The global agrochemical additives market is anticipated to reach a valuation of US$ 2.7 Bn by 2032, with sales growing at a 4.6% CAGR over the assessment period. The need for various agrochemicals including fertilizers and pesticides is rising owing to increase in population, which trigger demand for crops and vegetables production.
While the demand for food products is rising all across the globe, cultivation area is decreasing as a result of the urbanization, industrialization, and development in the infrastructure. The market of agrochemical additives has been substantially influenced by certain socio-demographic factors, economic development, urbanization, and high demand for genetically modified crop.
Furthermore, focus on seed treatment, rationalization of rates, post-harvest agrochemical regulations, innovation funds for aggrotech, and import substitutions are expected to fuel the agrochemical additive market.
“Growing demand for functional foods and high-nutrient food products is driving sales of agrochemical additives. In addition to this, significant government-backed investments, and subsidies for crop production across emerging economies will augment the growth in the market,” says an FMI analyst.
Competitive Landscape
Leading players operating in the global agrochemical additives market include Syngenta, Bayer, BASF, UPL, Compass Minerals, Adama Ltd., Sumitomo Chemicals., Nufarm Limited., K+S Group., and the United States’ Israel Chemical Company (Israel).
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Agrochemical Additive Market Segmentation
By End Use:
- Fertilizers
- Pesticides
- Plant Growth Regulators
- Soil Conditioners
- Liming and Acidifying agents
By Application:
- Crop Protection
- Seed Treatment
- Soil Health
- Solvents
- Dispersants
- Preservatives
- Others
By Crop Type:
- Cereals Grains
- Oilseeds Pulses
- Fruits Vegetables
- Plantation Crops and Hydroponics
What are the Key Opportunities for Agrochemical Additives Manufacturers?
Pesticides are compounds produced through chemical or biochemical processes that include active components in a certain concentration and are intended to protect crops against weeds, diseases, and insects, as well as to reduce crop losses. Chelating agents, building blocks, pH regulators, and salification agents are all used as agrochemical additives.
To avoid pests, weeds, and illnesses, agrochemicals are diluted in specified dosages and applied to seeds, soil, irrigation water, and crops. Over the last few decades, high-purity compounds are sold in bulk to formulators, who derive formulations by adding inert carriers, solvents, surface-active agents, and deodorants. Increasing need for food production and population growth are creating opportunities for growth for manufacturers in the market.
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