Global Pesticide Intermediate Market Report and Forecast 2024-2032

Global Pesticide Intermediate Market Report and Forecast 2024-2032

Global Pesticide Intermediate Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global pesticide intermediate market size reached a value of USD 21.7 billion in 2023. Aided by the escalating demand for agricultural solutions and the expanding applications of pesticide intermediates across various sectors, the market is projected to further grow at a CAGR of 4.4% between 2024 and 2032 to reach a value of USD 32.1 billion by 2032.

Pesticide intermediates represent a crucial segment within the broader spectrum of agrochemicals, functioning as essential building blocks in the synthesis of various pesticides. These chemical compounds serve as precursors in the production process, undergoing transformation into active ingredients that target pests, weeds, and diseases detrimental to agricultural crops. Pesticide intermediates play a pivotal role in enhancing crop yield, safeguarding food security, and sustaining agricultural productivity.

The pesticide intermediate market growth is underpinned by several key drivers. Population growth, coupled with urbanisation and changing dietary habits, has intensified the pressure on global food production systems, necessitating the adoption of advanced agricultural technologies and inputs to meet the burgeoning demand for food. Pesticide intermediates, with their role in facilitating the production of effective crop protection solutions, have emerged as indispensable components in modern agriculture.

Furthermore, the increasing prevalence of pests, diseases, and weed resistance poses significant challenges to agricultural productivity, driving the need for innovative and efficient pest management strategies. Pesticide intermediates, through their diverse chemical compositions and functionalities, enable the formulation of customized pest control solutions tailored to specific crop varieties and pest profiles. Additionally, the growing awareness regarding the adverse impacts of climate change on agricultural sustainability has underscored the importance of integrated pest management practices, further boosting the demand for pesticide intermediates, and consequently driving up the pesticide intermediate market share.

The market is witnessing a wave of technological advancements and innovations aimed at enhancing product efficacy, safety, and environmental sustainability. Manufacturers are investing in research and development activities to develop novel pesticide intermediates with improved properties such as higher potency, reduced toxicity, and enhanced environmental compatibility.

Moreover, the advent of biotechnology and molecular breeding techniques has opened up new avenues for the development of bio-based pesticide intermediates derived from natural sources such as plant extracts, microbial metabolites, and biopesticides. These bio-based alternatives offer environmentally friendly solutions to pest management challenges while minimising the risks associated with chemical pesticides, thereby aligning with the growing consumer preference for sustainable agricultural practices, leading to pesticide intermediate market development.

Insecticides are projected to hold a substantial portion of the market. They serve to deter insects from harmful activities by eradicating them and eradicating disease-carrying insects. The mechanisms of insecticides vary; certain types harm the insects' exoskeletons while others interfere with their nervous systems. They help reduce crop damage and play a role in disease prevention.

As per the pesticide intermediate market analysis, the market also reflects diverse trends and dynamics across different geographical regions. Developed economies such as North America and Europe continue to dominate the market, driven by the presence of established agricultural sectors, stringent regulatory frameworks, and high levels of technological adoption.

On the other hand, emerging markets in Asia Pacific, Latin America, and Africa are witnessing rapid growth fuelled by factors such as expanding arable land, increasing agricultural investments, and rising adoption of modern farming practices. Moreover, government initiatives aimed at promoting agricultural productivity, enhancing food security, and mitigating the impact of climate change are further bolstering the demand for pesticide intermediates in these regions.

Market Segmentation

The market can be divided based on the type, application, sales channel, and region

Market Breakup by Type

• Bio-Pesticide
• Chemical Pesticide

Market Breakup by Application

• Bactericide
• Insecticide
• Weeding
• Others

Market Breakup by Sales Channel

• Retail Stores
• Online Channels
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global pesticide intermediate market. Some of the major players explored in the report by Expert Market Research are as follows:

• Nippon Soda Co., Ltd.
• Bayer AG
• Anhui Guangxin Agrochemical Co., Ltd.
• BASF SE
• Ishihara Sangyo Kaisha, Ltd.
• Eastman Chemical Company
• LyondellBasell Industries Holdings B.V.
• The Dow Chemical Company
• Nouryon Chemicals Holding BV.
• Rainbow Chemical Co., Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.