The global agriculture market is predicted to witness significant growth in coming years owing to rising demand for food across the globe. Agriculture involves cultivation of land and breeding of plants and animals to provide fiber, food, and medicinal substances in order to enhance life. Farmers sow different types of seeds on regular intervals in accordance with climatic conditions. They make use of fertilizers and various irrigation techniques to maintain crop growth and finally harvest them by using advanced machines.
The biofertilizers market was estimated at USD 699.6 million in 2016 and is projected to grow over the forecast period on account of increasing inclination towards natural and organic food products which has resulted in growth of associated markets such as biofertilizers.
Global crop protection chemicals market is anticipated to witness a steady growth on account of modernisation in agricultural techniques. The overall market is projected to expand at a healthy CAGR over the forecast years. These substances are specially designed to either destroy the pests or keep them away from crops. These compounds work on push-pull methods. Push method consists of those chemicals that keep pests away from the yield.
The global phosphate rock market size was estimated to be 226.68 million tons in 2016 driven primarily by the food demand associated with the growing population.
The global azoxystrobin market is expected to witness significant growth over the next few years. This increase can be attributed to the rising demand for this fungicide from the expanding agriculture industry around the world.
The global market for ammonium sulfate is expected to grow over the forecast period on account of the growing demand from the agricultural industry and increasing fertilizers demand which will be a key factor for growth.
The global glyphosate market is expected to be valued at USD 9 billion over the forecast period of 2016-2024. Surging demand for (GM) genetically modified crops is expected to remain a key driver for the market.
Bauxite ore is the world largest naturally occurring source of aluminum, with over 90% of global volume obtained by processing bauxite. Alumina is aluminum oxide which is an intermediate product during the manufacturing of aluminum from bauxite. Australia and China are the largest producers of bauxite with a combined production of over 110 million metric tons in 2012.