Market Size:
The global agricultural adjuvants market size was valued at USD 2.92 billion in 2018 and is projected to reach USD 6.59 billion by the end of 2032, exhibiting a CAGR of 5.61% during the forecast period based on our analysis in the existing report.
This information is presented by Fortune Business Insights, in its report titled, “Agricultural Adjuvants Market Size Report, 2019-2032.”
The primary driver propelling the global market is the rise in demand for crop protection chemicals. In the past ten years, there has been a greater emphasis placed on raising awareness of the potential environmental effects of improper pesticide use. This factor is improving the market's revenue by fuelling demand for agricultural adjuvants.
Segmentation:
Insecticides to Emerge as Most Attractive Product Type due to Growing Demand in the Asia Pacific
Several adjuvant products available in the marketplace are mainly intended to offer a resolution of spray-mix incompatibilities resulting from the combination of one or more agrochemicals. Activator adjuvants especially surfactants are the major category of adjuvants that account for the largest market share.
Adjuvants application is projected to continue to dominate with herbicides application
Among applications, the herbicides segment accounts for the largest share as they are a major group of crop protection chemicals used in agriculture. Post-emergence herbicide effectiveness is significantly influenced by plant factors such as age, size, and growing conditions.
Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-adjuvants-market-100769
Report Coverage:
The market report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed at a rapid pace at the global level. The report examines various paradigm shifts associated with the transformation of software. It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the agricultural adjuvants market.
Drivers and Restraints:
Increasing Research and Development to Advance Agricultural Adjuvant Application Technology
Unmanned Surface Vehicles (UAV), also known as drones, have gained in popularity in recent years due to their high level of precision, cost, convenience, and safety. To address the increasing demand for these things among farmers worldwide, key market participants are introducing new products. Clariant, a leading manufacturer of agricultural specialty chemicals, announced the launch of DropForward in April 2022, a targeted strategy for delivering accurate application with adjuvants and co-formulants.
Regional Insights:
North America to Lead During the Forecast Period
Currently, North America and Europe are the two biggest markets for agricultural adjuvants, and they are anticipated to continue to have a sizable share of the global market during the forecast period. In North America and Europe, the market is being driven by strict regulations on the use of crop protection chemicals to save the environment from harmful impacts.
Due to the expanding market for crop protection chemicals, South America and the Asia-Pacific region are expected to have rapid market expansion. Another factor boosting the global market in these two regions is the rising knowledge among crop growers of the advantages of adjuvants with the spray chemicals.
Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Key Industry Development:
May 2021, Agoro Carbon Alliance is a new global company that Yara International said would help farmers embrace sustainable agricultural methods and make money. Farmers who participate in this initiative contribute to yield growth by implementing sustainable carbon farming techniques.
List of Key Players Mentioned in the Report:
BASF SE
Clariant AG
Akzo Nobel N.V.
Huntsman Corporation
Helena Agri-Enterprises
Stepan Company
DowDuPont
Wilbur-Ellis
Drexel Chemical
Nufarm