Agricultural farming depends on the climate and the soil. Soil, if not suitable for farming, is made suitable by the addition of chemicals like pesticides and fertilizers etc. Addition of these chemicals is done through various techniques like ploughing etc. Agricultural chemicals are used for improving the quality of soil and to increase the yield of the crop. They have to be carefully used and should be added in appropriate quantities since their overuse can sometimes be harmful to farmers as well as to the soil. Asian countries like India and China have extensively used these chemicals to increase the crop yield. The market can be segmented according to the products into insecticides, pesticides, fungicides, herbicides, and synthetic fertilizers.
Developments in technology to boost production with the expansion of arable land along with increasing government investments for farmer protection and increasing crop yields are huge opportunities for this market. The increasing population of developing countries and their demand for food production will lead to the extensive use of agricultural chemicals.
One of the major inhibitors for the growth of this market is that if agrichemicals stored in large quantities become poisonous and become one of the major reasons for creating ecological and health hazards. Governments have passed many regulations for these chemicals such as permits to buy and use authorized agri-chemicals. Misuse of these poisonous agri-chemicals like inappropriate storage can lead to large penalties and fees as per government rules. The emphasis on using organic compounds by environmental organizations can also hamper the growth of this market.
Some of the major companies in this market are Gujarat State Fertilizers and Chemicals Ltd., Qatar Fertilizers Company (S.A.Q), Haifa Chemicals Ltd., Israel chemicals Ltd.(Icl), Agrium Inc, Apache Corporation, Yara International Asa, Uralkali Jsc, The Mosaic Co., Eurochem, Coromandel International Limited, Aries Agro Limited , Bayer and BASF (Germany), Dow and Monsanto (U.S.), Potash (Canada), and Syngenta (Switzerland), Longcom Enterprise Limited, Uralchem Ltd., Fauji Fertilizer Bin Qasim Ltd, and Linzer Agro Trade GmbH, etc.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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