By 2025, Agricultural Adjuvants Market size will grow at a CAGR of over 4.5% | By key players Huntsman Corporation, Dow DuPont Inc., BASF SE, Solvay S.A, Clariant AG, Evonik Industries AG
Dow DuPont Inc., BASF SE, Solvay S.A., Clariant AG, Evonik Industries AG, Huntsman Corporation, Akzo Nobel, Brandt Consolidated, Inc., Momentive Performance Materials Inc., Wilbur-Ellis Company Inc., Loveland Products, Inc.
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The demand for plant protection products in countries like Bangladesh, India, and Vietnam has surged considerably in recent years. Ever-increasing population across developing economies has forced farmers to produce large quantities of high-quality yields. Citing population growth, in 2016, population in APAC was reported to climb 4.5 billion from 4.3 billion in 2013.
These figures are further projected to touch 5.3 billion by the year 2024. With such trends, Global Market Insights, Inc., suggests that the agricultural adjuvants market size could surpass USD 3 billion by 2025.
The North America agricultural adjuvants market would be witnessing unprecedented growth over 2018-2025, driven by the considerable volumes of insecticides & herbicides distributed across Canada & the United States. The growing level of awareness among the region’s farmers regarding the benefits of utilizing the products in the agriculture sector would also be driving the growth of the North America agricultural adjuvants market.
Powered by the availability of a plethora of product types specifically designed for different crops, North American agricultural adjuvants market size is projected to cross $800 million by 2025.
Agricultural adjuvants primarily find applications in insecticides, fungicides, and herbicides. As per estimates, herbicides are expected to account for more than 50% of the agricultural adjuvants market size by 2025, given that agricultural adjuvants are commonly used in POST applications in order to help overcome leaf surface barriers and help facilitate herbicide movement into the leaf cells. Adjuvants are also known to enhance herbicide spreading, wetting, leaf & canopy adhesion & penetration, further expediting the agricultural adjuvants market size from herbicides.
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Another application that is likely to emerge prominent is that of fungicides. Reports claim that agricultural adjuvants market share from fungicides will register a CAGR of 5% over 2018-2025, powered by the fact that adjuvants help enhance the efficiency of fungicides.
Considering regional share, Asia Pacific agricultural adjuvants market is considered to become a major revenue ground in the coming years. The region houses almost 60% of the world population. Climatic conditions in APAC are ideal for most types of crops like rice, wheat, and sugarcane. This could massively boost the adoption of agricultural adjuvants, aiding APAC market volume to exceed 170-kilo tons over the predicted timeframe.
Currently, Dow Dupont, Clariant, Evonik, BASF SE, Huntsman, among others are at the forefront of agricultural adjuvants market.
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