The global market for conventional crop protection products (excluding sales of herbicide tolerant and insect resistant seed, as well as non-crop agrochemicals) is estimated to have increased in 2017; when measured in real terms (excluding the impact of inflation and currency factors) the overall market is estimated to have decreased marginally, down by 0.5% on the previous year.
Syngenta retained its position as the leading agrochemical company for the tenth year in a row during 2017, despite sales declining by 3.1%.
The fastest growing of the leading companies on the basis of sales growth over the last five year period are those focused on post-patent products, particularly the Chinese companies Shandong Weifang Rainbow Chemical and Nutrichem, followed by Albaugh, UPL and FMC.
In 2017 the value of the herbicide sector increased by 3.2%. The performance of the herbicide segment during the year was boosted by improved glyphosate prices, however high inventories and unfavourable market conditions, particularly in Latin America and adverse weather conditions in Europe, slightly offset growth.
In 2017 fungicide sales decreased. The decline in sales was somewhat offset by improved weather conditions in Asia. Despite the estimated decline in 2017, fungicide sales have experienced the greatest growth of the leading product sectors over the past 5 year period.
Insecticide sales increased in 2017, representing a 24.9% share of the crop protection market. Sales were boosted by increased demand in North America.
In Latin America, sales are estimated to have declined with the drop largely attributable to Brazil.
European crop protection sales are estimated to have increased.
The Asia/Pacific region performed well with sales estimated to have increased. Key country markets in the region, notably India, benefitted from a return to favourable monsoon conditions.
As for the Middle East and African region, Phillips McDougall estimate that sales increased in 2017. Growth can be attributed to improved sales in South Africa where favourable rainfall boosted acreages of maize and soybeans.
This information was taken from the June 2018 edition of the AgriService overview by Phillips McDougall. Produced by our expert team of analysts in crop protection, AgriService offers market leading intelligence on the global crop protection industry.