Malaysia Agrochemicals Market
In Malaysia, agriculture is an important industry, as it ensures food security and increases income levels in rural areas. The gradual decline of arable land can be attributed to urbanization. Population statistics and declining arable land have been responsible for maintaining adequacy in agricultural practices, ensuring greater utilization of agrochemical products in the areas that were ignored in the past. In Malaysia, the use of agrochemicals has been growing at a significant pace, particularly, for pesticides and fertilizer consumption, as modern practices are being utilized in fields. The growth of agrochemical industry also depends on the rapid expansion of areas, under oil palm and rubber plantations.
Market Dynamics:The major drivers of the Malaysian agrochemical market include demand growth for chemical fertilizers in plantation crops, urbanization, decline in arable land, and government policies, to promote the use of organic fertilizers. Irrespective of drivers and positive trends, the growth of agrochemical market in Malaysia is still being bogged down due to various factors, which include:
- Volatile fertilizer prices
- Need for sustainable agriculture
- Growing demand for food safety and quality
Market SegmentationOn the basis of product type, agrochemicals market has been segmented into fertilizers, pesticides, adjuvants, and plant growth regulators. In product segment, potassic fertilizers segment occupies the largest share of the fertilizer market. This growth can be attributed to the continued expansion of oil-palm cultivation, which requires a significant amount of potassic fertilizers. Based on application, the market has been segmented into crop-based, such as, cereals and grains, oilseeds, and vegetables, and non-crop-based applications, such as, oil palm, rubber, turf and ornamental, and others. Plantation crops, like oil palm and rubber, consume the majority of agrochemicals in the country.
The Malaysian agrochemical market is highly dominated by local players. The market players are investing in R&D, in order to diversify their biological research divisions in the expanding marketplace. Some of the top players in Malaysian agrochemical market include:
- Agricultural Chemicals (M) Sdn. Bhd. (ACM)
- Halex Group
- Agri Fert
- Hextar Group
- Crop Protection (M) Sdn. Bhd.
- Nufarm Ltd
- Farmcochem Group
The Report Offers:
- Market analysis for the Malaysian agrochemicals market, with region-specific assessments and competition analysis, including market share analysis.
- Market overview, along with identification and analysis of the macro and micro factors, which affect the Malaysian agrochemicals market and are instrumental in changing the market scenario on the regional scale.
- Extensively researched competitive landscape section, with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them, to sustain and grow in the studied market.
In 2016, Hextar Fertilizer group acquired CCM fertilizer division, which increased their market shares in the fertilizer market. The recently released product, Hasil Emas 2, by Halex group, has a greater acceptance among the organic farmers, due to its eco-friendly approach.
The Report Holds Importance for the Following Stakeholders:
- Producers and manufacturers
- Agricultural input companies
- Enterprises, operating in the industry
- Traders and stakeholders, operating in the sector
- Investors/research institutions, interested in the market