The global agricultural adjuvant market is driven by increasing demand for efficient farming practices, along with the popularity of precision farming.
According to the latest report by IMARC Group, titled "Agricultural Adjuvants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global agricultural adjuvant market size reached US$ 3 Billion in 2018. Agricultural adjuvants are agents that are used to enhance the efficiency of pesticides, such as fungicides, herbicides, and insecticides. Some of the most common ingredients included in adjuvants are surfactants, oils, salts and emulsifiers. They are known to modify the properties of the spray solution to control or eliminate unwanted pests and plant disease by improving the ability of the pesticide to penetrate and protect the target organism. Agricultural adjuvants are also utilized for boosting properties such as spreading, adhesion, penetration, droplet size and the wettability of spray droplets. This can further aid in the penetration of the active ingredient into the target species, which improves the herbicide activity and pesticide absorption into plant cells while minimizing herbicide photo-degradation. These additives can be directly added to the spray tank or incorporated in the formulation along with a pesticide.
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Global Agricultural Adjuvant Market Trends:
Agricultural adjuvants are utilized for improving crop productivity. An increase in the demand for efficient agricultural practices to meet the global demand for food has impelled the uptake of these agents. In addition to this, the emerging trend of precision farming, which extensively utilizes adjuvants, is contributing to the market growth. Apart from this, the growing demand for eco-friendly products has provided an impetus to the demand for bio-based adjuvants, which are safe and biodegradable in nature. Furthermore, governments of several countries are focusing on sustainable development, which in turn, is propelling the demand for naturally derived adjuvants. On account of the aforementioned factors, the market is projected to reach a value of US$ 4 Billion by 2024, exhibiting a CAGR of 5.4% during 2019-2024.
Insights on Market Segmentation:
Market Breakup by Type:
1. Activator Adjuvant
2. Utility Adjuvant
On the basis of the type, the market has been bifurcated into activator and utility adjuvants. Amongst these, activator adjuvant accounts for the majority of the total market share.
Market Breakup by Crop Type:
1. Cereals & Oilseeds
2. Fruits & Vegetables
Based on the crop type, the market has been categorized into cereals and oilseeds, fruits and vegetables, and others.
Market Breakup by Application:
On the basis of the application, herbicides exhibit a clear dominance in the market. Other major segments include fungicides and insecticides.
Market Breakup by Region:
1. North America
3. Asia Pacific
4. Latin America
5. Middle East and Africa
On the geographical front, North America holds the leading position in the market. Other major regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.
The competitive landscape of the market has been studied with the detailed profiles of the key players. Some of the major players operating in the market include Akzo Nobel N.V., Croda International Plc, Corteva Agriscience, Evonik Industries AG, Solvay SA, Huntsman International LLC, Nufarm Limited, Helena Agri-Enterprises, LLC, Wilbur-Ellis Holdings, Inc., and Brandt Consolidated, Inc.
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