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Syngenta, Bayer Crop Science, and Yara International are the leading players in Agrochemicals market
The global agrochemicals market is matured and diversified with most companies offering different types of agrochemicals (i.e. fertilizers and pesticides), which offer a wide range of applicability to suit different conditions (i.e. soil and pests). Among fertilizers Nitrogenous and that in Pesticides Organophosphates are estimated to have major share in their respective market. The companies engaged in the production of these agrochemicals are Syngenta, BASF, Monsanto), Bayer AG, Sumitomo Chemical, Yara International, Agrium, Dow AgroSciences, and ICL. On the basis of existing crop nutrient profile, the amount of fertilizer to be used is calculated. Similarly, there are recommended dosage of pesticides for their usage.
The major global companies operating in fertilizers are Yara International, Agrium, Potash Corp. and K+S. For pesticides, major companies are Syngenta, Bayer Crop Science, BASF and Monsanto. The companies are consistently focusing on expanding their capacity and launch of new and improved agrochemicals which are more effective in their functioning that may help the manufacturers to meet the environmental regulations. New product launch is the second most adopted strategy followed by the companies. Under this strategy, the companies are introducing new fertilizers and pesticides not only for agrochemical application, but also to increasing their geographic presence in the Agrochemicals market. For instance, in January 2014, BASF India announced its intentions to launch seven new products for Indian agriculture industry in order to increase its grip in the country’s market.
In Pesticides, Syngenta and Bayer Crop Science while in Fertilizers Yara International and Agrium Inc. are the top two companies in their respective market segment. Other players holding significant share are BASF, Monsanto, Dow AgroSciences, and Potash Corp., K+S, ICL in pesticides and fertilizer market respectively. The threat of the new entrants is however, not a serious issue for this market. The tightening environmental regulations and required R&D work in the market refrains the entry of new players in this market. On the other hand, development of environment friendly products and government’s support for such agrochemical products are creating opportunities for new players, to enter into the market.
Agrochemicals Market by Type (Fertilizers, Pesticides), by Fertilizer Type (Nitrogenous, Potassic, Phosphatic), by Pesticide Type (Organophosphates, Pyrethroids, Neonicotinoides, Bio-Pesticides), & Sub-types - Global Market Trends & Forecast to 2018
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