Global agchem and pesticide markets to grow by 8.7%

Date:01-13-2014

The report” Agrochemical and Pesticide Markets in the World to 2018”shows that the expansion of the global agrochemical and pesticide industry is forecast to reach 8.7% p.a. in the coming years.

The market increased with an average annual growth of 9.8% between 2007 and 2013. Currently, herbicides, plant-growth regulators(PGRs), and anti-sprouting products cover the largest part of the world market accounting for 41.5% of the demand while the remaining market share is divided between insecticides (27.1%), fungicides (21.5%), disinfectants (3.4%), and other agrochemicals and pesticides (6.5%).

China, France, Germany, India, and the United States represent the largest agrochemical and pesticide markets while the strongest annual growth is forecast to occur in Azerbaijan (18.2%), Egypt (15.6%), Macedonia (15.4%), Turkey (14.4%) and Moldova (13.8%).