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Agricultural Adjuvants Market Global Size and Share Forecast till 2026
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Moreover, the global market is anticipated to rise at a CAGR of 5.77% between 2015 and 2026. In 2015, the market was valued at US$ 2.893 Bn and the report suggests that the global market is likely to reach US$ 4.55 Bn by 2026.
Some of the major companies that are present in the Global Agricultural Adjuvants Market are;
• BASF
• Clariant
• AkzoNobel
• Huntsman Corporation
• Helena Agri-Enterprises, LLC
• Stepan Company
• DowDuPont
• Wilbur-Ellis
• Drexel Chemical
• Nufarm
• Others
North America and Europe Cover the Maximum Share in the Market
The two largest markets for agricultural adjuvants are in North America and Europe. These two regions account for the maximum share in the global market. Governments in these two regions have formulated strict regulations and guidelines on use of crop protection chemicals and to protect the environment. This, in turn, will help to protect the environment from hazardous chemicals, in turn driving the market.
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Activator adjuvants are increasingly penetrating in North America and Europe. This, coupled with the recent introduction of cost-effective and novel products, is expected to create growth opportunities for the market in the forecast years. Growing awareness about modern agricultural procedures, especially in North America is enabling growth in the market.
Other regions such as Asia Pacific and South America are expected to register strong growth potential in the forecast horizon. Rising use of crop protection chemicals is the chief factors driving the market in these regions. Crop farmers and farmers are becoming more aware of the benefits of fered by using agricultural chemical adjuvants. This is further expected to spur growth in the market and increase demand for adjuvants with spray chemicals in these two regions.
Adjuvants Help to Improve the Agrochemical Efficiency, thus Promoting Sustainability
Agricultural adjuvant chemicals are added to pesticides by users with an aim to enhance pesticide efficiency, as per the U.S. Environmental Protection Agency (EPA). The growing importance and need for precision farming is acting as a potential growth enabler to the market. With precision farming, farmers can use agricultural adjuvants to implement agrochemical applications. Use of surfactants, emulsifiers, and oils will help in the effective use of crop protection chemicals, which is expected to push the market’s growth.
Major Segmentation Includes:
By Type
• Activator Adjuvants
• Utility Adjuvants
By Application
• Herbicides
• Insecticides
• Fungicides
• Others
By Crop
• Cereals
• Oilseeds
• Fruits & Vegetables
• Other Crops
By Geography
Recent technological improvements in cultivation crops will aid the expansion of the overall market. Furthermore, farmers around the world have become well aware of advanced farming techniques to protect their crops and enhance crop yield. This is expected to augment demand for agricultural adjuvants over the years to come.
Rising population is compelling farmers and crop producers to use adjuvants and pesticides. As per the UN Department of Economic and Social Affairs, the global population is estimated to reach approx. 9.8 billion by 2050 from 7.6 billion in the year 2017. This exponential rise in population will fuel demand for crops. This, coupled with the rising focus towards sustainable agriculture, will contribute to the expansion of the agricultural adjuvants market.
Product Innovations to Push the Market Growth
In July 2018, Sapec Agro Business acquires SDP with an aim to enter the adjuvant sector. The company further plans to strengthen its position especially in specialty crop nutrition across various markets. In August 2018, Brandt announced the launch of an innovative adjuvant called TriTek. This insecticide adhesive will provide additional nutrients and strengthen to plants.
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