Agricultural chemicals, commonly known as agrochemicals, consist of a range of chemicals developed through chemical processes to enhance crop productivity by restricting pest and weed growth. With growing global population, high yield productivity of agriculture is highly important in order to cater to growing food demand.
Global agrochemicals market majorly constitutes fertilizers and pesticides. Fertilizers can be classified into phosphatic, nitrogenous, potassic and others. Of these, nitrogenous fertilizers hold the largest market share. On the other hand, pesticides are further segmented into herbicides, bio-pesticides, insecticides and others. Organophosphates, a class of insecticides, dominate the overall pesticides market with broad variety of chemical offerings. Factors such as increasing awareness of pesticides & fertilizers, growth of floriculture & horticulture market and reduction in arable land with surge in industrialization & urbanization are key growth drivers of the market. However, strict government regulations and growing environmental impacts are expected to deter overall growth of conventional agricultural chemical market.
Increasing concerns pertaining to impacts of chemical pesticides on health and environment have led to rise in research and development activity in the field of biopesticides. Integrated pest management (IPM) is another area attracting R&D investments. IPM refers to an ecosystem-based strategy focussing on prevention of pests for longer terms through combination of various techniques such as habitat manipulation, biological control and others.
The period from 2009-2014 has witnessed high number of patent expirations of pesticide active ingredients, which has provided opportunities to generic players. In addition, more patent expirations for pesticide active ingredients are due till 2019 timeframe, which will result in market value decline of proprietary pesticides. However, it is expected that key players may opt for supplementary protection certificates (SPC) in order to extend the patent protection by minimum 5 years.
In addition, genetically modified seeds are showing stronger demand among farmers due to improved traits such as resistance of adverse climatic conditions, high yield and longer shelf life.
ASDReport.com has an extensive collection of reports on agricultural chemicals market. The reports cover various topics and products related to agriculture chemicals like, agricultural surfactants, rodenticides, propanil, prochloraz, chlorpyrifos, imidacloprid and much more.