The global agricultural adjuvant market accounted for a value of USD 3.1 billion in 2019. It is projected to register growth at a CAGR of 4.1% during forecast period.
COVID-19 has impacted agricultural sector across the world. The demand and food supply has been affected due outbreak of corona virus. Travel restrictions, border closures, quarantines, trade and market supply chain has played a crucial role in disrupting access to sufficient food. The nutritious sources of food were also unavailable during pandemic. Due to closure of borders and by government to control the spread of virus has impacted export and import of all items during pandemic. Domestic companies have played an important role in fulfilling demands of adjuvant, pesticides and fertilizers. There was a imbalance between demand and supply chain. Adjuvant depends on various raw materials such as petroleum and vegetable oils. The prices of these items have increased due to which the adjuvant prices are also increased. Thus, there is a decline in agricultural adjuvant market due to pandemic.
For more details, visit: Global Agricultural Adjuvant Market By Crop Type (Cereals & Pulses, Oilseeds & Grains, others), By Formulation (Emulsifiable Concentration, Suspension Concentration), By Application, By Region–Forecast & Opportunities to 2026
The government across the world is promoting eco-friendly activities. The bio-based adjuvant such as organo modified siloxanes, methylated seed oil and modifies vegetable oils are becoming popular due to its eco-friendly nature and they are promoted by government organizations. Thus, the demand for such adjuvant is rising rapidly which drives growth in this market during forecast period.
On the basis of crop type, the agricultural adjuvant market is segmented into cereals & pulses, oilseeds & grains, fruits & vegetables and others. The cereals & pulses segment is estimated to be the fastest growing segment during the forecast period. To grow cereals and grains nonionic surfactants are used with agrochemicals. The demand for food is growing with growth in population around the world. To meet the high demands crops need to protected from damage and chemicals. This drives growth in cereals and grains segment in agricultural adjuvant market.
On the basis of formulation, the agricultural adjuvant market is segmented into emulsifiable concentration and suspension concentration. The suspension concentration segment is estimated to register growth at highest CAGR during forecast period. They are solid active ingredients which can be dispersed in water. They are beneficial as they absence of dust, small particle size of the active ingredients and absence of flammable liquids. They are easy to use and effective. All these factors are likely to drive growth in this segment during forecast period.
On the basis of application, the agricultural adjuvant market is segmented into herbicides, insecticides and fungicides. The herbicides segment is projected to register growth at highest CAGR during the forecast period. The herbicides tolerance and disease resistance traits are much in demand by the farmers across the globe. The regulation against crop protection chemicals and early germination pest attacks incidents are rising immensely among the crops. This is likely to drive growth in herbicides sector during forecast period.
Asia-Pacific region is estimated to register growth at highest CAGR during the forecast period. The developing countries in Asia-Pacific region have vast land for agriculture purposes. The improved, enhanced and efficient modern agricultural methods are widely adopted by these countries in Asia-Pacific region. Farmers are utilizing chemical pesticides and agricultural adjuvant to fulfill growing demand of food. All these factors together contribute in driving growth in this region during forecast period.
The key market players in agricultural adjuvant market are Corteva Agriscience, Evinik Industries, Croda International, Nufarm, BASF, Solvay, Clariant, Stepan, Agri-enterprises, Wilbur-Ellis Company, Brandt, Innvicts Crop Care, CHS Inc., Nouryon and Kalo Inc.
- What are the expected industry trends over the next three to five years?
- Which of the agricultural adjuvant crop type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?