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What key factors are powering the surge in the agrochemicals market right now?

The size of the agrochemicals market has significantly expanded in the past few years. There will be growth from a substantial $287.85 billion in 2024 to an even greater $311.48 billion in 2025, representing a compound annual growth rate (CAGR) of 8.2%. This increase during the historic period is a result of factors such as population growth, pest and disease incidences, variations in farming practices, and the regulatory environment.

How fast Is the agrochemicals market expected to grow, and what’s its future value?

The size of the agrochemicals market is projected to witness significant expansion in the coming years, reaching $439.77 billion by 2029 with a compound annual growth rate (CAGR) of 9.0%. The projected growth during the forecast period can be credited to factors such as climate change, sustainable and precision agriculture, emerging markets, and resistance management. Key trends during this period are expected to encompass technological advancements, the utilization of digitalization and data analytics, innovations in crop protection, market consolidation, as well as organic and non-gmo movements, including biotechnology and genetic engineering.

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What are the leading drivers of growth in the agrochemicals market?

The agrochemicals market’s expansion is believed to be fueled by the rising population and the ensuing increase in food demand. Food, which comprises proteins, carbohydrates, fats, and other nutrients, is supposed to fuel the organism’s growth, vital processes, and energy provision. The constant population surge correlates directly with the demand for food and the agrochemicals market’s expansion. United Nations, a US-based intergovernmental organization, reported in November 2022 that the global population is anticipated to increase by nearly 2 billion people over the forthcoming 30 years, elevating from the current 8 billion to 9.7 billion by 2050. Moreover, Intechnopen, a UK-based publisher of journals and books, anticipates that the global food demand will surge by 70% by 2050. Consequently, the escalating population and associated rise in food demand are set to stimulate the home infusion therapy market’s growth.

What are the key segments defining the agrochemicals market?

The agrochemicals market covered in this report is segmented –

1) By Fertilizer Type: Nitrogen Fertilizer, Phosphatic Fertilizer, Potassic Fertilizer, Other Fertilizer Types

2) By Pesticide Type: Fungicides, Herbicides, Insecticides, Other Pesticide Types

3) By Application: Crop Based, Non-Crop Based

Subsegments:

1) By Nitrogen Fertilizer: Urea, Ammonium Nitrate, Calcium Ammonium Nitrate, Ammonium Sulfate, Other Nitrogen Sources

2) By Phosphatic Fertilizer: Diammonium Phosphate (DAP), Monoammonium Phosphate (MAP), Superphosphate (Single And Triple), Rock Phosphate

3) By Potassic Fertilizer: Muriate Of Potash (KCl), Sulfate Of Potash (K2SO4), Potassium Nitrate

4) By Other Fertilizer Types: Micronutrient Fertilizers, Organic Fertilizers, Slow-Release Fertilizers, Specialty Fertilizers

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Who are the key players steering the development of the agrochemicals market?

Major companies operating in the agrochemicals market include Adama Agricultural Solutions Ltd., Agrium Inc., BASF SE, Bayer AG, Yara International ASA, The Mosaic Company, Israel Chemicals Ltd., FMC Corporation, E. I. du Pont Nemours and Company, Monsanto Company, Dow AgroSciences LLC, Land O’ Lakes Inc, Sumitomo Chemical Co Ltd, Zuari Agro Chemicals Ltd, Gharda Chemicals Limited, Nutrien Ag Solutions Limited, UPL Limited, Nufarm Limited, Corteva Agriscience Inc., Dhanuka Agritech Limited, Gowan Company LLC, Nissan Chemical Corporation, Isagro S. p. A., Rallis India Limited, Crystal Crop Protection Pvt. Ltd., Sinochem Group, Wynca Chemical Group Co. Ltd., Kumiai Chemical Industry Co. Ltd., PI Industries Limited, Indofil Industries Limited, Sipcam Oxon S. p. A., Hubei Sanonda Co. Ltd., Excel Crop Care Limited, Insecticides Limited, Redox Industries Limited, Jiangsu Agrochem Laboratory Co. Ltd., Sulphur Mills Limited

What emerging trends are influencing the growth of the agrochemicals market?

The establishment of strategic collaborations and partnerships is a prominent trend escalating in the agrochemical industry. Major firms engaged in the agrochemical realm are resorting to partnerships to fortify their market foothold. For instance, Aarti Industries Limited, a firm specializing in chemicals based out of India, alongside UPL Limited, an Indian agrochemical company, publicized their strategic collaboration in May 2024. The collaboration emphasizes on the production and promotion of specialty chemical intermediates, chiefly downstream derivatives of amines, primarily used in agrochemicals and the paint industry. The aim of this joint initiative is to amalgamate the competence of the two companies, boost India’s capabilities in chemical production, and support the country’s objective to attain self-sufficiency in specialty chemicals tailored for global markets.

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Which regions are most influential in expanding the agrochemicals market?

North America was the largest region in the agrochemicals market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the agrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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