DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/shmmds/global) has announced the addition of the "Global Agrochemicals Industry 2012-2017: Trend, Profit, and Forecast Analysis" report to their offering.
The global agrochemicals industry experienced robust growth over the last five years but is expected to experience moderate CAGR of 5.4% over next five years (2012-2017) and reach approximately US $262 billion in 2017. New product development and innovation at competitive prices are anticipated to drive the agrochemicals industry.
Developing countries such as China and India are demanding higher crop volumes and nutritious food, which is likely to increase agrochemicals market over the forecast period. Soil infertility is a serious issue across the African continent so fertilizer usage in Africa is expected to increase in the coming years.
Lucintel's research indicates that in 2011, the industry witnessed good growth due to continuous expansion of developing agriculture based economies in the Asia Pacific (APAC) region. Companies spend extensively on the research and development of new chemicals and improving the performance of the existing ones.
Technologies that increase the efficiency of pesticides and fertilizers products that reduce negative environmental impacts are bound to have significant markets internationally. In Latin America, increased production of crops such as soybeans and sugarcane for animal feed as well as for biofuels drove the growth of agrochemicals consumption during recent years. Available arable land per capita is declining globally. The pressure, therefore, is for the agriculture industry to increase yields per acre, which can be achieved through increased usage of agrochemical products.
As the study indicates, a large untapped market, shrinking of arable land in recent years, increasing demand for food grain production, and increasing population are anticipated to drive the global agrochemicals industry. The industry is expected to face certain challenges such as regulatory standards to reduce toxicity, high inventory, low profit margins, and patent expirations. The research report tracks two market segments for four geographic regions; thus, it tracks eight segments of the global agrochemicals industry.
For more information visit http://www.researchandmarkets.com/research/shmmds/global