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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