Agricultural Adjuvants Market Global Upcoming Trends, Growth Drivers, Opportunities and Challenges

The rising demand for agricultural adjuvants to improve the performance of pesticides formulation, and increasing food requirement due to the surging population are driving the growth of the agricultural adjuvants market. In 2017, the market attained a size of $2,777.6 million, and is expected to generate a revenue of $3,778.9 million by 2023, advancing at a CAGR of 5.3% during the forecast period (2018-2023).

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Based on chemical group, the agricultural adjuvants market is divided into alkoxylates, sulfonates, organosilicones, and others. Out of these, in 2017, the alkoxylates division held more than 50.0% share in terms of in the market in terms of sales volume. Alkoxylates include alcohol ethoxylates, alcohol alkoxylates, alkyl octylphenol, and polyethoxylated derivates. Across the globe, alcohol-based alkoxylates are widely adopted for broadleaf weeds' treatment due to their non-ionic and non-reactive nature. Thus, owing to these benefits, the demand for alcohol-based alkoxylates is anticipated to rise during the forecast period.

Talking about the crop type, oilseeds and pulses, cereals and grains, and fruits and vegetables would be some of the categories of the market. Out of these, in 2017, the cereals and grains category dominated the market with nearly 45.0% share in terms of volume. Increasing global population and shrinking cultivable land are anticipated to create pressure on the farming community to maximize crop productivity, which in turn is expected to boost the usage of pesticides and adjuvants in the forecast period.

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Competitive Landscape for Agricultural Adjuvants Market

The agricultural adjuvants market is moderately consolidated in nature, and DowDuPont Inc., BASF SE, Akzo Nobel N.V., Solvay S.A., Clariant AG, and Croda International PLC are some of the major players manufacturing and commercializing such products.

In June 2017, Huntsman Corporation announced the appointment of Norman, Fox & Co. and Palmer Holland Inc. as exclusive distributors and representatives of its Performance Products division's agrochemical portfolio, in their respective territories in the U.S, a move which is aiding the company in expanding its distribution network.

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This release was published on openPR.