Agrochemicals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The agrochemicals market is on the cusp of significant expansion, with projections indicating it could reach a valuation of approximately $290 billion by the end of 2031. This growth is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 4.9%, spurred primarily by the escalating demand for pesticides and a growing preference for liquid agrochemical forms. The underpinning drivers of this surge are multifaceted, reflecting broader agricultural, economic, and demographic trends globally.

Feeding an Expanding Global Population

The world is witnessing rapid population growth, leading to an uptick in food consumption rates. This demographic trend has precipitated a heightened demand for agricultural products, necessitating an increase in crop production. Agrochemicals, including fertilizers and pesticides, have become indispensable in this context, playing a pivotal role in boosting both the yield and quality of crops. Their use is critical in meeting the burgeoning food demand, thereby facilitating advancements in agricultural practices and technologies. This dynamic underscores the integral role of agrochemicals in contemporary agriculture, where they serve as key enablers of productivity and efficiency.

Pesticides at the Forefront of Market Growth

The pesticides segment within the agrochemicals market is poised for significant growth by the end of the forecast period. This segment is expected to expand considerably, presenting a substantial incremental dollar opportunity. Pesticides are crucial for protecting crops from pests and diseases, thereby enhancing agricultural output and efficiency. The anticipated growth in this segment reflects the increasing reliance on chemical interventions to safeguard crop health and optimize yield.

Navigating the Challenge of Diminishing Farmland

A pressing challenge facing the agricultural sector is the shrinking area of arable land available for cultivation. This trend is driven by urbanization, population growth, and industrial development, which have collectively led to a decrease in the total crop area harvested. The contraction of available farmland necessitates a focus on maximizing yield per unit area, which in turn highlights the importance of fertilizers in maintaining soil fertility and enhancing crop productivity. The fertilizer segment of the agrochemicals market is thus expected to witness steady growth, propelled by the need to improve crop yield and quality amidst decreasing arable land.

Economic Growth and Agricultural Development

Global economic expansion, as indicated by real GDP growth data from the IMF, has implications for agricultural development. Economic prosperity enhances living standards and increases individuals' spending capacity, which often leads to shifts in dietary preferences. This phenomenon has resulted in a rise in food demand that surpasses population growth, driven largely by changing eating habits. As a consequence, there has been a pronounced increase in the demand for fertilizers and pesticides. These agrochemicals are essential for boosting crop yield, ensuring soil fertility, and enhancing production efficiency, thereby playing a critical role in meeting the evolving food requirements.

China and India: Agrochemical Giants

China and India emerge as significant players in the agrochemicals market, with both countries anticipated to experience substantial growth in the production and consumption of these chemicals. The increasing use of fertilizers, including nitrogen-based and potassium-based variants, in these countries underpins this growth. Furthermore, China and India are key exporters of agrochemicals to regions such as Latin America and the Asia Pacific, which reinforces their pivotal role in the global market. The Asia Pacific region, in particular, benefits from well-established production and distribution facilities, creating conducive conditions for market growth. The rising consumption of nitrogen and potassium-based fertilizers in this region is expected to further drive the expansion of the agrochemicals market.

Competitive analysis

Bayer AG
YARA International ASA
BASF SE
Israel Chemicals Ltd.
Nutrien Ltd.
FMC Corporation
The Mosaic Company
Fengro Industries Corp.
PhosAgro
DowDuPont Inc.
OCI N.V.
Fertilizantes Heringer S.A.
WinHarvest Pty Ltd
Syngenta AG
K+S KALI GmbH
Saudi Arabia Fertilizer Company (SAFCO)
Jordan Abyad Fertilizers and Chemicals Company
Others.

Global Agrochemicals Market is Segmented as Below:

By Product Type:

Fertilizers
Nitrogen Based
Potassium Based
Phosphorous based
Others
Pesticides
Insecticides
Fungicides
Herbicides
Bactericides
Others
Others (Soil Conditioners, acidifying agents etc.)

By Crop Type

Cereals
Pulses and Oilseeds
Fruits and Vegetables
Lawns and Turfs
Others

By Form

Paints & Coatings
Pesticides
Chemicals
Gasoline
Printing, Rubber & Leather

By Region:

North America
Latin America
Europe
MEA
Asia Pacific

1. Executive Summary

1.1. Global Agrochemicals Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Agrochemicals Market Outlook, 2018 - 2031

3.1. Global Agrochemicals Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Fertilizer
    - 3.1.1.1.1. Nitrogenous
    - 3.1.1.1.2. Phosphatic
    - 3.1.1.1.3. Potassic
    - 3.1.1.1.4. Others
  - 3.1.1.2. Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers)
    - 3.1.1.2.1. Crop Protection Chemicals
    - 3.1.1.2.2. Herbicides
    - 3.1.1.2.3. Insecticides
    - 3.1.1.2.4. Fungicides
    - 3.1.1.2.5. Others
  - 3.1.1.3. Plant Growth Regulators
  - 3.1.1.4. Others
3.2. Global Agrochemicals Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Cereal & Grains
  - 3.2.1.2. Oilseeds & Pulses
  - 3.2.1.3. Fruits & Vegetables
  - 3.2.1.4. Others
3.3. Global Agrochemicals Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. North America
  - 3.3.1.2. Europe
  - 3.3.1.3. Asia Pacific
  - 3.3.1.4. Latin America
  - 3.3.1.5. Middle East & Africa

4. North America Agrochemicals Market Outlook, 2018 - 2031

4.1. North America Agrochemicals Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Fertilizer
    - 4.1.1.1.1. Nitrogenous
    - 4.1.1.1.2. Phosphatic
    - 4.1.1.1.3. Potassic
    - 4.1.1.1.4. Others
  - 4.1.1.2. Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers)
    - 4.1.1.2.1. Crop Protection Chemicals
    - 4.1.1.2.2. Herbicides
    - 4.1.1.2.3. Insecticides
    - 4.1.1.2.4. Fungicides
    - 4.1.1.2.5. Others
  - 4.1.1.3. Plant Growth Regulators
  - 4.1.1.4. Others
4.2. North America Agrochemicals Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Cereal & Grains
  - 4.2.1.2. Oilseeds & Pulses
  - 4.2.1.3. Fruits & Vegetables
  - 4.2.1.4. Others
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Agrochemicals Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. U.S. Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.2. U.S. Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.3. Canada Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 4.3.1.4. Canada Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Agrochemicals Market Outlook, 2018 - 2031

5.1. Europe Agrochemicals Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Fertilizer
    - 5.1.1.1.1. Nitrogenous
    - 5.1.1.1.2. Phosphatic
    - 5.1.1.1.3. Potassic
    - 5.1.1.1.4. Others
  - 5.1.1.2. Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers)
    - 5.1.1.2.1. Crop Protection Chemicals
    - 5.1.1.2.2. Herbicides
    - 5.1.1.2.3. Insecticides
    - 5.1.1.2.4. Fungicides
    - 5.1.1.2.5. Others
  - 5.1.1.3. Plant Growth Regulators
  - 5.1.1.4. Others
5.2. Europe Agrochemicals Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Cereal & Grains
  - 5.2.1.2. Oilseeds & Pulses
  - 5.2.1.3. Fruits & Vegetables
  - 5.2.1.4. Others
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Agrochemicals Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Germany Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.2. Germany Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.3. U.K. Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.4. U.K. Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.5. France Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.6. France Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.7. Italy Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.8. Italy Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.9. Turkey Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.10. Turkey Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.11. Russia Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.12. Russia Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.13. Rest of Europe Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 5.3.1.14. Rest of Europe Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Agrochemicals Market Outlook, 2018 - 2031

6.1. Asia Pacific Agrochemicals Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.1.1. Key Highlights
- 6.1.2. Key Highlights
  - 6.1.2.1. Fertilizer
    - 6.1.2.1.1. Nitrogenous
    - 6.1.2.1.2. Phosphatic
    - 6.1.2.1.3. Potassic
    - 6.1.2.1.4. Others
  - 6.1.2.2. Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers)
    - 6.1.2.2.1. Crop Protection Chemicals
    - 6.1.2.2.2. Herbicides
    - 6.1.2.2.3. Insecticides
    - 6.1.2.2.4. Fungicides
    - 6.1.2.2.5. Others
  - 6.1.2.3. Plant Growth Regulators
  - 6.1.2.4. Others
6.2. Asia Pacific Agrochemicals Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Cereal & Grains
  - 6.2.1.2. Oilseeds & Pulses
  - 6.2.1.3. Fruits & Vegetables
  - 6.2.1.4. Others
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Agrochemicals Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. China Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.2. China Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.3. Japan Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.4. Japan Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.5. South Korea Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.6. South Korea Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.7. India Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.8. India Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.9. Southeast Asia Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.10. Southeast Asia Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.11. Rest of Asia Pacific Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 6.3.1.12. Rest of Asia Pacific Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Agrochemicals Market Outlook, 2018 - 2031

7.1. Latin America Agrochemicals Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Fertilizer
    - 7.1.1.1.1. Nitrogenous
    - 7.1.1.1.2. Phosphatic
    - 7.1.1.1.3. Potassic
    - 7.1.1.1.4. Others
  - 7.1.1.2. Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers)
    - 7.1.1.2.1. Crop Protection Chemicals
    - 7.1.1.2.2. Herbicides
    - 7.1.1.2.3. Insecticides
    - 7.1.1.2.4. Fungicides
    - 7.1.1.2.5. Others
  - 7.1.1.3. Plant Growth Regulators
  - 7.1.1.4. Others
7.2. Latin America Agrochemicals Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Agrochemicals Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Brazil Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.2. Brazil Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.3. Mexico Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.4. Mexico Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.5. Argentina Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.6. Argentina Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.7. Rest of Latin America Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 7.3.1.8. Rest of Latin America Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Agrochemicals Market Outlook, 2018 - 2031

8.1. Middle East & Africa Agrochemicals Market Outlook, by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Fertilizer
    - 8.1.1.1.1. Nitrogenous
    - 8.1.1.1.2. Phosphatic
    - 8.1.1.1.3. Potassic
    - 8.1.1.1.4. Others
  - 8.1.1.2. Secondary Fertilizers (Calcium, Magnesium, and Sulfur Fertilizers)
    - 8.1.1.2.1. Crop Protection Chemicals
    - 8.1.1.2.2. Herbicides
    - 8.1.1.2.3. Insecticides
    - 8.1.1.2.4. Fungicides
    - 8.1.1.2.5. Others
  - 8.1.1.3. Plant Growth Regulators
  - 8.1.1.4. Others
8.2. Middle East & Africa Agrochemicals Market Outlook, by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Cereal & Grains
  - 8.2.1.2. Oilseeds & Pulses
  - 8.2.1.3. Fruits & Vegetables
  - 8.2.1.4. Others
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Agrochemicals Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. GCC Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.2. GCC Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.3. South Africa Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.4. South Africa Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.5. Egypt Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.6. Egypt Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.7. Nigeria Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.8. Nigeria Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.9. Rest of Middle East & Africa Agrochemicals Market by Type, Value (US$ Bn) and Volume (Tons), 2018 - 2031
  - 8.3.1.10. Rest of Middle East & Africa Agrochemicals Market by Application, Value (US$ Bn) and Volume (Tons), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Manufacturer vs by Application Heatmap
9.2. Company Market Share Analysis, 2023
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Clariant AG
  - 9.4.1.1.Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Development
- 9.4.2. BASF SE
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Product Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Development
- 9.4.3. Huntsman International LLC
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Product Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Development
- 9.4.4. Bayer AG
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Product Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Development
- 9.4.5. The DOW Chemical Company
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Product Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Development
- 9.4.6. Solvay
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Product Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Development
- 9.4.7. Nufarm
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Product Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Development
- 9.4.8. Croda International Plc
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Product Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Development
- 9.4.9. Evonik Industries AG
  - 9.4.9.1. Company Overview
  - 9.4.9.2. Product Portfolio
  - 9.4.9.3. Financial Overview
  - 9.4.9.4. Business Strategies and Development
- 9.4.10. Helena Agri-Enterprises, LLC
  - 9.4.10.1. Company Overview
  - 9.4.10.2. Product Portfolio
  - 9.4.10.3. Financial Overview
  - 9.4.10.4. Business Strategies and Development

10. Appendix

10.1.Research Methodology
10.2.Report Assumptions
10.3.Acronyms and Abbreviations