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Delray Beach, FL, Dec. 02, 2024 (GLOBE NEWSWIRE) -- The agrochemicals market size is expected to grow steadily, reaching an estimated value of USD 282.2 billion by 2028, up from USD 235.2 billion in 2023, at a compound annual growth rate (CAGR) of 3.7% during the forecast period. This growth is fueled by the rising global population, increased food demand, and agricultural intensification. Agrochemicals, encompassing fertilizers, pesticides, adjuvants, and plant regulators, play a pivotal role in safeguarding crops, enhancing yields, and maintaining food quality. Key Growth Drivers Rising Global Population According to the United Nations' World Population Prospects 2022, the global population has surpassed 8 billion, creating an urgent need for higher agricultural productivity. This surge in population exerts pressure on limited arable land, driving the demand for agrochemicals to bridge the gap between food production and consumption. Technological Advancements in Agriculture The integration of advanced tools like precision farming has transformed traditional agricultural practices. By employing technologies such as soil sensors, AI-driven analytics, multispectral imaging, and autonomous delivery systems, farmers can optimize fertilizer and water usage, improving soil productivity while minimizing environmental impact. The precision farming approach ensures targeted application, reducing the risk of overfertilization and enhancing overall efficiency. Opportunities in Precision Agriculture Precision agriculture incorporates tools such as the "4Rs" principle (right source, rate, time, and place), soil mapping, and decision-support software to monitor and address crop nutrient needs effectively. Innovative systems like auto-guidance and leaf color charts enable farmers to fine-tune agrochemical applications, thereby maximizing crop health and yield. Tailored Data Solutions to Meet Your Unique Business Needs Globalization and Emerging Needs The globalization of agriculture has facilitated the exchange of agricultural commodities, bringing with it new challenges in pest and disease management. This has increased the demand for novel active ingredients to protect crops . Asia, with its rapidly growing population and economic expansion, has emerged as a significant market for agrochemicals, particularly herbicides and pesticides. Regional Growth Spotlight: South America South America is projected to achieve a market size of USD 73.2 billion by 2028, driven by robust growth in countries like Brazil and Argentina, major global producers of soybeans and other oilseeds. These nations benefit from abundant arable land, a rural labor force, and favorable trade policies. Technological advancements and greater adoption of agrochemicals have further bolstered their agricultural productivity. Key Industry Developments and Innovations Major agrochemical companies , including Bayer AG (Germany), Syngenta (Switzerland), and BASF (Germany), continue to lead innovation in the sector. Recent developments include: Wilbur-Ellis Co.'s launch of DILIGENCE-EA in 2018, a deposition and drift reduction product powered by ACCUSTRIKE technology. Precision Laboratories' collaboration with Monsanto in 2019 to develop advanced drift reduction agents. Such advancements enhance agrochemical effectiveness, reduce environmental liabilities, and address the challenges of drift control. Outlook and Future Trends The agrochemicals market growth is driven by increasing research and development in innovative adjuvants and active ingredients. As the demand for sustainable and efficient farming practices rises, agrochemical companies are expected to focus on precision technologies and environmentally friendly solutions. With expanding markets in Asia and South America, the sector is well-positioned to meet the growing challenges of global food security. This dynamic market, characterized by technological advancements and evolving farming practices, underscores the crucial role of agrochemicals in shaping the future of agriculture . Make an Inquiry to Address your Specific Business Needs Adjacent Markets: A Gateway to New Business Opportunities Controlled-release Fertilizers Market Inoculants Market
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CHATHAM, N.J. (AP) — That buzzing coming out of New Jersey? It's unclear if it's drones or something else, but for sure the nighttime sightings are producing tons of talk, a raft of conspiracy theories and craned necks looking skyward. Cropping up on local news and social media sites around Thanksgiving, the saga of the drones reported over New Jersey has reached incredible heights. This week seems to have begun a new, higher-profile chapter: Lawmakers are demanding (but so far not getting) explanations from federal and state authorities about what's behind them. Gov. Phil Murphy wrote to President Joe Biden asking for answers. New Jersey's new senator, Andy Kim, spent Thursday night on a drone hunt in rural northern New Jersey, and posted about it on X. But perhaps the most fantastic development is the dizzying proliferation of conspiracies — none of which has been confirmed or suggested by federal and state officials who say they're looking into what's happening. It has become shorthand to refer to the flying machines as drones, but there are questions about whether what people are seeing are unmanned aircraft or something else. Some theorize the drones came from an Iranian mothership. Others think they are the Secret Service making sure President-elect Donald Trump’s Bedminster property is secure. Others worry about China. The deep state. And on. In the face of uncertainty, people have done what they do in 2024: Create a social media group. The Facebook page, New Jersey Mystery Drones — let’s solve it , has nearly 44,000 members, up from 39,000 late Thursday. People are posting their photo and video sightings, and the online commenters take it from there. One video shows a whitish light flying in a darkened sky, and one commenter concludes it’s otherworldly. “Straight up orbs,” the person says. Others weigh in to say it’s a plane or maybe a satellite. Another group called for hunting the drones literally, shooting them down like turkeys. (Do not shoot at anything in the sky, experts warn.) Trisha Bushey, 48, of Lebanon Township, New Jersey, lives near Round Valley Reservoir where there have been numerous sightings. She said she first posted photos online last month wondering what the objects were and became convinced they were drones when she saw how they moved and when her son showed her on a flight tracking site that no planes were around. Now she's glued to the Mystery Drones page, she said. “I find myself — instead of Christmas shopping or cleaning my house — checking it,” she said. She doesn't buy what the governor said, that the drones aren't a risk to public safety. Murphy told Biden on Friday that residents need answers. The federal Homeland Security Department and FBI also said in a joint statement they have no evidence that the sightings pose “a national security or public safety threat or have a foreign nexus.” “How can you say it’s not posing a threat if you don’t know what it is?” she said. “I think that’s why so many people are uneasy.” Then there's the notion that people could misunderstand what they're seeing. William Austin is the president of Warren County Community College, which has a drone technology degree program, and is coincidentally located in one of the sighting hotspots. Austin says he has looked at videos of purported drones and that airplanes are being misidentified as drones. He cited an optical effect called parallax, which is the apparent shift of an object when viewed from different perspectives. Austin encouraged people to download flight and drone tracker apps so they can better understand what they're looking at. Nonetheless, people continue to come up with their own theories. “It represents the United States of America in 2024,” Austin said. “We’ve lost trust in our institutions, and we need it.” Federal officials echo Austin's view that many of the sightings are piloted aircraft such as planes and helicopters being mistaken for drones, according to lawmakers and Murphy. That's not really convincing for many, though, who are homing in on the sightings beyond just New Jersey and the East Coast, where others have reported seeing the objects. For Seph Divine, 34, another member of the drone hunting group who lives in Eugene, Oregon, it feels as if it’s up to citizen sleuths to solve the mystery. He said he tries to be a voice of reason, encouraging people to fact check their information, while also asking probing questions. “My main goal is I don’t want people to be caught up in the hysteria and I also want people to not just ignore it at the same time,” he said. “Whether or not it’s foreign military or some secret access program or something otherworldly, whatever it is, all I’m saying is it’s alarming that this is happening so suddenly and so consistently for hours at a time,” he added. Golden reported form Seattle.Agriculture & Natural Solutions Acquisition Corporation Receives FIRB Approval In Connection with Previously Announced Business Combination