Market growth is also driven by the use of agrochemicals in the production of biofuels, which are rapidly gaining in importance over traditional petroleum-based fuel. Programs such as Integrated Nutrient Management (INM) and Integrated Pest Management (IPM) are now in place to minimize risks from agrochemicals related to health, economy, and environment.
Fertilizers offer nutrients that are essential for proper crop growth, as these fulfill the nutritional deficiencies of the soil, providing crops with nutrients that aren't naturally available in appropriate amounts. Nitrogenous fertilizers command a large market share of more than 46%, but have a comparatively low growth rate.
Phosphatic fertilizers have a lower market share but a higher growth rate due to the increase in production by major players. Organophosphate pesticides are expected to have high market share and growth potential. This is mainly because of the wide range of chemicals under this class, including glyphosate, diazinon, and chlorpyrifos.
This research report categorizes the global agrochemicals market on the basis of products in to the following submarkets:
- Global Fertilizers Market: Nitrogenous, Phosphatic, and Potassic
- Global Pesticides Market: Organochlorines, Organophosphates, Pyrethroids, Neonicotinoids, Biopesticides and others
For more information: http://www.marketsandmarketsblog.com/market-reports/chemical