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South America Agrochemical Intermediates Market to Grow with a CAGR of 2.24 % through 2028

Increasing demand from agriculture sector and rising adoption of advanced farming practices are the major driver of the South America Agrochemical Intermediates Market in the forecast period 2024-2028

 

According to TechSci Research report, “South America Agrochemical Intermediates Market - By Region, Competition, Forecast and Opportunities, 2018-2028”, South America Agrochemical Intermediates Market Size is USD 4140.52 million in 2022 and is anticipated to increase at a CAGR of 2.24% through 2028. Agrochemical intermediates are pivotal components in the production of agricultural chemicals, including pesticides, herbicides, fungicides, and fertilizers. These specialized chemicals serve as the building blocks for the formulation of end-use agrochemical products. The demand for agrochemical intermediates is driven by several key factors that are reshaping the agriculture industry. First and foremost, the growing population is placing immense pressure on agriculture to produce more food. To meet this demand, farmers are increasingly relying on agrochemicals to enhance crop yields, protect crops from pests and diseases, and improve overall agricultural productivity. Agrochemical intermediates play a critical role in formulating these chemicals, making them indispensable in modern agriculture.

Moreover, the significant factor driving the demand for agrochemical intermediates is the need for sustainable farming practices. As awareness of environmental and health concerns related to agrochemicals grows, there is a shift towards more eco-friendly and targeted solutions. Agrochemical intermediates are essential in the development of safer and more environmentally friendly pesticides and herbicides that minimize adverse impacts on non-target organisms and reduce chemical residues in food.

 

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Moreover, the increasing adoption of precision agriculture technologies is amplifying the demand for tailored agrochemicals. These technologies enable farmers to apply agrochemicals with precision, optimizing their use and minimizing waste. Agrochemical intermediates are being developed to work in tandem with these precision farming techniques, ensuring that chemicals are delivered effectively and efficiently to maximize crop health and yield.

The South 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 2.65% during the forecast period 2024-2028. The market for agrochemical intermediates is expanding because of the products' wide variety of uses, affordability, high level of environmental sustainability, and low regulatory compliance requirements. The manufacture of several agrochemicals, including insecticides, fungicides, and plant growth regulators, uses amines as flexible intermediates. Amines are a top choice for businesses in the agrochemical intermediates market due to their wide range of uses. Aside from that, amines are attractive to businesses in this sector since they adhere to legal standards. For instance, amines are frequently used in the synthesis of agrochemicals that are approved for use in the region by regulatory bodies. This adherence to legal requirements aids in the expansion of the South America Agrochemical Intermediates market.

Based on the application, the herbicides segment is expected to register the highest growth of 2.72% during the forecast period, 2024-2028. The growth of agricultural operations, the potential for novel solutions, and helpful government policies are all factors contributing to this development. Herbicides are essential for weed management because they increase agricultural yields and increase food security. Herbicide use makes it possible to create specialized solutions for various crops and geographical areas. Because of their ability to adapt, businesses may set themselves apart from the competition by offering customized solutions that meet the unique needs of their clients. The expansion of the South America Agrochemical Intermediates Market is being driven by the increase in herbicide demand, which is being driven by rising food demands and the emphasis on sustainable agriculture methods during the forecast period.

Based on country, Brazil will witness fastest growth during the forecast period, 2024-2028. Brazil, with its vast agricultural expanse and diverse crop portfolio, stands as a significant player in the global agrochemical intermediates market. The demand for these intermediates in Brazil is shaped by several key factors. Firstly, the country's agricultural sector is under constant pressure to meet the food demands of both its domestic population and international export markets. This necessitates the use of agrochemicals, including intermediates, to optimize crop yields and ensure crop protection.

Moreover, Brazil's shift toward sustainable and environmentally responsible agriculture has fueled the demand for agrochemical intermediates that align with these principles. With increasing global awareness of the environmental impact of farming practices, Brazilian farmers are seeking intermediates that minimize soil and water contamination, reduce chemical residues on crops, and promote biodiversity. This trend is particularly evident in the growing adoption of bio-based intermediates and integrated pest management strategies.

Furthermore, the Brazilian government's support for agriculture through various policies and incentives has boosted the agrochemical sector's growth. These policies encourage innovation in the development of intermediates that address specific challenges faced by Brazilian farmers, such as pest and disease management in tropical climates. Brazil's prominence as a producer of commodities like soybeans, sugarcane, and coffee also drives demand for agrochemical intermediates. These crops require efficient pest control and nutrient management, making intermediates indispensable for ensuring high-quality yields.

 

Major companies operating in South America Agrochemical Intermediates Market are:

  • Bayer SA
  • Yara Brasil SA
  • Sumitomo Corporation do Brasil S.A.
  • Syngenta Agro S.A.
  • Corteva Agriscience Argentina S.R.L.

 

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“As the region grapples with the challenge of feeding a growing population, agrochemical intermediates become indispensable in helping farmers enhance crop yields, protect crops from pests and diseases, and maximize agricultural productivity. Additionally, the trend towards organic and bio-based farming practices has opened up opportunities for agrochemical intermediates that support the formulation of organic-approved pesticides and fertilizers creates a lucrative opportunity in the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

South 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 South 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 South America Agrochemical Intermediates Market.

 

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Relevant Reports

South America Agrochemical Intermediates Market, By Product Type (Amines, Alkyl Amines, Aldehydes, Acids, Others), By Application (Herbicides, Insecticides, Fungicides, Nematicides, Others), By Country and Competition, Forecast & Opportunities, 2018-2028F

Chemicals | Oct, 2023

Increasing demand from agriculture sector and rising adoption of advanced farming practices are the major driver of the South America Agrochemical Intermediates Market in the forecast period 2024-2028

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