According to a new research study published by Global Market Insights Inc., the Agricultural Adjuvants Market size is expected to reach USD 3.9 billion by the end of 2027. Increasing demand for agrochemicals, food & shrinking arable land, increasing popularity of precision agriculture practices, and increasing demand to limit pesticide wastes are all key factors propel the industry growth.
The outbreak of COVID-19 has brought serious economic problems and challenges to the agriculture industry. Since the outbreak of the pandemic, most of the manufacturers are unable to meet their requirements, i.e., the demand and supply quantities, for pesticides, fertilizers, and adjuvants.
In developing nations, the industry faces challenges such as limited product awareness and knowledge on the effective usage & compatibility of the products with different pesticides. With various governments taking initiatives and improving farming methods in developing economies, the agricultural adjuvants market growth rate is expected to propel in the near future.
Browse key industry insights spread across 390 pages with 551 market data tables & 21 figures & charts from the report, “Agricultural Adjuvants Market By Product (Activator, Utility), By Chemical Group (Alkoxylates, Sulfonates, Organosilicon), By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), By Application (Herbicides, Insecticides, Fungicides), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing demand for food grains to drive utility segment growth
The utility segment will witness over 4.5% CAGR through 2027. Utility adjuvants are used to improve the application of formulations. For large farm applications, these are used for better coverage. Increasing demand for food grains forces farmers to protect their yield from damage and, in turn, it provides cost-effectiveness to them by reducing the amount of pesticides used. Such trends and properties will increase the demand for adjuvants for agricultural purposes.
The chemical group segment consists of various compounds through which agriculture adjuvants are formulated. Organosilicon holds over 25% share in agricultural adjuvants industry. The widespread use of organosilicon compounds has made a great contribution to the elimination of agricultural toxicity and pollution. Some of the major properties driving the growth of organosilicon include excellent permeability, super scalability, and good wettability.
In terms of crops, oilseeds & pulses will witness significant growth during the forecast period. The most important oilseeds in the world are soybean, sunflower, cabbage, rapeseed, coconut, oil palm, peanut, rice, and cotton. The search for high-quality plant-based protein for the vegan population will propel the growth of oilseeds and pulses
Based on application, agricultural adjuvants market from fungicides will witness around 5% CAGR during the forecast period. Fungi are a major problem to crops in tropical countries. Unseasonal rains result in the development of fungi on crops such as cotton, wheat, etc. To protect crops, the usage of adjuvants is a must. The environment is changing rapidly, and farmers are now finding alternatives to protect their crops. Adjuvants are the best alternative for the abovementioned factors and this trend is expected to boost product usage in the coming years.
Europe will promote the market expansion
Europe was valued at over USD 575 million in 2020. Farming methods and technologies adopted in the region are far more advanced than many other countries that are still agricultural-intensive. In Europe, the majority of the crops are grown for commercial purposes. The growing demand for sustainable planting methods is driving regional market growth.
Some of the major manufacturers in agricultural adjuvants industry are BASF SE, Dow DuPont Inc., Solvay SA, Clariant A.G, Evonik Industries AG, Akzo Nobel, Loveland Products Inc., and Wilbur-Ellis Company Inc., among others.