Sumitomo Chemical Opened its R&D Center in Brazil

Brazil:Sumitomo Chemical Group, a Japan based chemical manufacturing company announced the commencement of its Latin America Research Center(LARC), an R&D center in Sao Paulo, Brazil to conduct efficacy trials, R&D and analysis of crop protection products. LARC would be operated by Sumitomo Chemical Brazil, a fully owned subsidiary of the Sumitomo Chemical Group. The center has experimental fields, greenhouse and laboratory buildings, etc. in 48 hectares of area. Moreover, LARC would enhance the development of products in the region through research & trials adding to the fact that the Brazilian market is the largest market for agrochemicals, providing the company with an added advantage.

TechSci Research depicts that the opening of this new R&D center would help the company to strengthen its AgroSolution business and would also cater the feed additives and methionine business of the company. Therefore, the R&D center of Sumitomo Chemical is projected to stimulate the growth of the company in the agrochemical products market of the region.

According to the recently published report by TechSci Research, “Global Water Soluble Fertilizers Market By Type, By Composition, By Grade, By Structure, By Application, By Crop, By Region, By Sales Channel, Competition Forecast and Opportunities, 2011-2021”, the global market for water soluble fertilizers is projected to grow at a CAGR of more than 5% over the next five years, on account of growing demand for food grains, depleting water levels, shrinking availability of arable land, coupled with high efficiency and ease of usage of water soluble fertilizers as compared to conventional chemical fertilizers. In 2015, Europe dominated the global water soluble fertilizers market, followed by North America and Asia-Pacific. The global market for water soluble fertilizers is highly consolidated and dominated by few major players such as Coromandel International Ltd., Yara International, Agrium Inc., and Haifa Chemicals Ltd.