Pesticide Inert Ingredients Market Share, Growth Factors And Key Trends Report 2033

The Business Research Company recently released a comprehensive report on the Global Pesticide Inert Ingredients Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The pesticide inert ingredients market size has grown strongly in recent years. It will grow from $4.83 billion in 2023 to $5.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased agricultural productivity demands, expansion of agrochemical industry, pesticide resistance management, regulatory compliance and safety standards, focus on environmental impact.

The pesticide inert ingredients market size is expected to see strong growth in the next few years. It will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to emergence of precision agriculture, focus on biorational pesticides, demand for microbial pesticides, stricter environmental regulations, climate change adaptation strategies, consumer demand for organic products. Major trends in the forecast period include customization for precision agriculture, nanotechnology in formulations, inert ingredients with multiple functions, global collaboration for research and development, integration of biotechnology.

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Market Drivers and Trends:

Growing adoption of pesticides is expected to propel the growth of the pesticide inert ingredients market going forward. Pesticides can be defined as a substance that is used for killing, preventing, reducing, or repelling various pests. Pesticide-inert ingredients are combined with various active ingredients to make pesticides which are used to extend the shelf life of pesticide products. For instance, in July 2022, according to a report published by the Food and Agriculture Organization, an Italy-Based organization of the United Nations, total pesticides used globally in 2021 were approximately 3.54 million metric tons, which is a 4% from 2.7 million metric tons in 2020. Therefore, the growing adoption of pesticides will drive the pesticide inert ingredients market.

Technological advancements are a key trend in the pesticide inert ingredient market. Major companies in the pesticide inert ingredients market are focused on developing innovative technologies to sustain their position in the market. For instance, in November 2021, Syngenta AG, a Switzerland-based agrichemical company, launched a new technology, PLINAZOLIN, which is an active pesticide ingredient with an innovative mode of action for effective insect control. PLINAZOLIN technology will offer insect control on stinkbugs, mites, thrips, caterpillars, flies, and beetles for more than 40 different crops, including cotton, soybean, corn, rice, coffee, and a variety of fruits and vegetables. The technology may also be applied as a seed treatment and in forestry and professional pest management programs. This new technology will set a new standard of performance and protect the crops from various pests.

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Major Key Players of the Market:

BASF SE; Clariant Specialty Chemicals; Croda International plc; DowDuPont Inc.; Eastman Chemical Company; Huntsman International LLC; LyondellBasell Industries Holdings B.V.; Solvay SA; Stepan Company; Evonik Industries AG; Akzo Nobel NV; Shell plc; Chromatech Inc.; Parry America Inc.; Royal Dutch Shell plc; Avril Group Scr; Kao Corporation; Lonza Group Ltd.; Innospec Inc.; Ashland Global Holdings Inc.; Vertellus Holdings LLC; Pilot Chemical Corp.; Innophos Holdings Inc.; Fina Oleochemicals; 3M Company; Abbott Laboratories; Aceto Agricultural Chemicals Corporation; Bayer AG; ABC Compounding Co. Inc.; Syngenta AG

Pesticide Inert Ingredients Market 2024 Key Insights:

• The pesticide inert ingredients market will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Rising Pesticide Adoption Fuels Growth In Pesticide Inert Ingredients Market
• Technological Advancements Transforming The Landscape Of Pesticide Inert Ingredient Market
• North America was the largest region in the pesticide inert ingredients market in 2023

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