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Friendly Growth of Agrochemicals without Harming the Surrounding Environment
Global Agrochemicals market is growing at a stable and average growth rate due to its direct correlation with the population growth and arable land. There is a growing need for agrochemicals which can support or increase per hectare production without harming the surrounding environment. Therefore, all major companies have created advanced application technology centers for research and development worldwide.
The rising attention towards the protection of human health and environmental risks has promoted various government regulations, which has further resulted in increased consumption of environment friendly products. Here, the term environment friendly may point to different directions in case of fertilizers and pesticides. For fertilizers, the term means that the product doesn’t shows leaching effect. For pesticides, the term may refer to protection of friendly insects and pests from pesticidic action. Although, these are only a few examples for both types, there may be some common area where a common environment friendly action may be required. Thus, in order to achieve these goals, innovations are being undertaken to meet the synchronization of consumer needs as per their requirements.
Asia-Pacific market is the largest market for Agrochemicals and its use in agricultural application. This region has emerged to be the driving factor for this market, contributing to more than 40% of the global demand in 2012. Latin America is expected to be the forerunner in terms of CAGR in demand for agrochemicals. The company such as Sumitomo Chemical Brazil Dow Corning opened a branch office in Argentina to undertake its activity of development, registration, and distribution of crop protection in the country.
Through their organic growth strategies of capacity expansion and new product launch, the companies are opting to expand their agrochemicals business worldwide. The major companies operating in this market such as Syngenta (Switzerland), BASF (Germany), Monsanto (U.S.), Bayer AG (Germany), Sumitomo Chemical (Japan), Yara International (Norway), Agrium (Canada), Dow AgroSciences (U.S.), ICL (Israel), etc. are engaged in bringing innovations in their products as well as increasing market penetration in the global agrochemicals 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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