PUBLISHER: The Business Research Company | PRODUCT CODE: 1539697
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539697
Halogenated agrochemicals are agricultural chemicals that have been chemically modified by the addition of halogen atoms such as fluorine (F) and chlorine (Cl). These compounds are extensively used as pesticides, herbicides, fungicides, and insecticides to protect crops from pests, diseases, and weeds. Halogenation typically improves the chemical's effectiveness, stability, and environmental persistence, though it can also lead to concerns about environmental and health impacts due to its potential persistence and toxicity.
The primary types of halogenated agrochemicals include herbicides, insecticides, and fungicides. Herbicides are chemicals designed to eliminate unwanted plants (weeds) in agricultural fields by disrupting their growth processes or by directly poisoning the plants. The various halogen types are categorized into chlorine-based agrochemicals, bromine-based agrochemicals, fluorine-based agrochemicals, and iodine-based agrochemicals, and they are applied in diverse ways such as foliar sprays, soil treatments, and seed treatments. The main users of these chemicals include farmers, agricultural workers, and agricultural companies.
The halogenated agrochemicals market research report is one of a series of new reports from the business research company that provides halogenated agrochemicals market statistics, including halogenated agrochemicals industry global market size, regional shares, competitors with an halogenated agrochemicals market share, detailed halogenated agrochemicals market segments, market trends and opportunities, and any further data you may need to thrive in the halogenated agrochemicals industry. This halogenated agrochemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The halogenated agrochemicals market size has grown strongly in recent years. It will grow from $177.82 billion in 2023 to $189.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth during the historic period can be attributed to rising food demand, economic growth in developing regions, government support, heightened awareness of the benefits of agrochemicals, soil degradation, and limited availability of agricultural land.
The halogenated agrochemicals market size is expected to see strong growth in the next few years. It will grow to $247.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth anticipated in the forecast period can be attributed to the adoption of bio-based agrochemicals, a greater emphasis on precision agriculture, increased investments in research and development, the impact of organic farming on demand, the adoption of sustainable agricultural practices, and heightened regulatory scrutiny. Major trends expected during this period include a shift towards sustainable alternatives, the advancement of digital farming technologies, innovation in agrochemical formulations and delivery methods, and the integration of pest management (IPM) strategies.
The rising demand for food production is expected to drive the growth of the halogenated agrochemicals market in the coming years. Factors such as population growth, urbanization, dietary changes, and increasing incomes are contributing to the growing need for food production. Halogenated agrochemicals play a crucial role in protecting crops from pests and diseases, leading to higher yields and helping to ensure food security amid the rising global demand for agricultural products. For example, in December 2022, the Food and Agriculture Organization (FAO), a specialized agency of the United Nations based in Italy, reported that the global production of primary crop commodities in 2021 increased by 2% from the previous year, reaching a total of 9.5 billion metric tons. Cereals were the leading crop group, accounting for 32% of this production, followed by sugar crops at 22% in 2021. Consequently, the growing demand for food production is expected to fuel the expansion of the halogenated agrochemicals market.
Major companies in the halogenated agrochemicals market are increasingly focusing on the development of sustainable fertilizers and pesticides, such as biofungicide premixes, designed to protect crops by combating pests and preventing fungal diseases. A biofungicide premix is a formulated product that blends one or more biological agents, such as beneficial bacteria or fungi, to manage plant fungal diseases in an environmentally friendly and sustainable manner. For example, in November 2023, FMC Corporation, a U.S.-based chemical manufacturing company, launched Ethos Elite LFR, a novel insecticide/biofungicide premix. This innovative solution combines the proven pyrethroid insecticide bifenthrin with two proprietary biological strains from FMC, Bacillus velezensis strain RTI301 and Bacillus subtilis strain RTI477. Ethos Elite LFR is designed to provide comprehensive early-season disease and soilborne pest control. It is approved for use on a variety of crops, including corn, soybeans, cotton, peanuts, tomatoes, and canola. This initiative underscores FMC's commitment to advancing sustainable agricultural practices through integrated pest management solutions.
In December 2023, Crystal Crop Protection Limited, an India-based agrochemical manufacturing company, acquired the trademark for the herbicide Gramoxone from Syngenta Group Co., Ltd. for an undisclosed sum. This acquisition of the Gramoxone trademark represents a strategic initiative aimed at bolstering Crystal Crop Protection's footprint in the herbicide market. By capitalizing on Gramoxone's established reputation, Crystal Crop Protection seeks to broaden its influence among farmers in India. Syngenta Group Co., Ltd., headquartered in Switzerland, specializes in manufacturing halogenated herbicides, including Gramoxone.
Major companies operating in the halogenated agrochemicals market are BASF SE, Bayer AG, Sumitomo Chemical Company Limited, Corteva Agriscience Inc., Syngenta AG, Mitsui Chemicals Inc., Lanxess AG , United Phosphorus Limited (UPL) Limited, FMC Corporation, ADAMA Agricultural Solutions Ltd., Nufarm Limited, Zhejiang Wynca Chemical Group Co Ltd, Nissan Chemical Corporation, Kumiai Chemical Industry Co. Ltd., Nippon Soda Co Ltd, Ishihara Sangyo Kaisha Ltd., Sipcam Oxon Group, Dow AgroSciences LLC, Cheminova A/S, AMVAC Chemical Corporation, Sharda Cropchem Limited, Rotam Global AgroSciences, Albaugh LLC, Crystal Crop Protection Limited, Drexel Chemical Company, Isagro SpA
Asia-Pacific was the largest region in the halogenated agrochemicals market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the halogenated agrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the halogenated agrochemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The halogenated agrochemicals market consists of sales of fluorinated nematicides, halogenated insect growth regulators, and halogenated soil fumigants. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Halogenated Agrochemicals Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on halogenated agrochemicals market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for halogenated agrochemicals ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The halogenated agrochemicals market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.