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Agrochemical Market Trends and Forecast
The future of the agrochemical market looks promising with opportunities in the pesticide and fertilizer market.The global agrochemical market is expected to reach an estimated $489.1 billion by 2030 with a CAGR of 3.4% from 2024 to 2030. The major drivers for this market are growing population, limited agricultural land, and increase in awareness in the consumers regarding the benefits of agrochemicals.
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Fertilizer will remain the largest segment and it is expected to witness the highest growth over the forecast period due to its better cleansing and moisturizing properties due to growing demand for nitrogen fertilizers by farmers including synthetic ammonia, nitric acid, ammonium nitrate, and urea.
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Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing population and growing demand for sustainable production of food.
Asia Pacific is expected to remain the largest region in the Agrochemical Market
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United States: Companies like Bayer CropScience and Corteva Agriscience are investing in research for innovative agrochemical solutions. Bayer announced a $5.6 billion investment in R&D for sustainable agriculture. The US government aims to support agrochemical innovation through funding initiatives like the USDA's Agricultural Research Service.
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China: Chinese firms such as Syngenta Group and Sinochem Group are expanding agrochemical production capacities. Syngenta announced a $2 billion investment in China for agricultural innovation. The Chinese government aims to promote modernization of agriculture and sustainable farming practices.
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Brazil: Companies like FMC Corporation and BASF are focusing on developing agrochemical solutions tailored to Brazilian agriculture. FMC announced investments in expanding production facilities in Brazil. The Brazilian government aims to support agrochemical innovation through partnerships with industry and research institutions.
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India: Indian companies like UPL Limited and PI Industries are investing in research for new agrochemical formulations. UPL announced a partnership with a Japanese firm for technology transfer. The Indian government aims to promote agrochemical innovation through schemes like the National Mission on Sustainable Agriculture.
Emerging Trends in the Agrochemical Market
Emerging trend, which has a direct impact on the dynamics of the industry, includes increasing use of bio based agrochemical, such as bio-fertilizer and bio-fungicide
A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below.
Agrochemical Market by Segment
The study includes a forecast for the global agrochemical market by product type and region as follows:
Agrochemical Market by Product Type [Value ($B) shipment analysis for 2018 – 2030]:
By Product Type [Value ($B) shipment analysis for 2018 – 2030]:
Agrochemical Market by Region [Value ($B) shipment analysis for 2018 – 2030]:
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North America
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US
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Canada
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Mexico
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Europe
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Germany
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The United Kingdom
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France
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Russia
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Asia Pacific
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China
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Japan
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India
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South Korea
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The Rest of the World
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Brazil
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Argentina
List of Agrochemical Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies agrochemical companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the agrochemical companies profiled in this report includes.
Agrochemical Market Insight
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Fertilizer will remain the largest segment and it is expected to witness the highest growth over the forecast period due to its better cleansing and moisturizing properties due to growing demand for nitrogen fertilizers by farmers including synthetic ammonia, nitric acid, ammonium nitrate, and urea.
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Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing population and growing demand for sustainable production of food.
Features of Agrochemical Market
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Market Size Estimates: Agrochemical market size estimation in terms of value ($B) and volume (kilotons)
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Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
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Segmentation Analysis: Market size by product type
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Regional Analysis: Agrochemical market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
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Growth Opportunities: Analysis of growth opportunities in different product type and regions for the agrochemical market.
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Strategic Analysis: This includes M&A, new product development, and competitive landscape for the agrochemical market.
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Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the agrochemical market size?
Answer: The global agrochemical market is expected to reach an estimated $489.1 billion by 2030.
Q2. What is the growth forecast for agrochemical market?
Answer: The agrochemical market is expected to grow at a CAGR of 3.4% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the agrochemical market?
Answer: The major drivers for this market are growing population, limited agricultural land, and increase in awareness in the consumers regarding the benefits of agrochemicals.
Q4. Who are the key agrochemical companies?
Answer: Some of the key agrochemical companies are as follows:
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Bayer
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BASF
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Yara International
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Compass Minerals
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Syngenta
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Agrium Inc.
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DOW Agrosciences (Corteva)
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Monsanto
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The Mosaic
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Sumitomo Chemical
Q5.Which agrochemical product segment will be the largest in future?
Answer: Lucintel forecasts that fertilizer will remain the largest segment and it is expected to witness the highest growth over the forecast period due to growing demand for nitrogen fertilizers by farmers including synthetic ammonia, nitric acid, ammonium nitrate, and urea.
Q6: In agrochemical market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global agrochemical market by product type (pesticide and fertilizer) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
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