Meticulous Research® – leading global market research company published a research report titled “Agricultural Adjuvants Market by Function (Activator, Utility), Application (Herbicide, Insecticide, Fungicide), Formulation (Suspension and Emulsifiable Concentrates), Adoption Stage (Tank-Mix, In-Formulation), and Crop Type – Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the agricultural adjuvants market is expected to grow at a CAGR of 5.7% from 2020 to 2027 to reach $4.7 billion by 2027. Also, in terms of volume, the agricultural adjuvants market is expected to grow at a CAGR of 7.3% from 2020 to 2027 to reach 440.1 KT by 2027. This market is majorly driven by the factors such as growing food demand and shrinking arable land, increasing demand for agrochemicals, increasing adoption of precision farming methods, and growing need to limit pesticide wastage. In addition, the growing use of adjuvants for biological products, rising consumer preference for environment-friendly agricultural adjuvants, and drift potential of the unmanned aerial vehicles (UAVs) with adjuvants in aerial applications are the factors that expected to provide significant growth opportunities to the manufacturers in the overall agricultural adjuvants market. However, the stringent regulations to manufacture adjuvants and lack of awareness about the product are expected to hinder the growth of the agricultural adjuvants market to some extent.
The global agricultural adjuvants market study presents historical market data in terms of value and volume (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of function (activator adjuvants and utility adjuvants), application (herbicide, insecticide, fungicide, and other), formulation (suspension concentrate and emulsifiable concentrates), adoption stage (tank-mix and in-formulation), crop type (cereals & grains, fruits & vegetables, oilseeds and pulses, and other crops), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The study also evaluates industry competitors and analyses the market at a country level.
Based on function, the overall agricultural adjuvants market is mainly segmented into activator adjuvants and utility adjuvants. The activator adjuvants segment is estimated to command the dominant share of the overall agricultural adjuvants market in 2020. The dominant position of this segment is mainly attributed to growing demand because of its capability to reduce surface tension to enhance contact area as well as to rain fastness and increase solubilization and spray retention.
Based on application, the agricultural adjuvants market is mainly segmented into herbicides, insecticides, fungicides, and other applications. The herbicide application segment is estimated to command the largest share of the overall agricultural adjuvants market in 2020. The large share of this segment is mainly attributed to the factors such as growing demand for herbicidal products, better agricultural practices as well as integrated pest management technologies, and decreasing availability of labors.
Based on adoption stage, the overall agricultural adjuvants market is mainly segmented into tank mix and in-formulation. The tank mix segment is estimated to command the largest share of the overall agricultural adjuvants market in 2020. The large share of this segment is mainly attributed to its high adoption because of its capability to improve the compatibility and performance of agrochemicals on plant surfaces.
Geographically, North America region is estimated to command the largest share of the global agricultural adjuvants market in 2020, followed by Asia Pacific and Europe. However, the Asia Pacific region is projected to grow at a significant pace in the next few years. The fast growth of this region is mainly attributed to the factors such as rising demand for crop protection chemicals, presence of developing countries with vast agricultural lands, increasing demand for food crops and limited availability of arable land, increasing incidences of the pests, and growing consumer preference for environment-friendly agricultural adjuvants due to growing organic farming in Australia and other countries.
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Some of the key players operating in the global agricultural adjuvants market are BASF SE (Germany), Nutrien Ltd. (Canada), Evonik Industries AG. (Germany), Solvay S.A. (Belgium), Nufarm Limited (Australia), Helena Agri-Enterprises LLC (U.S.), Nouryon (The Netherlands), Stepan Company (U.S.), Croda International Plc (U.K.), Brandt Consolidated, Inc. (U.S.), Wilbur-Ellis Holdings, Inc. (U.S.), INNVICTIS Crop Care, LLC (U.S.), Miller Chemical & Fertilizer, LLC.(U.S.), KALO, Inc. (U.S.), Corteva Agriscience Inc. (U.S.), and Precision Laboratories Inc (U.S.) among others.
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