Agricultural Chemicals: A Global Outlook
San Jose, California (PRWEB) September 10, 2008
Over the past few decades, methods of cultivation have undergone a sea change. The current style of agriculture depends heavily on an assortment of fertilizers, biocides, food additives, insecticides, pesticides and herbicides. These chemicals increase the agricultural yield, minimize crop losses and facilitate sustainable food supply. Demand is primarily dependent on the agriculture sector, and volatility stems from factors such as, changes in crop prices, weather, new product developments, agricultural policies and the status of subsidies. Future growth in the world agricultural chemicals market is expected to stem largely from increased primary nutrient chemical consumption in developing countries. The forecasted rise in demand in these regions will be partially offset by declining demand in developed countries.
On a regional scale, Asia alone accounts for a major share of fertilizer consumption in the world. Growth of meat consumption in Asia is driving up demand for fertilizers used in the cultivation of feed grain used as fodder in rearing animals for the production of meat. Two leading Asia markets for agricultural chemicals are China and India. In recent years, the shortage of crop production in China is driving up the demand for fertilizers particularly potash in the country. Growing demand for ethanol in the United States has propped up fertilizer growth by translating into increased fertilizer used in the cultivation of corn crop, which is a primarily source for ethanol. Apart from Asia, Latin America is also a major user of fertilizers. A major market in the region is Brazil.
Nitrogenous fertilizers dominates the global fertilizers market followed by phosphate and potash fertilizers. Extensive usage of nitrogen fertilizers is expected to continue in grain and fiber crops. Currently, four major nitrogen materials that are predominantly used are anhydrous ammonia, urea, urea-ammonium nitrate solution and ammonium nitrate. Demand for nitrogenous fertilizers in developed regions, such as, EU, and the US is slowing down as apprehension over the impact of these fertilizers on human, and animal health intensifies. Some of the Nordic countries in Europe such as Norway, Sweden, and Denmark have already cut down fertilizer use by 30%. Vast growth potential exists for a new generation of multi-nutrient fertilizers, such as, Compound Fertilizers, Complex Fertilizers, and Slow Release Fertilizers, and Blended Fertilizers.
Despite the opportunities in store, growth in the overall agrochemicals market is expected to be tempered following the growing incidence of alternative farming methods such as integrated pest management, use of biotechnology products and organic farming. Other issues acting as a stumbling block in the market's growth include environmental directives, and imposition of taxes. Few of the environmental hazards associated with excess use of fertilizers include eutrification of ponds and lakes as nutrients leach out of the soil and contaminate groundwater, and rising levels of nitrate residues in drinking water.
The report titled "Agricultural Chemicals: A Global Outlook", published by Global Industry Analysts Inc, provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. Annotated with 54 information-rich tables presenting market data findings, and analytical research projections, the entire discussion allows the reader to build a macro-level perception of the industry by gaining rudimentary insights into types of fertilizers, and its demand, sales of agrochemicals by country/region, and unique regional market dynamics (fertilizer/pesticides sales by product type, ammonia production capacity, and leading players ranked by production capacity by fertilizer type across select countries/region). A regional-level of market discussion covers the US, Canada, Japan, Europe (France, Germany, UK, Spain), China, India, Indonesia, Latin America, and Africa. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 306 companies worldwide.
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