North America Agrochemicals Market – By Type, Application and Geography – Market Shares, Forecasts and Trends (2017 – 2022)
- 8 January, 2017
- 131 pages
- Mordor Intelligence
- Agriculture Reports
The agrochemicals market in North America is estimated to grow at a CAGR of 4.0% during 2015-2020.
North America Agrochemicals Market Dynamics
Being one of the most commercialized and industrialized agrochemicals markets globally, the regional market growth of North America depends on the need of productivity of agricultural fields while keeping intact the soil health. For that, development of noble and safe products would be essential. An integrated approach to farming is the way ahead for the industryâ€™s sustenance. Environmental and regulatory constraints, the popularity of natural and eco-friendly alternatives and the conflict with the use of GM crops are the major issues faced by the industry here.
North America Agrochemicals Market Segmentation
In the product segment, nitrogenous fertilizers form the largest share of fertilizer market. Pesticides market is currently lead by herbicides products (covering 41.5%) followed by fungicides and insecticides. Rice, wheat, corn, fruits and vegetables, sugarcane, and cotton are the major crop varieties consuming agrochemicals like pesticides, fertilizers etc.
The US represents the largest agrochemicals market in North America followed by Canada and Mexico. Canada is expected to exceed the US by posting a faster growth in terms of value demand as the country is focusing more on its agriculture sector growth. In terms of end-use area, crop-based applications of various agrochemicals in the region would be dominant with regard to volume consumed and value demanded, as well as with regard to recording a faster growth compared to non-crop-based applications. Cereals and grains like maize, wheat and oil seed crops consume the majority of inputs here.
Key Players in the North American Agrochemicals Market
Given the large operational area and never ending need of the agrochemical industry, many market players and companies have entered the industry. The industry is concentrated within six major manufacturers covering the majority of market share with Bayer AG being the largest agrochemical producer in the world. Some of the big names include Yara International ASA, BASF, Bayer Crop Science, Makhteshim Agan Industries Ltd, Dow Agro Sciences, Monsanto, Syngenta, Agrium,CF Industries Holdings, Potash Corporation etc.