Market News: Agrochemicals Market worth $242.8 Billion by 2018 - Global Market Trends & Forecast to 2018

Agrochemicals Market (Fertilizers, Pesticides)
Defines and segments Agrochemicals market with analysis and forecasting of market demand and revenue. This market would grow from an estimated $203,567.6 million in 2013 to $242,757.8 million by 2018, with a CAGR of 3.6% from 2013 to 2018.

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In-depth Table Of Content on "Agrochemicals Market" 

Global Market Trends & Forecast to 2018

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Agrochemicals Market and Applications

The major function of agrochemicals is to address the problem that hinders the growth of crops. It is a widely used term that includes fertilizers and pesticides. Agrochemicals help to increase the productivity of the crops by supplying needed nutrients and providing protection from various diseases, without harming the environment. Thus, the focus of industry players is not only to develop and launch agrochemicals, but also to train its end-users about the proper use of these chemicals. The tightening environmental regulations in developed regions such as North America and Europe are making it difficult for the manufacturers to sell their conventional products in these regions. Hence, they are bound to develop new products that fulfill environmental norms. It has, thus, become important for them to find a right balance between the product performance and content of their product.

In-Depth Analysis 

According to the estimates, Asia-Pacific leads the market for Agrochemicals with 41.3% share in demand at global level in 2012, followed by Latin America (17.0%), North America (15.4%), Europe (7.8%), and Rest of the World (18.5%). Looking at fertilizers type, Nitrogenous fertilizers occupied 68.4% and Organophosphates occupied 73.0% share in demand in their respective agrochemicals type.

The growth of the Agrochemicals Market has been studied through in-depth analysis of major factors that are driving the market such as growing population and increase in demand for food with opportunities in the development of environment friendly and rising consumer awareness for agrochemicals. However, the increasing environmental concerns and availability of other environment friendly alternatives are proving to be the major restraining factors for the market.

Global Market Forecast

Asia-Pacific dominates the global Agrochemicals Market, accounting for major share in overall consumption in 2012. Latin and North America remained second and third largest markets for agrochemicals. The nutrient demand for corn is highest among crops such as wheat, cotton, sugarcane, etc. Hence, its production in North America (for bio-ethanol production also) is expected to increase the demand of agrochemicals in the region. Tight environment regulations in Europe are making it difficult for the manufacturers to launch products that comply with the existing regulations. The use of agrochemicals in the region is mainly used for food application. As for other use such as bio-polymers and bio-fuel, high construction and un-favorable economic condition is creating complex situation for the manufacturers. In recent years, Asia-Pacific and Latin America has registered a strong demand for agrochemicals and the trend is expected to continue in the near future, majorly due to increasing population, driven by India, China, and Brazil. In the Rest of the World (ROW) region, the demand of pesticides is mainly from Africa. This is because the nutrient profile of the region’s soil is declining in various countries. Farmers with less awareness or resources continue to cultivate the field without restoring the nutrients of the soil. This is causing a decline in region’s productivity of crops.

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