Europe Agrochemical Intermediates Market to Grow with a CAGR of 4.13 % through 2028
Improving
the soil health and growing implementation of advanced farming practices are
the major driver of the Europe Agrochemical Intermediates Market in the forecast
period 2024-2028
According to
TechSci Research report, “Europe Agrochemical Intermediates Market - By
Region, Competition, Forecast and Opportunities, 2018-2028”, Europe Agrochemical
Intermediates Market Size is USD 11177.33 million in 2022 and is anticipated to increase at a CAGR of 4.13% by 2028. Agrochemical intermediates are chemical compounds that play a
pivotal role in the synthesis of agrochemicals, making them indispensable in
modern agriculture. Their significance lies in their capacity to substantially
increase crop yields, maintain crop quality, and reduce the environmental
impact associated with agricultural practices. While the use of synthetic
agrochemicals has raised concerns regarding potential adverse effects on the
environment and human health, ongoing research and development efforts are
actively promoting the emergence of more sustainable and environmentally
friendly alternatives in the agrochemical sector. Furthermore, the rise of
precision farming, a farming approach that utilizes technology to optimize crop
yields and minimize resource wastage, heavily relies on the accurate
application of agrochemicals. Achieving this precision necessitates the use of
specialized agrochemical intermediates, solidifying their status as an
indispensable component of modern farming practices. The adoption of precision
farming techniques is steadily increasing, particularly in developed countries,
where farmers are actively seeking ways to enhance operational efficiency and
reduce costs. Consequently, the growing adoption of precision farming
techniques is propelling the demand for agrochemical intermediates.
Additionally,
agrochemical intermediates play a crucial role in the production of various
types of pesticides, including herbicides, fungicides, and insecticides.
Prominent 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.
Amines, alkylamines, aldehydes, and acids are among the most commonly used
agrochemical intermediates among end-users, further contributing to the growth
of the Europe Agrochemical Intermediates Market in the forecast period.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Europe Agrochemical Intermediates Market”
Furthermore,
amines, including alkylamines, serve as versatile agrochemical intermediates
that are employed in the synthesis of a diverse array of agricultural
chemicals. Their pivotal role extends to the production of herbicides,
fungicides, insecticides, and plant growth regulators. Amines' capacity to
engage in various chemical bonding processes renders them indispensable for
tailoring agricultural solutions that cater to specific crops and geographic
regions. In addition to this, certain agrochemical intermediates encompass
specialized ingredients derived from renewable sources such as agricultural residues,
plant extracts, and microbial processes. These environmentally friendly
intermediates play a crucial role in the manufacturing of sustainable
agrochemicals.
The Europe 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 4.54% during the forecast period 2024-2028. The expansion
of the agrochemical intermediates market can be attributed to its wide array of
applications, cost-effectiveness, high level of environmental sustainability,
and minimal regulatory compliance demands. Amines are versatile intermediates
extensively used in the production of various 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,
amines are favored by companies in this market due to their adherence to
regulatory requirements. For instance, amines are commonly employed in the
synthesis of agrochemicals that have received regulatory approvals from
entities in the region. This commitment to meeting regulatory standards is
expected to drive the growth of the Europe Agrochemical Intermediates Market
throughout the forecast period.
Based on the application,
the herbicides segment is expected to register the highest growth of 4.61%
during the forecast period, 2024-2028. This trend can be attributed to the
expansion of agricultural activities, the opportunity for innovative solutions,
and supportive government policies. Herbicides play a crucial role in weed
control, ultimately resulting in higher crop yields and improved food security.
The use of herbicides enables the creation of customized solutions tailored to
different crops and geographical regions. This adaptability allows companies to
differentiate themselves in the market by offering specialized solutions that address
the specific needs of their clientele. The upsurge in herbicide demand, fueled
by growing food requirements and a focus on sustainable agricultural practices,
is propelling the growth of the Europe Agrochemical Intermediates Market in the
projected period.
Based
on country, France will witness largest growth during the forecast period,
2024-2028. The demand for agrochemical intermediates in France has been
steadily increasing in recent years, reflecting the country's commitment to
modern and sustainable agricultural practices. France is renowned for its rich
agricultural heritage and is a leading agricultural producer in Europe. To
maintain and enhance crop yields while minimizing environmental impact, French
farmers are increasingly turning to agrochemical intermediates. These chemical
compounds serve as the foundation for the creation of essential agricultural
inputs, including fertilizers, pesticides, herbicides, and plant growth
regulators. By utilizing agrochemical intermediates, French farmers can
fine-tune their farming practices, optimizing resource utilization and crop
protection. The demand for these intermediates is driven by the need to strike
a balance between increasing food production to meet growing global demands and
adhering to stringent environmental regulations. Sustainable farming practices,
which rely on precise and targeted applications of agrochemicals, are gaining
prominence in France, further fuelling the demand for these intermediates. As
the country continues to prioritize environmentally responsible agriculture and
sustainable food production, the demand for agrochemical intermediates is
expected to remain robust and play a pivotal role in shaping the future of
French agriculture.
Major companies
operating in Europe Agrochemical Intermediates Market are:
- BASF SE
- Nouryon Chemicals Holding BV
- Arkema S.A.
- LyondellBasell Industries Holding B.V.
- Lanxess AG
- Evonik Industries AG
- Solvay S.A.
Download Free Sample Report
Customers can also
request for 10% free customization on this report.
“The market has
experienced significant expansion in recent times, primarily driven by the
increasing adoption of agrochemical intermediates within the agricultural
industry. These crucial intermediates play a fundamental role in the
manufacturing of pesticides, herbicides, and fungicides, supporting farmers in
augmenting crop yields, controlling pests and diseases, and elevating overall
crop quality. Moreover, a rising requirement for agrochemical intermediates
derived from natural or organic sources, particularly bio-based agrochemicals,
is becoming increasingly evident. These bio-based agrochemicals are extracted
from natural reservoirs and are widely regarded as a safer and more
ecologically sound alternative when compared to their synthetic counterparts.
The projected surge in demand for bio-based agrochemicals is poised to
stimulate the necessity for the corresponding agrochemical intermediates
essential in their manufacturing processes. These bio-based agrochemical
intermediates originate from renewable origins, leading to a reduced carbon
footprint and bolstering long-term sustainability, aligning with evolving
environmental preferences in the market that creates a lucrative opportunity in
the market growth,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Europe 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 Europe 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 Europe Agrochemical Intermediates Market.
Contact
Techsci
Research LLC
420 Lexington
Avenue, Suite 300, New York, United States- 10170
M:
+13322586602
Email: [email protected]
Website: https://www.techsciresearch.com