Agrochemicals also known as agricultural chemicals or the agrichemicals are the different chemical products which are extensively used mostly for agricultural purposes. These are an extensive range of pesticide chemicals that includes insecticides, fungicides, nematicides or the herbicides which helps in maintaining the overall health of the agricultural crops from the pests and insects. Agrochemical even includes different forms of synthetic fertilizers, chemical agents and hormones and even concentrated form of raw animal manure which are used to maintain the overall health of the crops and greens.
An Agrochemical is mostly insoluble in water and requires using of the surfactant or the solvents for spraying them and enhances the application, bio-efficacy as well as the performance. Since the population is widely expanding and the availability of land is decreasing, using of these agrochemicals helps in reducing the risk of attacking the crops from pests and insects. Additionally, it helps in overcoming the different threats and challenges which the agriculture industry can face. Saving massive amount of agricultural crop is quite tough especially from various external factors and using of the insecticides and pesticides helps in maintaining the condition.
Use of Agrochemical in the agricultural sector has a lot of significant benefits starting from increase in the overall production, increasing the amount of soil fertility as well as protecting the crops from the various external factors. Cultivated crops mostly gets challenged with various biotic stresses such as insects, pest infestation or weeds and various abiotic stresses such as less soil fertility. These can be easily managed by using different types of pesticides and insecticides. Using these over time helps in increasing the amount of soil fertility and does better management of the insects and various pests. Due to the ever increasing population, it has become compulsory for the agricultural sector to use agrochemicals.
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The global Agrochemical market was valued at 223700 million US$ in 2018 and will reach 308400 million US$ by the end of 2025, growing at a CAGR of 4.1% during 2019-2025.
Market Key Player
Bayer Crop Science, BASF, Agrium, CF Industries Holdings, Potash Corporation of Saskatchewan, Yara International, Monsanto Company, E.I. Du Pont De Nemours & Company, Dow AgroSciences LLC, Syngenta AG.
Agrochemical industry involves using of the wide range of fertilizers, PGR or the plant growth regulators, pesticides as well as hormones which helps in overall health and growth of the plants. Agricultural sectors due to the fast industrialization as well as fast growth of population has forced the use of pesticides and insecticides as it help in increasing the production rate of the crops. Also, due to the increasing demand for the animal fodder as well as fiber in the textile industry has lead to the increase in the demand of agrochemical. The agrochemical industry was dominated by the fertilizers till the year 2017. During that time, phosphate fertilizers and nitrogenous were extensively used since they were easily available and were affordable too. After the introduction of organic farming, the chemical based fertilizers were replaced with bio-fertilizers.
It has been found that the agrochemical has been in huge demand in the regions of North America, Europe, Japan, China, India and Southeast Asia. But the major demand has been noticed in the region of Asia Pacific region since it has some agro based countries like Sri Lanka, China and India that are primarily dependent on agriculture and various other aro related industries of overall economic growth.
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