Agrochemicals Market share, applications, segmentations & Forecast by 2024

1. Agrochemicals Market Analysis, Applications, and Segment Forecasts from 2017 to 2024: Global Market Insights, Inc. Fuel Cell Market size worth $25.5bn by 2024

2. Regional Analysis of Agrochemicals Market : • Asia Pacific, led by China, Japan and India is anticipated to show significant growth owning to high demand for the product. With the growing population, there is a need for increased food production which will boost the product market growth. • North America holds the largest share for agrochemicals market due to the most industrialization and commercialization region globally. In the U.S., all pesticides sold or distributed should be registered by EPA under the Federal insecticide, Fungicide and Rodenticide Act (FIFRA) to protect human health and environment. Training of workers is required in pesticide treated areas and certification for using pesticide. • Europe agrochemicals market will register sluggish growth due to strict government regulations. European countries do not allow use of phosphate based fertilizers owing to its adverse effects on environment which will product market growth in the region.

3. Application Analysis of Agrochemicals Market: • Increasing research and development in field of bio pesticides and evolving integrated pest management in developing countries worldwide is expected to boost the global agrochemicals market. With the rising scarcity of land and water, there is a need for adoption of innovative technology that can help improve crop yield. Therefore, the product is witnessing significant demand as farmers are striving to achieve nutritive and high quality crop production. Further, growing cultivation of sugarcane and oilseeds owning to their usage in food, fodder, fuel, and other industries is projected to boost agrochemicals market size. • Agrochemicals exists in three forms named, liquid, powder and granular. The product can be categorized into pesticides and fertilizers. Fertilizers are divided into bio and synthetic fertilizers. Synthetic fertilizers are further categorized into nitrogenous, potassic and phosphatic fertilizers. Based on pesticides, they are divided into insecticides, herbicides and fungicides, which include bio based and synthetic. Nitrogenous fertilizers are projected as the fastest growing segment as they balance the nitrogen content in soil.

4. Competitive Market Share of Agrochemicals Market: • The agrochemicals market is consolidated with presence of many manufacturing companies worldwide. Some of the key players for agrochemicals market include, BASF SE, Yara International, Dow Agro Sciences, Gharda Chemicals, Haifa Group, ZuariAgro Chemicals, Crop Science, Bayer, Syngenta, Monsanto and Dupont. • Companies operating in agrochemicals market have adopted different business strategies to capture this market which includes agreements, product launches, expansions, collaborations and partnerships. In November 2016, BASF SE opened a new production plant of worth USD 22 Million in Spain. The new facility will help the company to increase fungicide production by 25% with 60 different formulations manufactured in same plant and exported to different countries.

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