North America Agrochemical Intermediates Market to Grow with a CAGR of 3.97 % through 2028

Enhancing the soil health and rising adoption of advanced farming practices are the major driver of the North America Agrochemical Intermediates Market in the forecast period 2024-2028.

According to TechSci Research report, “North America Agrochemical Intermediates Market - By Country, Competition, Forecast and Opportunities, 2018-2028”, North America Agrochemical Intermediates Market Size is USD 12,091.10 million in 2022 and is anticipated to increase at a CAGR of 3.97%. Agrochemical intermediates represent chemical compounds pivotal in the synthesis of agrochemicals, holding a critical role in modern agriculture. Their significance lies in their ability to significantly enhance crop yields, preserve crop quality, and mitigate the environmental footprint associated with agricultural practices. Although the use of synthetic agrochemicals has given rise to concerns related to their potential adverse impacts on both the environment and human health, ongoing research and development endeavors are actively contributing to the emergence of more sustainable and environmentally friendly alternatives within the agrochemical sector. Furthermore, the advent of precision farming, a farming methodology that leverages technology to optimize crop yields while minimizing wastage, relies heavily on the precise application of agrochemicals. This precision can only be achieved using specialized agrochemical intermediates, making them an indispensable component of modern farming practices. The adoption of precision farming techniques is on the rise, particularly in developed countries, where farmers are actively seeking ways to enhance operational efficiency and reduce costs. Consequently, the growing embrace of precision farming techniques is fueling the demand for agrochemical intermediates.

Moreover, agrochemical intermediates play a vital role in the production of various types of pesticides, including herbicides, fungicides, and insecticides. Notable examples of these agrochemical intermediates encompass 4-Fluorotoluene Diethyl Phosphorochloridothionate, 2-Chloro-6-(Trichloromethyl) Pyridine, 2-Chloro-5-Chloro Methyl Pyridine, and 2-Chloropropionic Acid. Among end users, amines, alkylamines, aldehydes, and acids stand as some of the most employed agrochemical intermediates. Their widespread usage further contributes to the growth of the United States Agrochemical Intermediates Market within the forecast period.

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Moreover, amines, including alkylamines, are versatile agrochemical intermediates used to synthesize a wide range of agricultural chemicals. They are crucial in the creation of herbicides, fungicides, insecticides, and plant growth regulators. Their ability to form various chemical bonds makes them indispensable in tailoring solutions for specific crops and regions, along with this, some agrochemical intermediates include specialty ingredients derived from renewable sources, such as agricultural residues, plant extracts, and microbial processes. These eco-friendly intermediates are key components in the production of sustainable agrochemicals.

The North America Agrochemical Intermediates Market is segmented into product type, application, country distribution, and company

Based on the category of product type insights, the amines segment is expected to register the highest growth of 4.39% during the forecast period 2024-2028. The expansion witnessed in the agrochemical intermediates market can be attributed to its wide array of applications, cost-efficiency, remarkable environmental sustainability, and relatively lenient regulatory compliance prerequisites. Amines stand out as exceptionally versatile intermediates, finding utility in the production of a diverse spectrum of agrochemicals, including herbicides, fungicides, insecticides, and plant growth regulators. This extensive range of applications positions amines as the preferred choice for companies operating within the agrochemical intermediates sector. Moreover, companies in this market favor amines due to their alignment with regulatory requirements. For instance, amines are frequently employed in the synthesis of agrochemicals that have secured regulatory approvals from entities such as the Environmental Protection Agency (EPA) in the region. This strict adherence to regulatory standards significantly contributes to the growth of the North America Agrochemical Intermediates Market throughout the forecast period.

Based on the application, the herbicides segment is expected to register the highest growth of 4.46% during the forecast period, 2024-2028. This emerging trend can be ascribed to the expansion of agricultural activities, the potential for innovative solutions, and the supportive policies implemented by governments. Herbicides, essential for effective weed control, ultimately result in higher crop yields and improved food security. The application of herbicides facilitates the creation of tailored solutions, adapted to various crops and geographical regions. This adaptability empowers companies to distinguish themselves in the market by offering specialized solutions that cater to the unique needs of their customers. The upsurge in herbicide demand, fueled by the growing requirements for food production and the emphasis on sustainable agricultural practices, is a driving force behind the growth of the North America Agrochemical Intermediates Market during the projected period.

Based on country, United States will witness fastest growth during the forecast period, 2024-2028. This can be attributed to the significant agricultural sector in the United States, which yields a diverse range of crops encompassing grains, oilseeds, fruits, vegetables, and more. The demand for agrochemicals, including intermediates essential for manufacturing pesticides and fertilizers, remains substantial to sustain this extensive agricultural activity. Furthermore, the presence of supportive government policies and regulations focused on agriculture and environmental sustainability adds to the requirement for agrochemical intermediates. These policies frequently promote the utilization of agrochemicals that are both crop-friendly and environmentally safe.

Major companies operating in North America Agrochemical Intermediates Market are:

• Dow Inc.
• Eastman Chemical Company
• Noah Chemicals Corporation
• Adama Agricultural Solutions Ltd
• AGC Chemicals Americas, Inc.
• GFS Chemicals, Inc.

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“The market has witnessed substantial growth in recent years, primarily fueled by the growing utilization of agrochemical intermediates within the agricultural sector. These intermediates are essential to produce pesticides, herbicides, and fungicides, which assist farmers in enhancing crop yields, managing pests and diseases, and enhancing overall crop quality. Additionally, there is an increasing demand for natural or organic-based agrochemical intermediates, such as bio-based agrochemicals. These bio-based agrochemicals are derived from natural sources and are perceived as safer and more environmentally friendly compared to synthetic counterparts. Anticipated growth in the demand for bio-based agrochemicals is expected to drive the need for agrochemical intermediates utilized in their production. Bio-based agrochemical intermediates are sourced from renewable resources, resulting in a lower carbon footprint and greater long-term sustainability creates a lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“North America Agrochemical Intermediates Market, By Product Type (Amines, Alkyl Amines, Aldehydes, Acids, Others), By Application (Herbicides, Insecticides, Fungicides, Nematicides, Others), By Country, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of North America Agrochemical Intermediates Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America Agrochemical Intermediates Market.

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