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Valued at $2,777.6 million in 2017, the global agricultural adjuvants market is projected to surpass $3,778.9 million by 2023, witnessing a CAGR of 5.3% during 2018–2023 (forecast period). Among all regions, Asia-Pacific (APAC) is expected to witness the fastest growth during the forecast period.
The growing population and corresponding increase in food demand in the APAC region are expected to increase the application rate of agrochemicals, for improving the yield. Furthermore, regulatory and monetary support by state and central governments and investments by the government and private players are expected to further improve the purchasing capabilities of local farmers, to adopt agrochemical formulations and enhance their crop yield.
Dynamics of Agricultural Adjuvants Market
The growing consumer preference for environment-friendly agricultural adjuvants, over chemically synthesized variants, has been identified as a key trend in the agricultural adjuvants market. Generally, adjuvants are synthesized using chemicals, such as alkoxylates, sulfonates, organosilicons, amines, and their derivatives. Recent studies have found that these chemicals have a toxic nature and non-environment-friendly behavior, which has raised concerns and generated interest in bio-based adjuvants.
The increasing demand for agrochemicals to improve the yield is the major factor driving the growth of the agricultural adjuvants market. According to the Food and Agriculture Organization (FAO), a United Nations agency, the global arable land reduced by nearly 0.8 million square kilometers during 2000–2015. This shrinking cultivable land and increasing demand for food are creating the need for the optimum utilization of the existing farmlands. This is leading to advancements in technology and the use of agrochemicals, to maximize the output from the existing farmlands.
Emerging economies, such as China, India, and Brazil, hold a huge growth potential for the agricultural adjuvants market. This can be mainly attributed to the government and private investments in agricultural equipment and technologies. Aimed at achieving high-quality yield from the limited arable land, these investments are expected to boost the market for agrochemicals and crop protectants in these countries.
Segmentation Analysis of Agricultural Adjuvants Market
Activator adjuvants dominated the agricultural adjuvants market, accounting for revenue of over $1,850.0 million in 2017, in terms of function. This is mainly attributed to their ability to provide reduced surface tension and rainfastness and increased solubilization and spray retention.
Alkoxylate-based adjuvants generated the highest revenue in the agricultural adjuvants market, on the basis of chemical group, and these are predicted to hold over 60.0% shareby 2023. These products are majorly employed due to their non-ionic and non-reactive nature and a wide application base, in terms of the crop.
Faster growth in the agricultural adjuvants market during the forecast period is expected from tank-mix formulations. This is mainly attributed to their ability to improve the compatibility and performance of agrochemicals on plant surfaces.
The fungicides category, by application, is expected to exhibit the fastest growth in the agricultural adjuvants market during the forecast period (2018–2023). The growth would be due to adjuvants’ properties to prevent infection by fungal pathogens, by creating a barrier on the surface of the host plant.
Cereals and grains held the largest share in the agricultural adjuvants market, of almost 50.0%, in 2017. This was mainly owing to the high-volume demand for food grains, primarily cereals, across the world.
Global Scenario of Agricultural Adjuvants Market
Globally, North America was the largest market for agricultural adjuvants during the historical period (2013–2017), and it is expected to maintain its position during the forecast period. The market growth in the region is driven by a host of factors, including the presence of a large number of established manufacturers, high degree of product differentiation, extensive product knowledge among consumers, and rapid adoption by farmers and other agrochemical applicators. The U.S. is expected to lead the North American agricultural adjuvants market, generating revenue worth $1,054.8 million in 2023. This is attributed to the low level of opposition by proponents, to regularize and develop any state-wide and federal regulation for the application of agricultural adjuvants, in the future.
Competitive Landscape of Agricultural Adjuvants Market
The agricultural adjuvants market is moderately consolidated and characterized by the presence of major established companies, such as DowDuPont Inc., BASF SE, Akzo Nobel N.V., Solvay S.A., Clariant AG, and Croda International PLC.
Evonik Industries AG, Huntsman Corporation, Brandt Consolidated Inc., Wilbur-Ellis Holdings Inc., Stepan Company, and Helena Agri-Enterprises LLC are some of the other important players operating in the agricultural adjuvants market.
Recent Strategic Developments of Major Agricultural Adjuvants Market Players
In recent years, the major players in the global agricultural adjuvants market have taken several strategic measures, such as product launches and geographical expansions, to gain a competitive edge in the industry. For instance, in June 2016, Clariant AG announced the launch of Synergen ME, a tank-mix adjuvant blend, comprising renewable ammonium sulfate, methylated seed oil, and selected surfactants, to boost the effectiveness of herbicides. The product is an extension of the company’s portfolio of environment-friendly and biodegradable products.
Moreover, in November 2016, Evonik Industries AG announced the launch of BREAK THRU DA 647, a modified polyether, which can act as a non-ionic wetting agent, milling agent, and dispersant, for suspension concentrates (SCs), suspended emulsions (SEs), oil dispersions (ODs), and water-dispersible-granule (WDG)-based formulations. The product helps improve the pesticide uptake and increases the stability and efficacy of pesticide formulations.
Market Size Breakdown by Segment
The Agricultural Adjuvants Market report offers comprehensive market segmentation analysis along with market estimation for the period 2013–2023.
Based on Function
Based on Chemical Group
Based on Formulation
Based on Application
Based on Crop Type