Forecast Period
|
2018-2028
|
Market Size (2022)
|
USD 9055.05 Million
|
CAGR (2023-2028)
|
4.14%
|
Fastest Growing Segment
|
Herbicides
|
Largest Market
|
Midwest
|
Market Overview
The United States Agrochemical
Intermediates Market was valued at USD 9055.05 Million in 2022 and is
anticipated to project robust growth in the forecast period with a CAGR of 4.14%
through 2028. Agrochemical intermediates are chemical compounds that are used
as raw materials or building blocks in the production of agrochemicals, which
are used in agriculture to increase crop yields and protect crops from pests
and diseases. Agrochemical intermediates are extensively used to produce
pesticides such as herbicides, fungicides, and insecticides. For examples
4-Fluorotoluene Diethyl Phosphorochloridothionate, 2-Chloro-5-Chloro Methyl
Pyridine, 2-Chloro-6-(Trichloromethyl) Pyridine, and 2-Chloropropionic Acid. Along
with commonly used agrochemical intermediates among end users are alkylamines,
amines, aldehydes, and acids. Moreover, agrochemical intermediates are
essential for modern agriculture. They play a key role in maintaining crop
quality, reducing the environmental impact of agriculture, and increasing crop
yields. While the use of synthetic agrochemicals raised concerns about
environmental and human health impacts therefore, ongoing research and
development are leading toward the development of more sustainable and
environmentally friendly agrochemicals. All these factors contribute to the
growth of the United States Agrochemical Intermediates Market in the forecast
period.
Key Market Drivers
Increasing Soil Depletion Driving the
market growth
In the intricate tapestry of
agriculture, soil serves as the foundation upon which the world's food
production rests. However, the challenge of soil depletion has emerged as a
pressing concern, driven by intensive farming practices and population growth.
As soil quality dwindles, the demand for agrochemical intermediates is on the
rise, offering a potential solution to rejuvenate and enhance agricultural
productivity. Soil depletion refers to the gradual loss of essential nutrients,
organic matter, and overall soil health. This decline is often a result of
continuous cultivation, inadequate nutrient replenishment, erosion, and
imbalanced nutrient management. As soils become depleted, their ability to
support vigorous plant growth diminishes, leading to decreased yields and
compromised crop quality. Along with this, agrochemical intermediates play a
crucial role in combating the effects of soil depletion by replenish vital
nutrients that have been depleted from the soil due to multiple cropping cycles,
enable farmers to apply nutrients in a targeted manner, ensuring optimal uptake
by plants while minimizing waste, and some agrochemical intermediates contribute
to improving soil structure, water-holding capacity, and microbial diversity,
which are vital for sustaining healthy soils. Therefore, increasing soil
depletion result in increasing the demand of agrochemical intermediate led to
the growth of United States Agrochemical Intermediates Market.
Rising Adoption of Modern Farming
Practices
In a rapidly changing world, agriculture
stands at the crossroads of innovation and sustainability. The adoption of
modern farming practices is necessary to meet the growing demand for food while
minimizing environmental impact. Agrochemical intermediates emerge as a vital
tool in this journey, empowering farmers to embrace modern techniques that
maximize efficiency, productivity, and ecological balance. Modern farming
practices encompass a range of innovative approaches that leverage technology,
data, and sustainable methods to optimize crop production which includes precision
agriculture employs data-driven technologies like GPS, remote sensing, and
drone imagery to precisely manage inputs such as water, fertilizers, and
agrochemicals, Integrated Pest Management (IPM) integrates multiple pest
management strategies, utilizing agrochemicals alongside biological controls
and cultural practices to reduce pesticide reliance, conservation agriculture
emphasizes minimal soil disturbance, crop residue retention, and diverse crop
rotations to enhance soil health and water retention, and enrich soil
fertility, suppress weeds, and break pest cycles, reducing the need for excessive
agrochemical use. Furthermore, modern farming practices, when supported by
optimized agrochemical intermediates, often result in increased crop yields due
to efficient resource management. Thus, the large number of benefits of agrochemical
intermediates is anticipated to drive the demand of United States Agrochemical
Intermediates Market in the forecast period.
Growing Demand for Food
Due to population growth, urbanization,
and changing dietary preferences, the demand for food is surging like never
before. As this demand intensifies, the agrochemical intermediate market has
emerged as a critical player in supporting global agriculture. These essential
components play a pivotal role in ensuring that farmers can produce abundant,
high-quality food while navigating the challenges posed by limited arable land
and a changing climate. The growing demand for food is driving the demand for
agrochemical intermediates. Agrochemical intermediates are chemicals that are
used to produce pesticides, herbicides, and fertilizers that are used in
agriculture to increase crop yields and protect crops from pests and diseases. Furthermore,
agrochemical intermediates, the building blocks of agrochemicals such as
fertilizers and pesticides, are at the forefront of this transformative journey
as agrochemical intermediates, when formulated into fertilizers, enhance soil
fertility and nutrient availability, leading to higher crop yields, pesticides
derived from agrochemical intermediates protect crops from pests and diseases,
safeguarding yields and ensuring food security, and through precision nutrient
management facilitated by agrochemical intermediates, crops receive the
nutrients they need at the right time, minimizing waste and maximizing
productivity. Thus, these factors dominate the growth of United States Agrochemical
Intermediates Market in the forecast period.
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Key Market Challenges
High Cost of Agrochemical Intermediates
Agrochemical intermediates can be
expensive, which can limit their use by farmers. The high cost of agrochemical
intermediates can be attributed to various factors such as developing and
refining bio-based or advanced agrochemical intermediates involves significant
research, testing, and regulatory approval processes, some bio-based or
specialty ingredients used in agrochemical intermediates may be more costly to
produce compared to conventional alternatives, the manufacturing processes for
certain agrochemical intermediates, especially those derived from novel sources,
can be more intricate and costly, and limited supply and growing demand for
sustainable alternatives can lead to higher prices.
Regulated the Soil pH
In the intricate world of agriculture,
soil pH stands as a pivotal factor that profoundly influences crop growth,
nutrient availability, and overall productivity. Amid this intricate dance
between soil chemistry and plant vitality, the impact of soil pH on
agrochemical intermediates emerges as a critical consideration, shaping the
effectiveness of these inputs in sustainable farming practices. Soil pH is a
measure of the acidity or alkalinity of the soil. The pH scale ranges from 0 to
14, where 7 is neutral. Values below 7 indicate acidity, while values above 7
indicate alkalinity. Each pH unit change represents a tenfold difference in
acidity or alkalinity. The optimal pH range for most crops falls between 6 and
7, slightly acidic to neutral. Soil pH directly affects nutrient availability
by influencing the solubility of essential elements. Agrochemical intermediates
undergo chemical transformations that alter nutrient accessibility to plants which
might hamper the growth of United States Agrochemical Intermediates market in
the projected period.
Key Market Trends
Sustainable Farming
In the heart of the United States, a
profound transformation is taking place within the agricultural sector. Fueled
by the need to balance food security, environmental stewardship, and economic
viability, sustainable farming practices are emerging as a beacon of hope.
Sustainable farming is more than just a trend; it's a paradigm shift that
recognizes the interconnectedness of ecosystems, food production, and human
well-being. This holistic approach seeks to minimize negative impacts on the
environment while ensuring productive and profitable farming operations.
Agrochemical intermediates compounds used as building blocks in the creation of
agrochemicals like pesticides and fertilizers play a crucial role in this
journey. Furthermore, sustainable farming with agrochemical intermediates is a
delicate balance between maintaining high crop yields and safeguarding the
environment. Utilizing agrochemical
intermediates, farmers can create targeted and precise applications of
pesticides and fertilizers. This minimizes waste, reduces environmental impact,
and prevents overuse. Moreover, agrochemical intermediates contribute to the
development of Integrated Pest Management (IPM) strategies, which focus on
natural pest control methods and the careful use of pesticides only when
necessary. In addition, agrochemical intermediates facilitate the formulation
of customized fertilizers that meet specific crop needs. This reduces nutrient
runoff into water bodies, mitigating water pollution.
Additionally, sustainable farming with
agrochemical intermediates also addresses the ecological footprint of
agricultural practices such as precise application methods and targeted
formulations minimize the risk of chemical runoff, preserving soil quality and
water resources, use of agrochemical intermediates can lead to soil amendments
that improve soil structure, nutrient retention, and microbial diversity and sustainable
practices encourage the presence of beneficial insects, birds, and other
wildlife, contributing to a balanced ecosystem. Furthermore, innovations in the
agrochemical industry are fueling the sustainable farming movement such as Nanoformulations
which includes nanotechnology for the precise targeting of agrochemicals,
reducing overall application volumes, and harnessing data analytics and digital
tools optimizes agrochemical application, making it more efficient and precise.
Increasing Demand of Bio-Based
Agrochemical Intermediates
The agricultural industry is undergoing
a remarkable evolution as sustainability takes center stage. At the heart of
this transformation lies the exploration and utilization of bio-based
agrochemical intermediates – a game-changing approach that promises to reshape
farming practices, protect the environment, and ensure food security for
generations to come. Bio-based agrochemical intermediates are derived from
renewable sources such as agricultural residues, plant extracts, and microbial
processes. These intermediates serve as the foundation for producing
eco-friendly pesticides, fertilizers, and other essential agricultural inputs.
By harnessing the power of nature's building blocks, farmers can achieve
effective pest management and nutrient enhancement while minimizing
environmental impact. Moreover, bio-based agrochemicals break down naturally in
the environment, minimizing soil and water pollution. This promotes healthier
ecosystems and protects non-target organisms. Unlike traditional agrochemicals
derived from fossil fuels, bio-based intermediates reduce greenhouse gas
emissions and reliance on non-renewable resources. They contribute to a
circular economy by utilizing agricultural waste and byproducts. Bio-based
intermediates are often less toxic to humans, animals, and beneficial insects
compared to synthetic chemicals. This contributes to safer working conditions
for farmers and healthier food systems. Additionally, bio-based intermediates
enable the creation of biopesticides that combat pests through natural
mechanisms. These solutions target specific pests while preserving beneficial
insects and pollinators. Bio-based intermediates contribute to the development
of biostimulants that enhance plant growth, nutrient uptake, and stress
tolerance. This results in healthier and more resilient crops. Organic
fertilizers derived from bio-based intermediates release nutrients slowly over
time, enriching soil fertility and minimizing nutrient runoff.
Segmental Insights
Product Type Insights
Based on the product type, the amines segment is expected to
register the highest growth of 3.84% during the forecast period 2024-2028. This
growth is attributed to the wide range application, cost-effective, high
environmental sustainability and low regulatory compliance required. Amines are
versatile intermediates that can be used in the production of a wide range of
agrochemicals, including herbicides, fungicides, insecticides, and plant growth
regulators. This makes them a popular choice for companies in the agrochemical
intermediate market. Additionally, Amines are often preferred by companies in
the agrochemical intermediates market because they are compliant with
regulatory requirements. For example, amines are commonly used in the synthesis
of agrochemicals that have been approved by regulatory bodies such as the
Environmental Protection Agency (EPA) in the United States which leads to the
growth of United States Agrochemical Intermediates Market during the forecast
period.
Application
Insights
Based on
the application, the herbicides segment is expected to register the highest
growth of 4.63% during the forecast period, 2024-2028. This can be ascribed to
the growing agriculture activities, customized solution, innovation
opportunities, and favourable government policies. Herbicides are essential for
effective weed control, which helps to increase crop yields and improve food
security. Herbicide application allows for the development of customized
solutions for different crops and regions. This allows companies to
differentiate themselves from competitors by offering tailored solutions that
meet the specific needs of their customers. The rise in the demand for
herbicides due to increasing food demand and the need for sustainable
agriculture practices is propelling the growth of the United States Agrochemical
Intermediates Market during the projected period.
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Regional Insights
Midwest
United States Agrochemical Intermediates Market will witness fastest growth
during the forecast period, 2024-2028. This is because Midwest is often
associated with conventional agriculture, and states like Illinois, Iowa,
Indiana, and Missouri are known for their extensive agriculture and are often
referred to as the "Corn Belt" and "Grain Belt." These states
have a significant presence in the production and use of agrochemicals, given
the large-scale farming operations in the region.
Recent Developments
- In February 2022, Noah Chemicals
delivers innovative and high-quality customer-focused chemicals & solutions
that benefit the agriculture industry.
- In August 2021, GFS Chemicals
introduced new high purity acid product line for trace metal analysis across an
array of industries. These pure acids is used as standards to support
analytical methodologies used in the detection of trace metal contaminates at
the parts-per-trillion and parts-per-billion levels.
- In April 2021, Global Pharma and
Agrochemical Supply Partner AGC Chemicals Americas Provides APIs and Raw
Materials to Meet Large Industry Demand.
- In December 2018, Clariant
and Eastman Chemical Company announced an exclusive cooperation agreement for
the distribution of Eastman’s Tamisolve NxG solvent, an innovative, low-tox,
and highly effective solvent for the agrochemical industry.
Key Market Players
- Dow Inc.
- Eastman Chemical Company
- Noah Chemicals Corporation
- Adama Agricultural Solutions
Ltd
- AGC Chemicals Americas, Inc.
- GFS Chemicals, Inc.
By Product Type
|
By Application
|
By Region
|
- Amines
- Alkyl
Amines
- Aldehydes
- Acids
- Others
|
- Herbicides
- Insecticides
- Fungicides
- Nematicides
- Others
|
- Northeast
- Midwest
- West
- South
|
Report Scope:
In this report, the United States Agrochemical
Intermediates Market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- United States Agrochemical
Intermediates Market, By
Product Type:
o Amines
o Alkyl Amines
o Aldehydes
o Acids
o Others
- United States Agrochemical
Intermediates Market, By
Application:
o Herbicides
o Insecticides
o Fungicides
o Nematicides
o Others
- United States Agrochemical
Intermediates Market, By Region:
o Northeast
o South
o Midwest
o West
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the United States Agrochemical Intermediates Market.
Available Customizations:
The United States Agrochemical Intermediates Market
report with the given market data, Tech Sci Research offers customizations
according to a company's specific needs. The following customization options
are available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
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