The global agrochemical intermediates market was valued at USD 3.79 billion in 2023 and is anticipated to reach USD 3.98 billion in 2024 and is anticipated to reach USD 5.93 billion by 2032, growing at a CAGR of 5.1% from 2024 to 2032.
Agrochemical Intermediates are widely used to manufacture pesticides such as insecticides, herbicides, and fungicides. Common examples of agrochemical intermediates are 2-Chloro-5-Chloro Methyl Pyridine, Diethyl Phosphorochloridothionate, 2-Chloropropionic Acid, 4-Fluorotoluene and 2-Chloro-6-(Trichloromethyl) Pyridine. The agrochemical intermediates act as the building blocks for the production of final products. The global agrochemical intermediates market is accounted with considerable growth from the past years and is anticipated to record substantial growth during the forecast period. These enhance the crop yield and protect the crop from insects and pests, which is driving the market growth rate. With a growing world population, emerging environmental concerns, and unforgiving climate changes the agricultural industry is being challenged to develop innovative and targeted solutions to help ensure the success of crops, livestock, and the land itself. To meet these demands several additives derived from agricultural intermediates are thrown into the fray.
The growth of the agrochemical intermediates market is mainly driven by the increasing global population. As the population continues to boom, it puts more pressure on the farmers to produce more per hectare. This promotes the use of chemical substances for boosting productivity and also minimizing crop loss to the elements and pests. The favorable government policies and technological advancements are further boosters for market growth. The escalating demand for the food owing to increasing global population is making the farmers and agricultural producers to adopt agrochemical intermediates for enhancing the crop productivity which drives the market growth.
The developing nations and rising disposable incomes of the people, growing awareness among the agricultural producers regarding the necessity of agrochemicals is propelling the market growth rate. The rising investments by the significant market players in research activities to enhance the efficacy of the products, along with safety to human health and environment is estimated to augment the market growth opportunities in the coming years. Various benefits of the agrochemicals such as maximizing the crop production, provide essential nutrients and protect the crop from pests and insects which is leading to food security, these factors are gaining traction among the people leading to substantial market growth. The agrochemicals helps the farmers to produce high productivity with less land area by providing the essential supplements to the plants along with protection proliferates the market growth rate. The growing export and import of the agrochemicals from the developing nations is estimated to contribute to the global market revenue growth.
The high cost associated with the agrochemical intermediates is the significant factor restraining the market growth. The rising environmental concerns regarding the air and water pollution and the cases of soil degradation which effects the human health, hampers the market growth rate. Agrochemicals impact negatively on the ecosystem as they reduce biodiversity and harm aquatic life, which is raising concerns among the people, leading to limited market growth. Another factor restraining the market growth is the chance of nutrient imbalance, where the excessive use of agrochemicals can generate residues, causing nutrient imbalance and leading to a reduction in quality of agricultural productivity. The agrochemicals may harm the non-target organisms which may impact negatively on the crop productivity and quality which impedes the market expansion. The high costs of research and development of new moieties, especially in developing nations, along with high specifications, may restrict the market growth.
The increasing adoption of modern farming technologies is the significant factor providing growth opportunities to the agrochemical intermediates market growth. The agrochemical intermediates such as insecticides, fungicides, and herbicides play a crucial role in enhancing the crop productivity along with securing the crops from pests. The rising technical advancements will increase the agricultural operations, efficiency, and safety of the crops which influences positively on the global market expansion. The escalation in the precision agriculture, and the utilisation of modern machinery in the agriculture is accelerating growth opportunities. The agrochemical intermediates help by supplying the necessary basic materials for advanced agrochemicals which proliferate the crop productivity leading to substantial market growth.
The stringent regulations regarding the product approvals and the complexity with regulatory authorities along with higher standards for safety and efficacy will act as significant challenge to the market players in expanding the market growth. The availability of various other alternatives for pest control and to enhance the crop productivity may hinder the adoption of agrochemical intermediates leading to limited market growth. Due to the presence of high chemical content, the utilisation of agrochemical intermediates may lead to food safety issues for humans which acts as challenge to market growth.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2032 |
Base Year |
2023 |
Forecast Period |
2024 to 2032 |
CAGR |
5.1% |
Segments Covered |
By Product, Type, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
RohnerChem, Eastman, Arkema, AGC, Lonza, Sugai Chemical, Kuraray, BASF, Evonik, Air Water, Astec, WeylChem Group, DPx Fine Chemicals, Mitsubishi Corporation, and Sudarshan Chemical and Others. |
The aldehyde segment dominated the global agrochemical intermediates market revenue and is expected to maintain the domination during the forecast period. The aldehydes act as necessary starting material for production of various types of pesticides, herbicides and fungicides which drives the segment growth rate. The aldehydes enhance the agricultural output owing to the increased food security and increased global population which propels the segment revenue.
The amines segment is estimated to grow notably in the coming years with rapid growth rate. The amines act as the fundamental building blocks in production of herbicides, fungicides and pesticides which augments the segment growth. The chemical adaptability and reactions of amines helps in creation of diverse agrochemicals leading to innovations is providing market growth opportunities.
The herbicides segment held the most significant share in the global agrochemicals intermediates market revenue and is predicted to record substantial growth in the coming years. Herbicides are a significant product that helps control weed populations, leading to higher crop yields and assured quality, which drives the segment growth rate. The increasing adoption of efficient agricultural practices among the farmers to meet the food demand for global population and the escalating technological advancements are propelling the segment growth.
The insecticides segment is projected to register a rapid growth rate during the forecast period. Insecticides are widely adopted in agricultural practices to eliminate the insects and pests that impact negatively on crop yield. This is augmenting the global market growth.
The Asia Pacific region accounted for the most significant share in the agrochemical intermediates market and is projected to have notable growth during the forecast period. The increased regional population, growing agricultural practices, and expanding adoption of advancements in the agricultural industry across India and China are contributing to the regional market share growth. The growing demand for the food is enhancing the requirement of higher crop yields which fuels the expansion of the regional market revenue.
The North American region is anticipated to have notable growth with considerable CAGR during the forecast period. The presence of a well-established agricultural industry the rising utilization of agrochemical intermediates for better crop yield, and the growing technological advancements are propelling the regional market share growth. The supportive regulatory framework, along with growing government initiatives, is expected to enhance the market growth opportunities in the coming years.
The European region is expected to register considerable growth during the forecast period owing to its expanding agricultural production and advanced farming technologies. The growing initiatives by the regional authorities in extension of agricultural production which drives the regional market growth.
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