Based on application, the agricultural adjuvant market is segmented into herbicides, insecticides, fungicides and others.
The Agricultural Adjuvants Market is set to grow from its current market value of more than $2 billion to over $3 billion by 2025; as reported in the latest study by Global Market Insights, Inc.
Rising demand for sustainable crop protection products will be the key growth enabler for the agricultural adjuvants market. New regulations such as National Action Plan by the member states of EU would promote a sustainable use of crop protectants in the farming sector. Between 2012 and 2014, the UN estimated that around 805 million people suffered from hunger. Out of which a large proportion of people resided in the developing regions. Food safety conscious population and rising uncertainties in climate are further increasing the demand for sustainable method of farming which would boost the growth in the market.
The use of fertilizers or other crop protection products help in reducing the possibilities of crop failure. Optimized use of other resources can also help in sustainable land management. These products could help in achieving the goal of sustainable farming by producing high yield with limited resources. Rising research & development activities in the agricultural adjuvants market could further help in making products that are less harmful for the environment.
Agricultural utility adjuvant is a significant product type in the market. This segment is likely to generate revenue exceeding USD 1 billion by 2025. Compatibility agents are majorly used in liquid fertilizers whereas acidifiers are used in herbicide spray mixtures which helps in reducing the pH of the solution. This segment is likely to attain a CAGR of approximately 4% in terms of revenue during the forecast period.
Organosilicone is a key chemical group segment in the agricultural adjuvants market. They are nonionic surfactants which has no ionic charge, are hydrophilic and biodegradable in nature. These are well-suited with a variety of agrochemicals. They help in reducing surface tension until herbicide droplets form a thin layer over the leaf surface which promotes the penetration into stomatal openings of the leaf surface. This segment is likely to generate a revenue of about USD 500 million by 2025.
Oilseeds & pulses are a significant crop type segment of the agricultural adjuvants market. This segment is further sub divided into soybean and others. This segment is likely to achieve a CAGR around 5% in terms of volume during the forecast period.
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Fungicide is an important application segment which is likely to grow by around5% in terms of volume from 2018 to 2025. The product increases the efficiency of fungicides which help in eradicating spores and other fungal infection.
North America agricultural adjuvants market value is likely to reach around USD 800 million by 2025. Significant volumes of herbicides and insecticide distribution in the U.S. and Canada will propel the regional market growth. Rising awareness among farmers about the benefits of using the product in the farming sector would drive the market growth during the forecast period. Availability of various product types in market for different crops makes it a more reliable option for the farmers of a mature market.
Some key product manufacturing companies in the market include Clariant, Brenntag North America, Solvay, Alzchem, Evonik, WinField Solutions, Dow Dupont, and Huntsman.