The agrochemical market in 2023 exhibited an unprecedented pattern, with 92% of products experiencing a decline, 8% remaining stable, and no varieties showing an increase. Compared to the previous year, the overall index witnessed a significant downturn of -37%. Here's a detailed analysis of the trends in various pesticide categories:

 

- Decline: -42%

- Top five declining varieties: Glufosinate-58%, Isoxaben-56%, Glyphosate-48%, 2,4-D-45%, Metolachlor-40%

- Non-selective herbicides emerged as a severely affected area, with the entire category experiencing a 15% decline.

 

- Decline: -36%

- Top five declining varieties: Thiacloprid-45%, Chlorfenapyr-45%, Bifenthrin-40%, Thiamethoxam-36%, Imidacloprid-35%

- Neonicotinoids and pyrethroids faced challenging times together, contributing to an overall 18% decline in the category.

 

- Decline: -30%

- Top five declining varieties: Propiconazole-64%, Propiconazole-53%, Pydiflumetofen-42%, Azoxystrobin-39%, Tebuconazole-32%

- Propiconazole achieved the "largest annual decline in five years" without the certificate of chlorothalonil, showcasing increased production capacity, leaving triazoles and methyl propionate esters lagging behind.

- 2019: Overall decline of -15%, with fungicides showing the best performance by only decreasing by 5%.

- 2020: Overall decline of -3%, with herbicides rising by 17% due to the impact of bispyribac and amide herbicides.

- 2021: No overall decline, with herbicides doubling to reach 133%.

- 2022: Inventory reduction in the first half, followed by a recovery and restocking in the third quarter. Herbicides experienced a 33% decline, insecticides -22%, and fungicides -19%.

 

- Almost all varieties experienced a decline throughout the year, with panic selling observed towards the end, particularly in nicotine and pyrethroid insecticides, resulting in the largest market downturn in nearly five years.

- New products in the three major categories – propiconazole raw material, chlorfenapyr raw material, and refined metolachlor raw material – defied historical trends by showing a downward trajectory, vividly demonstrating the cruelty of cyclical products in the industry.

- Comparing the price index on December 31, 2023, to that of December 30, 2018, the overall index dropped by 34%.

- Herbicides declined by -15%, insecticides by -51%, and fungicides by -39%, with insecticides and fungicides experiencing significantly higher declines than herbicides.