New report on global Agrochemical market is segmented on the basis of product type and geography. In terms of product type the market is segmented into fertilizers and pesticides. Major types of fertilizers included are Potassic, Phosphatic and Nitrogenous. Nitrogenous fertilizers hold the largest share in the fertilizers market. Additionally, the chief pesticides included are Pyrethroids, bio-pesticides, organophosphates and Neonicotinoides. Organophosphates dominate the pesticides market due to the presence of a broad spectrum of chemicals in this class such as chlorpyrifos, glyphosate and diazinon. In terms of geography, the market is segmented into various regions, namely North America, Europe, Asia Pacific and LAMEA. The Asia-Pacific region holds the largest market share due to the substantial and growing demand for food and crops. The Asia-Pacific region is expected to retain its position in the future owing to the growing demand for food and crops from widely populated countries such as India and China.
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Agrochemicals, also known as agricultural chemicals, are specifically engineered and developed through a biochemical or chemical process to enhance the productivity of crops. This is achieved through increasing the fertility of the soil and protecting the soil and crops from pests. Agrochemicals such as fertilizers, pesticides, insecticides, herbicides and biopesticides are essential for crop protection. They are also used to increase agricultural production to meet the endless food grain demands of the growing population. Factors driving the agrochemical market include the rising demand for food from the growing population and soil degradation.
However, growing environmental concerns regarding the use of agrochemicals and the presence of eco-friendly alternatives are key restraints for the market. Nevertheless, promising opportunities for this market abound in the form of developing novel and safe agrochemicals, the rising demand for biofuels and growing consumer awareness. The key companies profiled in this report are Agrium Inc, Bayer A.G., BASF S.E., Dow Agrosciences Llc, Israel Chemicals Ltd., Indian Farmers Fertilizer Cooperative, Du Pont De Nemours & Company, Monsanto Company, K+S AG, Makhteshim Agan Industries Ltd., Potash Corp. SAS. Inc and Mosaic Company
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