the coverage and are the core and emerging players being profiled. The key market players are: Bayer Crop Science, Syngenta, BASF, Corteva, FMC, UPL Ltd, ADAMA, Sumitomo Chemical, NuFarm, Huapont Life Sciences, Jiangsu Yangnong, Nissan Chemical, Dow AgroScience LLC, Rainbow Chemical, Nanjing Red Sun, Wynca Chemical, Lier Chemical, and Nutrichem Company Ltd.

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In addition, the experts behind this study show that this well-developed record is a development of high-end research activities and a compilation of evaluations of a variety of key components acquired by different instruments that are gradually shaping the growth of the Agrochemicals industry. Furthermore, the study covers the evaluation of the degree of geographical growth, sector size, investment data, market value and benefit analysis.

Key Factors Impacting Market Growth:

The growing population is the key factor contributing to the agrochemical market growth. According to the Food and Agriculture Organization (FAO), the world population is expected to grow by over 2.3 billion by 2050. They also estimated that the population is expected to grow more rapidly in developing countries than developed countries. Hence, to meet the global demand for food, the use of agrochemicals is likely to increase, as they are beneficial for crop growth. However, pesticide regulations vary from country to country. The amount of pesticide residue allowed in one country may not be the same as other countries, which can affect international trade and pose a challenge to the agrochemicals market.

Digital farming includes technological development like the integration of artificial intelligence (AI), machine learning (ML), and drones, which are expected to boost market growth. Moreover, advancements in research and development activities are projected to drive the market. For instance, in February 2021, Syngenta collaborated with Insilico Medicine, an artificial intelligence company, to find and synthesize new molecules for chemicals and crop protection solutions.

Recent Key Developments in the Global Agrochemicals Market

• In January, 2021, PhosAgro announced that after a contract signed by Aptit mining, the renewable energy for agrochemical production would increase to supply hydroelectric power of 100MW.

• In July 2020, global consumer service company, Rollins Inc. announced the acquisition of Adams Agrochemicals Pty Ltd by one of its subsidiaries in Australia. Adams Agrochemicals joined the portfolio of brands which includes Scientific Pest Management, Statewide Agrochemicals, Murray Agrochemicals and Allpest.

• In January, 2018, Aarti Industries Ltd announced its multi-year contract with a global agriculture company worth USD 0.62 billion. The company also stated that for over 10 years, they will supply agro-chemical intermediary used in herbicide.

• Aimco Pesticides, an integrated agrochemical company in India has announced about the execution of a 3-year contract for one of its existing products and expects to generate a revenue of USD 0.03-0.033 billion.

Following are the insights contained in the report:

Product Development and Innovation Detailed insights on the upcoming technologies, product launches as well as research and development activities in the global market.

Market Penetration In-depth information on the product portfolios of the key market players in the global Agrochemicals market.

Market Development Comprehensive analysis of the emerging market. The report also studies the market for different segment of the regions. The Agrochemicals is segmented as By Type (Pesticides, Fertilizers, Soil Conditioners, Plant Growth Regulators), By Crop Type (Vegetables and Fruits, Oilseeds and Pulses, Cereals and Grains, Others), By Application (Spraying, Seed Treatment)

Market Diversification Exhaustive details about the new product design, development, untapped geography as well as investment in the Agrochemicals market. Regions covered in this report are:

North America: US, Canada, Mexico,

Europe: Germany, Russia, UK, France, Italy, Spain, the Netherlands, Rest of Europe

Asia Pacific: China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific

Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa

South America: Brazil, Argentina, Colombia, Rest of South America

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Quantifiable data: • Agrochemicals Market Data Breakdown by Key Geography, Type & Application, / End-User • Agrochemicals By type • Agrochemicals Market-Specific Applications Sales and Growth Rates (Historical & Forecast) • Agrochemicals revenue and growth rate by market (history and forecast) • Agrochemicals market size and growth rate, application and type (past and forecast) • Sales revenue, volume and Y-O-Y growth rate (base year) of Agrochemicals market,

Key Pointers Guide for Market Research Report: ● The market research report provides an in-depth overview and analytical response gauging into the changing dynamics of the global Agrochemicals market. The vendor landscape has also been analysed to study every minute details and its impact in traversing a healthy growth outlook. ● A detailed evaluation and assessment by shedding light on the historical growth tendencies and current developments have been monitored closely and penned in the report for ensuring future-ready vendor activities which encourage growth through the forecast span. ● It acts as a guide to aspiring new entrants and competent players to attain decisive perspectives leveraging growth as well as investment returns. ● A section on the geographical scope and developments have been roped in the report maximum reader understanding.

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Key Questions Answered In The Report: ● What are the various market segments mentioned in the report? ● What is the current market size of the global market? ● What are the competitive landscape and the role of the leading market players? ● What is the market forecast and how will this affect the global market? ● What are the major drivers and how will they affect market?

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