Market Overview:
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, 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 fueling demand for agricultural adjuvants.
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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.
Report Coverage:
The market report focuses on key regions worldwide to help readers better understand the industry. It offers insights into the latest trends and rapidly advancing technologies on a global scale. The report explores significant changes in software development and highlights factors that either promote or hinder growth, providing a detailed overview of the agricultural adjuvants market.
Source: https://www.fortunebusinessinsights.com/industry-reports/agricultural-adjuvants-market-100769
Market Main Objective:
The agricultural adjuvants market doesn't have a single objective itself, but rather exists to serve the needs of various participants in the agricultural industry. Here are some of the key objectives:
For farmers: Increase crop yields and improve the effectiveness of crop protection chemicals.
For pesticide manufacturers: Enhance the performance of their products, allowing for lower application rates and potentially reducing costs for farmers.
For policymakers: Encourage sustainable agricultural practices by promoting adjuvants that can help reduce overall pesticide use.
Overall, the agricultural adjuvants market aims to improve agricultural efficiency and productivity while promoting sustainability.
Drivers and Restraints:
Increasing Research and Development to Advance Agricultural Adjuvant Application Technology
Unmanned Aerial Vehicles (UAVs), also known as drones, are gaining momentum in popularity due to their precision, affordability, simplicity, and enhanced safety mechanisms. To meet this worldwide rise in consumer interest from agriculturalists, major corporations are entering the market with innovative solutions. For instance, Clariant, a leading manufacturer of agrochemicals, recently introduced DropForward in April 2022. This technology is designed to ensure accurate delivery through the use of 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
Top firms employ different tactics to solidify their standing in the market. A primary method is to merge with other businesses to boost their brand's worth. Another crucial tactic is consistently introducing new products after in-depth market analysis and grasping the needs of their intended customers.
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