AgriFutura November 2018 - The Global Agrochemical Market in 2018 - Preliminary Review

Our preliminary analysis of country market and company performances in 2018 estimates that the global market for agrochemicals, used in both crop and non-crop situations, has increased by 4.1% to $64,038 million at the ex-manufacturer level.

Global Agrochemical Market Value ($m.)

The Global Crop Protection Market

Based on this analysis, the global crop protection market is estimated to have increased by 4.2% to a total value of $56,500 m. during 2018.

The main factor which has led to this growth is a recovery in the Brazilian market, the largest in the world, after its significant decline in 2016 and 2017. The excessive crop protection inventories which resulted in the 2017 decline have been addressed and are no longer such an issue. Other positive drivers include the generally high level of crop protection prices, resulting partly from supply shortages. In particular the prices of products originating from China have been high as a result of the environmental pressures and consolidation in the Chinese industry. This has been exacerbated by the tariffs imposed by the US on some Chinese chemical imports; Albaugh, for example, has announced that it had to increase its prices partly as a result of these; so has FMC.

Crop Protection Market Performance 2018

Note: Market value is at ex-manufacturer level and average year exchange rates

In addition, a healthy level of new products, with 8 new actives introduced in 2018. This is the highest level of new product introductions since 2012 and include;

• The pyropene insecticide afidopyropen (trademarked as Inscalis) from Meiji Seika Pharma and licensed to BASF

• The triketone herbicide fenquinotrione from Kumiai; the insecticide flometoquin from MSK/Nippon Kayaku

• The arylpicolinate herbicide florpyrauxifen-benzyl (marketed as Rinskor) from DowDuPont

• The insecticide/acaricide fluxametametide (Gracia) from Nissan Chemical

• The fungicide pyraziflumid from Nihon Nohyaku

• The herbicide tiafenacil from FarmHannong

• The rice insecticide triflumezopyrim (trade marked as Pyraxalt), also from DowDuPont.

Regional Market Performance 2018 – Nominal US Dollar Growth

As can be seen in the above tables, it is estimated that the global crop protection market will record strong growth in 2018, rising by an estimated 4.2% to reach $56,500 million. Within this result, all regional markets are estimated to have increased with Latin America and Asia Pacific being most positive.