Agrochemicals, also known as agrichemicals are the special chemical products which are particularly used in the agriculture, floriculture and horticulture. In most of the cases, the agrochemicals mostly include a wide range of pesticides such as herbicides, insecticides, nematicides and fungicides. Agrochemicals also includes the synthetic fertilizers, chemical growth agents and hormones and among others. Agrochemicals are mainly used to increase the agriculture production and help to meet the demand for food grains of the continuously growing population. Rising population has resulted in the rising demand for agrochemicals. Most of the agrochemicals are toxic and bulk storage of agrochemicals
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Global Agrochemicals Market Application:
Agrochemicals are a wide range of pesticides, insecticides, herbicides fungicides and nematicides. Fertilizers are compounds or chemicals which are mostly used by farmers for agriculture to enhance the quality of the soil so as to boost production of food grains. On the other hand Herbicides are used to exterminate plants such as weed in the crop fields. Insecticides are chemicals which are sprayed on the plants in order to prevent pests from destroying the crops. Similarly to herbicides, Fungicide is a chemical which is widely used in order to kill fungus.
Agrochemicals as the name suggests has widespread use in the agriculture industry. Most of the applications of the agrochemicals revolve around agriculture
Agrochemicals Market Driver:
Agrochemical market is supported by strong growth drivers, the world population is growing at faster rate which leads to more consumptions of food this leads to more demand of agriculture industry and more the demand in the agriculture industry, more use of agriculture chemicals in the development of agriculture sector, in developing countries. Furthermore, there is low operation and labor cost hence it is easy for big players in the Agriculture business to setup their business in developing countries.
Global Agrochemicals Market segmentation by type:
1. Nitrogenous Fertilizers
2. Phosphatic Fertilizers
3. Potassic Fertilizers
Global Agrochemicals Market segmentation by crop type:
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
Global Agrochemicals Market segmentation by application:
- Oil & Gas
With farmer managing almost half of the land in Europe a major chunk of the GDP is contributed by the farmers. The demand for food in Europe is increasing every year thus forcing Eu Common Agriculture Policy allocates half of its budget to the agricultural sector. This proves that Europe has huge potential to be one of the leading markets for agrochemicals. Europe contains markets like Spain, Germany, Italy, France, UK among others which are potentially the biggest markets in the EU. With the government spending almost half of its budget on the agricultural sector the agrochemical market in Europe is expected to boom due to increasing demand for food grains.
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Agriculture is one of the biggest industries in North America specifically in USA who is a net exporter of agricultural products. USA alone accounts for 2.2 million farms which covers an estimated area of 922 million acres. Canada is also another nation which was vast expands agricultural land. Technological development in the agricultural sector combined with high quality agricultural consumables is surely going to boost the demand and market for agrochemical industries. Heavy investment in development of new techniques and tools for agriculture is another factor which can lead to increase in demand of agrochemical products.
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