In a recent published report, Kenneth Research has updated the market report for Agrochemical Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Agrochemical Market products.
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A report on Agrochemical Market has recently been added into the repository of market research reports of Kenneth Research. The report, which is calculated for the forecast period 2021 2025, provides an in-depth analysis on the opportunities, latest trends, challenges and the growth drivers that are associated with the growth of the market. The market is thriving on account of the growing need for chemicals that are less toxic, backed by the stringent government regulations to regulate chemical pollution. It is estimated that more than 3 million tons of toxic chemicals have been released by industries till date in the year 2021.
On the other hand, it is estimated that every second, around 300kgs of toxic chemicals are released into water, land and air by the industrial facilities. Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
The Agrochemical Market was valued at USD 64,038.00 Million in the year 2018. The Agrochemical market is basically driven by increase in population at the growing rate. The population has been increasing at an alarming rate but with the increase in the population the land available for agriculture is declining. With the help of the Agrochemicals products such as Herbicides, Fungicides and Insecticides farmers would be able to grow more crops on less land, which makes the crops cost less and the crops would be available to the end consumers at less price.
And the farmers also get benefited because the agriculture land would continue to decline in future and population would continue to increase in the future, so with the help of pesticides the farmers would be growing more crops on less land. Also the support provided by the government for the use of pesticides to the farmers, help them to grow more crops on a less land.
On the basis of chemical Type, crop protection chemicals lead the Agrochemical market because crop protection chemicals help the farmers to produce more crops per unit area with less tillage, thus reducing deforestation, conserving natural resources and curbing soil erosion. Pesticides are also critical for the control of invasive species and noxious weeds.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Among the regions, Asia Pacific leads the Agrochemical market. In Asia Pacific the demand for Agrochemical market is expected to be high because the region is known for its agro-based countries such as India, Sri Lanka, and China which are majorly dependent on agriculture and related industries for economic growth.
Scope of the Report
Global Agrochemical Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Agrochemical Market – Size, Growth, Forecast
• By Chemicals Type (Crop Protection Chemicals and Non Crop Protection Chemicals)
• By Product Type (Herbicides, Fungicides, Insecticides, Bio and Other Agrochemical and Non Crop Protection Chemicals)
• By Crop Type (Cereals, Corn, Fruits and Vegetables, Soybean, Sugarcane, Cotton and Others)
Regional Agrochemical Market – Europe, North America, Asia Pacific and Rest of the World (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Agrochemical Market – Size, Growth, Forecast
• By Chemicals Type (Crop Protection Chemicals and Non Crop Protection Chemicals)
• By Product Type (Herbicides, Fungicides, Insecticides, Bio and Other Agrochemical and Non Crop Protection Chemicals)
• By Crop Type (Cereals, Corn, Fruits and Vegetables, Soybean, Sugarcane, Cotton and Others)
Country Analysis – United States, Canada, France, Italy, Spain, Germany, Rest of Europe, India, China, Japan, Korea and Rest of Asia Pacific (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Agrochemical Market – Size, Growth, Forecast
• By Chemicals Type (Crop Protection Chemicals and Non Crop Protection Chemicals)
• By Product Type (Herbicides, Fungicides, Insecticides, Bio and Other Agrochemical and Non Crop Protection Chemicals)
• By Crop Type (Cereals, Corn, Fruits and Vegetables, Soybean, Sugarcane, Cotton and Others)
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Other Report Highlights
• Competitive Landscape
• Leading Companies
• Market Dynamics – Drivers and Restraints.
• Market Trends
• Porter Five Forces Analysis.
• SWOT Analysis.
• Company Analysis – Syngenta, Bayer, BASF, FMC, ADAMA, UPL, Nufarm, Nissan Chemicals, Dow Du Pont, Sumitomo Chemicals
Customization of the Report
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
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