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Pesticide Inert Ingredients Market Size Forecast: $7.31 Billion by 2029 | Global Outlook
Pesticide Inert Ingredients Market
What Is the Projected Market Size Valuation of the Pesticide Inert Ingredients Market by 2025?
Over the past few years, the market size for pesticide inert ingredients has shown significant growth. It is projected to expand from a value of $5.18 billion in 2024 to an estimated $5.48 billion in 2025, displaying a compound annual growth rate (CAGR) of 5.7%. The prime factors behind the striking growth in the historic period include a boost in agricultural productivity demands, the growth of the agrochemical industry, management of pesticide resistance, respect for regulatory guidelines and safety norms, and an emphasis on the environmental footprint.
What Is the Estimated Market Growth Value for the Pesticide Inert Ingredients Industry in 2029?
The market for pesticide inert ingredients is predicted to experience robust growth in the coming years, with a projected worth of $7.31 billion by 2029, developing at a compound annual growth rate (CAGR) of 7.5%. The expansion during the forecast period can be ascribed to the advent of precision agriculture, an emphasis on biorational pesticides, the need for microbial pesticides, tougher environmental guidelines, strategies for adapting to climate change, and the customer preference for organic products. Key trends for the forecast period comprise customization for precision agriculture, the application of nanotechnology in formulations, multiple-function inert ingredients, global cooperation for research and development, and the incorporation of biotechnology.
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What Are the Growth Drivers and Opportunities in the Pesticide Inert Ingredients Market?
The continued increase in pesticide usage is predicted to fuel the growth of the pesticide inert ingredients market. Pesticides, defined as substances that eradicate, prevent, diminish, or deter pests, are mixed with a variety of inert ingredients to create pesticide products that have a longer shelf life. As the Food and Agriculture Organization, a government agency in the US, reported in July 2024, there was a 3.70 million tonnes (Mt) total agricultural use of pesticides in 2022. This was a 4% rise compared to 2021. Consequently, the ongoing popularity of pesticides is likely to boost the pesticide inert ingredients market.
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What Are the Primary Segments Covered in the Global Pesticide Inert Ingredients Market Report?
The pesticide inert ingredients market covered in this report is segmented -
1) By Type: Emulsifiers, Solvents, Carriers, Other Types
2) By Source: Synthetic, Bio-based
3) By Form: Dry, Liquid, Other Forms
4) By Pesticide Types: Insecticides, Herbicides, Fungicides, Rodenticides, Other Pesticide Types
Subsegments:
1) By Emulsifiers: Non-Ionic Emulsifiers, Anionic Emulsifiers, Cationic Emulsifiers, Polymer Emulsifiers
2) By Solvents: Organic Solvents, Inorganic Solvents, Bio-based Solvents, Aromatic Solvents
3) By Carriers: Liquid Carriers, Solid Carriers, Aqueous Carriers, Granular Carriers
4) By Other Types: Stabilizers, Surfactants, Thickeners, Antifoaming Agents
What Are the Top Growth Trends in the Pesticide Inert Ingredients Market?
Leading players in the pesticide inert ingredient market are focusing their efforts on creating groundbreaking products like crop protection solutions to enhance agricultural productivity and minimize environmental harm. Crop protection solutions encompass a range of products and practices aimed at protecting crops from pests, diseases, and weed infestations, promoting plant health and increased yield. For instance, FMC Corporation, a chemical manufacturing company based in the United States, unveiled Velzo fungicide, Vayobel herbicide, and Ambriva herbicide in August 2024. FMC's goal is to aid farmers in battling diseases and weeds in crops such as fruits, vegetables, paddy, and wheat. This initiative underlines FMC's commitment to sustainable agricultural practices and innovation, customized to the needs of local farmers.
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Which Companies Are Shaping the Future of the Pesticide Inert Ingredients Market?
Major companies operating in the pesticide inert ingredients market include BASF SE, Clariant Specialty Chemicals, Croda International plc, DowDuPont Inc., Eastman Chemical Company, Huntsman International LLC, Solvay SA, Stepan Company, Evonik Industries AG, Akzo Nobel NV, Chromatech Inc., Parry America Inc., 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, Aceto Agricultural Chemicals Corporation, Bayer AG, ABC Compounding Co. Inc., Syngenta AG
Which Region Holds the Largest Market Share in the Pesticide Inert Ingredients Industry?
North America was the largest region in the pesticide inert ingredients market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global pesticide inert ingredients market during the forecast period. The regions covered in the pesticide inert ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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