Global Agricultural Adjuvant Market by 2023 - Analysis, Forecasts & Opportunities by Type, Application, Region and Key players

The global agricultural adjuvant market has experienced a healthy growth over the past few years. The expanding demand for food, driven by population growth, has led to the usage of agricultural adjuvants for enhanced pest and plant disease control.

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IMARC’s latest report, entitled “Agricultural Adjuvant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global agricultural adjuvant market reached a value of US$ 2.8 Billion in 2017. Agricultural adjuvants refer to secondary products that are used to improve the efficiency and facilitate the functions of agrochemicals such as insecticides, herbicides and fungicides. Some of the most common adjuvants include surfactants, oils, wetting or spreading agents, drift control agents, and conditioning agents. Agricultural adjuvants can either be added to the spray tank alongside other agrochemical products or incorporated into a formulation. Nowadays, the rapid adoption of modern farming techniques has been spurring the demand for agricultural adjuvants.

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Market Trends:

Agricultural adjuvants help in increasing the performance and improve the cost-effectiveness of crop protection in modern agricultural techniques, such as precision farming, as they have the ability to improve the spreading, adhesion and wettability of spray droplets. This helps in the penetration of the active ingredient into the target species, thereby improving herbicide activity and pesticide absorption into plant cells as well as reducing herbicide photo-degradation. Apart from this, the increasing demand for food has encouraged the farmers to opt for advanced farming methods in order to produce higher yields, in turn, leading to a heightened demand for agricultural adjuvants. Additionally, the development of green adjuvant solutions which are environment-friendly and economical is further providing a positive thrust to the market growth. Looking forward, the market is projected to cross the value of US$ 3.9 Billion by 2023, growing at a CAGR of over 5.5% during 2018-2023.

Global Agricultural Adjuvant Market Segmentation:

Market Breakup by Type:

1. Activator Adjuvant

2. Utility Adjuvant

Based on type, the market has been segmented as activator adjuvant and utility adjuvant. Amongst these, activator adjuvant is the most popular product type, as it improves both the physical and chemical properties of the agrichemicals.

Market Breakup by Crop Type:

1. Cereals & Oilseeds

2. Fruits & Vegetables

3. Others

On the basis of crop type, cereals and oilseeds dominate the agricultural adjuvants market, holding the largest share. Cereals and oilseeds are followed by fruits and vegetables and others.

Market Breakup by Application:

1. Herbicides

2. Fungicides

3. Insecticides

4. Others

The market has also been segregated on the basis of application wherein herbicides represent the largest segment, accounting for the majority of the global share. Herbicides are followed by the fungicides, insecticides and other agrichemicals.

Market Breakup by Region:

1. North America

2. Europe

3. Asia Pacific

4. Latin America

5. Middle East and Africa

Region-wise, North America enjoys the leading position in the global agricultural adjuvant market. Other major regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being Akzo Nobel N.V., Croda International PLC, The DOW Chemical Company, Evonik Industries AG, Solvay, Huntsman International LLC., Nufarm Limited, Helena Chemical Company, Wilbur-Ellis Holdings, Inc. and Brandt.

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This release was published on openPR.