Agricultural Adjuvants Market: Growth Opportunities and Recent Developments

The agricultural adjuvants market size is estimated to be valued at USD 3.7 Billion in 2022 and is projected to reach USD 4.7 Billion by 2027, recording a CAGR of 5.2% during the forecast period in terms of value. Due to high adoption rate of sustainable agricultural practices in North America and European regions, the demand for agricultural adjuvants is substantially increasing.

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Key players in this market include Corteva Agriscience (US), Evonik Industries (Germany), Croda International (UK), Nufarm (Australia), Solvay (Belgium), BASF SE (Germany), Huntsman Corporation (US), Clariant AG (Switzerland), Helena Agri-Enterprises LLC (US), Stepan Company (US), Adjuvant Plus Inc., (Canada), Wilbur-Ellis Company (US), Brandt, Inc. (US), Plant Health Technologies (US), Innvictis Crop Care LLC (US), Miller Chemical and Fertilizer, LLC (US), Precision Laboratories, LLC (US), CHS Inc. (US), WinField United (US), Kalo Inc. (US), Nouryon (Netherlands), Interagro Ltd. (UK), Lamberti S.P.A (Italy), GarrCo Products, Inc. (US), Drexel Chemical Company (US), and Loveland Products Inc. (US).

The existing players in the agricultural adjuvants market are focused on improving their market shares while new startups are being established rapidly. The top players in the market have been focusing on expanding their market presence, enhancing their solutions, and partnering with many channel partners and technology companies to cater to consumers across the globe. The agricultural adjuvants market has many organized players at the global level and unorganized players at the local level in several countries. The top ten players in the industry have the majority of the market share. Furthermore, for new entrants, the entry barrier is too high as, this industry requires innovations in formulation of new agrochemical adjuvant products in order to stand out in the global market.

BASF SE is one of the top players in agricultural adjuvants market in 2022. It is a chemical manufacturing company operating in the market segments of chemicals, performance products, functional materials & solutions, agricultural solutions, and oil & gas. Since January 1, 2019, BASFs activities were bifurcated into six segments—chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. Some of the subsidiaries of BASF include Wintershall (Germany), Engelhard Corporation (US), PCI Augsburg GmbH (Germany), and Watson Bowman ACME (US). The company is currently focused in introducing new products in the agricultural adjuvants market. For instance, in March 2022, BASF launched an innovative product called Vesnit® Complete, an in-formulation adjuvant, which is a combination of two different modes of action i.e., Topramezone & Atrazine, and an inbuilt adjuvant which makes it unique in effectively controlling grasses & broadleaf weeds for longer duration.

Clariant AG develops, manufactures, distributes, and sells a wide range of specialty chemicals. It operates through four business segments such as care chemicals, catalysis, natural resources, and plastics & coatings. The company offers adjuvants through its care chemicals segment. It offers various types of surfactants for crop care and personal care formulations. The company is focused in acquiring and expanding its production across the globe. For instance, in September 2020, the Company, through its subsidiaries in Mexico, acquired Clariant (Mexico) S.A. de C.V.’s (Clariant) anionic surfactant business located in Santa Clara, Mexico. The acquisition did not include the purchase of a manufacturing site. And in May 2020, Clariant increased its production capacities at the European and US units, which will facilitate the company to fulfil the rising demands for the same in the countries.

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North America is the leading consumer of pesticides due to the high regulatory compliance requirements for pesticide application. As the adoption rate of agricultural adjuvants in these countries remains high, North America dominated the market in 2021. This market is also projected to witness a steady demand during the forecast period.

Since the number of bans on the usage of chemical pesticides in European countries is increasing, the market for agricultural adjuvants is projected to grow at a sluggish rate in this region compared to other regions. On the other hand, with increasing investments in the expansion of production facilities in the Asia Pacific, the market in this region is projected to witness exponential growth during the forecast period.