The agricultural adjuvants industry will grow at a decent rate due to the ever-increasing demand for better crop yield. The demand for food grains is increasing owing to population growth thus the product market growth rate is expected to propel in near future, Says this report.
Selbyville, Delaware, June 15, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global Agricultural Adjuvants Market was estimated at $2859.62 million in 2020 and is slated to exceed $3.9 billion by 2027, registering a CAGR of 5.2% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
The sulfonates segment will witness over 5% CAGR over the forecast timeframe. Adjuvants based on sulfonates are mainly used in acidifiers and buffers. In most of the developing countries decreasing groundwater level is of major concern as the water becomes more alkaline and when used with herbicides it degrades their properties. With such evolving issues, sulfonate-based adjuvants demand is expected to grow in developing nations over the forecast timeframe.
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Based on application, the insecticides industry will witness significant growth during the forecast period. The key factors driving the segment growth are growing crop losses due to insect attacks, reduction in per capita arable land, and advancements in agricultural technology & practices. In addition, increased global exports and crop failures due to pests are driving the global insecticides market.
The agricultural adjuvants market share from fruits & vegetables was valued at around USD 185 million in 2020. Fruits & vegetables are the most affected by pests, pathogens, and rodents. Farmers are now aware of adjuvants and their compatibility with herbicides & pesticides to procure pest-free products. Technological advancements and improving product acceptance by farmers across the globe will catapult the demand for agricultural adjuvants in fruit & vegetable application.
North America led by the U.S. will witness over 6% CAGR over the forecast timeframe. The region is one of the major consumers of agriculture adjuvants across the globe. Farmers in the U.S. are educated and aware of pesticides that are suitable for their crops. Improving trade regulations and increasing population result in the export of food grains from developed regions to deprived regions. All these factors will result in increased yields from farms and encourage farmers to utilize crop protection products. Such trends are expected to continue and will drive the agricultural adjuvants market growth in the near future.
The rising demand for better crop yield will drive the agricultural adjuvants market during the forecast spell. The demand has been increasing at a faster rate owing to the high population growth in developing regions such as the Asia Pacific and Latin America. For instance, the Asia Pacific population grew from 4.3 billion in 2013 to 4.5 billion in 2016 and is further expected to reach 9.9 billion by 2050.
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Major players focus on strategies such as mergers & acquisitions and expansion of global distribution networks to meet the growing demand. Some of the major manufacturers in the agricultural adjuvants industry are BASF, Dow DuPont, Solvay, Clariant AG, Evonik Industries, Akzo Nobel, Loveland Products Inc., and Wilbur-Ellis Company Inc., among others.
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