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The Global Agrochemicals Additives Market Size is valued at 1.76 billion in 2023 and is predicted to reach 2.52 billion by 2031 at an 4.71% CAGR during the forecast period of 2024-2031.
Key Industry Insights & Findings from the Report:
- The adoption of biotechnology in agriculture, including genetically modified crops, is driving the agrochemical additives market.
- Government initiatives aimed at promoting modern agriculture practices ensuring food security are boosting the demand in the agrochemical additives market.
- Asia Pacific region dominated the market and accounted for a global revenue share in 2023.
- Compliance with stringent regulatory standards poses a significant challenge for the agrochemical additive market.
Pesticides and fertilizers used in agriculture, sometimes known as agrochemicals, are used to manage weeds and insects, ward off disease, and boost plant growth. Agrochemicals aid in managing the microorganisms and agricultural ecosystems in the farming region. Fertilizers, pesticides, herbicides, insecticides, and fungicides are a few examples of agrochemicals. The product's capacity to stop the loss of essential nutrients like phosphorus, sulfur, potassium and nitrogen is anticipated to boost growth over the projection period. Additionally, it is used to prevent caking and corrosion during fertilizer transportation and storage.
The expansion of the agrochemical additives market is anticipated to be constrained during the projected period by consumers' growing aversion to chemical additives and preference for biopesticides.
Recent Developments:
- In May 2024, FMC Corporation, a top player in agricultural sciences, partnered with Optibrium, a leading developer of AI solutions for small molecule discovery. This collaboration aligns with FMC's strategic goal of expediting the discovery and commercialization of its pipeline.
Competitive Landscape:
Some of the major key players in the Agrochemicals Additives market are:
- Aceto Corporation
- AkzoNobel N.V.
- BASF SE
- Bayer AG
- BTC Europe GmbH
- Clariant
- Croda International
- DowDuPont
- DuSolo Fertilizers
- Evonik Nutrition and Care GmbH
- FMC Corporation
- Harcros Chemicals
- Heringer
- Israel Chemicals Limited (ICL)
- Jordan Abyad Fertilizers and Chemicals Company
- K+S KALI GmbH
- LEVACO Chemicals
- Lonza
- Nufarm Ltd.
- Nutrichem Company Limited
- Nutrient Ltd.
- OCI N.V.
- PhosAgro
- A OCP
- Saudi Arabia Fertilizer Company (SAFCO)
- Stepan Company
- Syngenta AG
- The Mosaic Company
- UPL Limited
- WinHarvest Pty Ltd
- Yara International ASA
Market Segmentation:
The agrochemical additives market is segmented into form, crop type, and application. Based on type, the market is divided into fertilizers, pesticides, insecticides, herbicides, and fungicides. Based on form, the market is divided into solid and liquid. Based on crop type, the market is further divided into cereals & grains, oilseeds & pulses, fruits & vegetables, and others (plantation crops and hydroponics). The market is segmented based on application: traditional pesticides, seed treatment, micronutrients and fertilizers, soil health, and others.
Based on type, the fertilizer segment is a significant contributor to the agrochemicals additives market.
The fertilizer segment is anticipated to dominate the market in terms of type throughout the forecast period. Additive sales are anticipated to grow significantly throughout the forecast period due to the significant number of fertilizers produced. The need for food and agricultural products will likely increase due to population expansion, which will fuel the use of fertilizers in the agriculture sector. Government subsidies on some fertilizers are expected to help the fertilizers segment to remain a significant end-use in the market. As a result, it is projected that the need for biopesticides will rise in the years to come.
The crop segment witnessed growth at a rapid rate.
The crop segment dominates the agrochemical additives market over the forecast period. The majority of agrochemicals are used on cereals and grains because crops like rice may have lower yields and less readily available nutrients due to nutrient deficiencies in the soil. Critical minerals are added to fertilizers to boost rice crop output and grain nutrient content, which is anticipated to propel the demand for agrochemical additives. The United Nations, Food and Agriculture Organization predicts that cereal crop production will increase shortly.
The Asia Pacific agrochemicals additives market holds a significant revenue share in the region.
Asia Pacific nations lead the market. This is because agriculture is a standard industry in emerging nations, together with the fact that countries with little amounts of available land must utilize agricultural additives to boost yield per acre. In these nations, the government supports most agrochemical additions through policies and programs for farmers. Agrochemical Additives increase a nation's productivity while assisting customers in becoming self-sufficient. Producing crops sold and exported is strongly promoted because of their higher price-attracting properties. The same producers of these crops also receive more significant incentives, such as cheaper fertilizers, seeds, and loan rates. The agricultural industry accounts for a small portion of North America's gross domestic product, and the continent has historically produced enough food for its population. Therefore, its geographic share is insignificant. However, because they are the centre of invention, these nations quickly adapt to new developments.
Agrochemicals Additives Market Report Scope
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 1.76 billion |
|
Revenue forecast in 2031 |
USD 2.52 billion |
|
Growth rate CAGR |
CAGR of 4.71% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume in Thousand Tons and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Type, Form, Crop Type, Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Aceto Corporation, AkzoNobel N.V., BASF SE, Bayer AG, BTC Europe GmbH, Clariant, Croda International, DowDuPont, DuSolo Fertilizers, Evonik Nutrition and Care GmbH, FMC Corporation , Harcros Chemicals, Heringer, Israel Chemicals Limited (ICL), Jordan Abyad Fertilizers and Chemicals Company, and list of other prominent players |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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