Agrochemical Intermediates are chemical products that find their use in the field of Agriculture. Most agrochemical Intermediates include insecticides, pesticides, fertilizers, hormones, and so on.
Agriculture has come a long way with the amalgamation of chemical processes into it. This has shaped the Market for agriculture, chemicals, and agrochemical intermediates in an all-new dimension.
Let us look through the trends of the agrochemical market as of 2016-2021.
In the year 2016, the Agrochemical Intermediates market stood at a consistently high global market value. The main factors that have attributed towards the massive market value of this industry are its close intimacy with agriculture and the quick results that its products provide.
The Agrochemical Intermediates market has been segregated according to the product, type, and region. On the basis of the types of agrochemical, the market is classified into pesticides, fertilizing manures, insecticides, fungicides, herbicide. Pesticides and Fertilizing manures have consistently been greater market contributors than the others. The popularity of these agrochemical intermediates is seen not only in the Industrial scale but also on the domestic scale. Other intermediates are comparatively used to a smaller domestically.
According to the product, agrochemical intermediates are grouped as Amines, Acids, Aldehydes, Alkyl Amines. Acids have traditionally been dominant products in the agrochemical industry. Therefore, up till the previous forecast year Acids have been major contributing factors to the market. However, with the caution of environmental protection being prominent, industries have started resorting to chemicals that could be relatively milder than acids. In such a case, aldehydes may witness a steep market demand in the next years.
The market analysis for the agrochemical intermediates industry is done under Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Although Latin America and the Asia Pacific are a dominant ground for agricultural endeavors, North America has taken the position of a market leader as of 2016. Their total market share includes 36% of the global agrochemical intermediates market. In the next few years, However, Asia Pacific may offer a tough global competition as it’s high CAGR indicates. Latin America to is set for a steep growth in the agrochemical field.
The Agrochemical Intermediates Market trees dominated by some giant companies. The competition is fierce, and the growth is quick. Companies like RohnerChem, Lonza, Eastman, Air Water, AGC, DPx Fine Chemicals have remained on top of the ladder as market leaders.
With innovative methods and environmental consciousness, several Asian companies like Sugai Chemical, Sudarshan Chemical, and Mitsubishi Corporation have been dominating the Asia Pacific market. With the high CAGR for the region, they may even become global leaders in the agrochemical intermediates market.
Agriculture is an ever flourishing market, and everything associated with it will continue to grow. An increasing global population is a significant factor contributing towards the market growth of this industry. With a bigger population, more food will be required. For faster and efficient production of food grains or other agricultural entities, industries will keep depending on agrochemical catalysts.
The global CAGR for the agrochemical intermediate market is moderately high for the upcoming forecast season. Therefore, the market value is predicted to level up significantly in its market value by the year 2021. As with all other industries, the growth of the agrochemical market too will directly depend on the need for innovation and sustainability in the future years.
Environmental issues have grappled humanity, and the use of agrochemicals for agriculture has been questioned several times. Research and development towards making this industry environment more sustainable while keeping production intact us going to greatly boost the agrochemical intermediates market in the forthcoming decade.
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