Boston, MA -- (SBWIRE) -- 02/26/2014 -- Agrochemicals Market by Type (Fertilizers, Pesticides), by Fertilizer Type (Nitrogenous, Potassic, Phosphatic), by Pesticide Type (Organophosphates, Pyrethroids, Neonicotinoides, Bio-Pesticides), & Sub-types - Global Market Trends & Forecast to 2018
Pesticides are chemical or biological substances used to protect crops from pests that can destroy or harm them. Pesticides repel, destroy, or reduce pests including insects, pathogens, weeds, and microbes. Over the last 40 years, pesticides have come up as an indispensable tool to increase crop production, globally. Chemically and on the basis of usage, pesticides can be categorized as organochlorines, organophosphates, pyrethroids, fungicides, and insecticides. Though, still in the emerging stage, biological pesticides are more beneficial and nontoxic in nature.
Besides carbon, hydrogen, and oxygen, plants require different types of nutrients for their growth. Most of the nutrients, such as nitrogen, phosphorus, sulfur, and potassium are found in the soil itself. But due to year-by-year farming, soil erosion, and other factors, soil loses its potential to supply the required amount of nutrients to the crops. In order to overcome this, fertilizers are used to fulfill the deficiencies in the soil so that it can supply essential nutrients to the plants. The chemical/inorganic fertilizers are commercially produced in the form of granules or powders, and are mainly classified into three categories: nitrogen fertilizers, phosphorus fertilizers, and potassium fertilizers.
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It has been observed that the focus of the agrochemicals industry is moving towards the development of agrochemicals. This is not just increasing crop productivity and protecting them from pesticides, but also working mutually with the end use applicators (i.e. farmers) to train and educate them about proper application of fertilizers and pesticides. This practice will provide the customers a value for their money and more efficient use of agrochemicals will restrict the entry of any unwanted chemical in the food chain. Hence, working in association with customers and suppliers, the companies must ensure the supply of products that provides solution to the end-user keeping in mind the sustainability of the environment in which the product will be used.
It has been expected that the global agrochemicals market will grow at a CAGR of 3.0%, over the next five years to reach 401,816.9 KT by 2018. Asia-Pacific, with its thriving economies and rapidly expanding population, is expected to experience the highest consumption from 2013 to 2018.
Companies Mentioned in this Report: AGRIUM INC., BASF S.E., BAYER A.G., DOW AGROSCIENCES LLC., E.I. DU PONT DE NEMOURS & COMPANY, ISRAEL CHEMICALS LTD., INDIAN FARMERS FERTILISER COOPERATIVE, K+S AG, MAKHTESHIM AGAN INDUSTRIES LTD., MONSANTO COMPANY, MOSAIC COMPANY, NUFARM LTD., POTASH CORP. SAS. INC., SOCIEDAD QUIMICA Y MINERA DE CHILE SA, SUMITOMO CHEMICAL, SYNGENTA AG., URALKALI, YARA INTERNATIONAL ASA
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