Feb 27, 2019   SOURCE: BusinessWire

Worldwide $3.7+ Billion Agricultural Adjuvants Market by Function, Chemical Group, Formulation, Application, Crop Type, and Geography - Forecast to 2023 - ResearchAndMarkets.com

The "Agricultural Adjuvants Market by Function, by Chemical Group, by Formulation, by Application, by Crop Type, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.

Agricultural adjuvants market is projected to reach $3,778.9 million by 2023, the market growth is driven by the increasing demand for agricultural adjuvants to improve pesticide efficacy and, thereby, crop yield.

On the basis of function, the agricultural adjuvants market is categorized into activator and utility adjuvants. Activator adjuvants held a larger market share in 2017, accounting for more than 65% in terms of the sales volume. This can be attributed to the advantages offered by these adjuvants, such as higher mobility and reduced surface tension and rainfastness. Moreover, certain activator adjuvants can perform functions of utility adjuvants.

Based on chemical group, the agricultural adjuvants market is categorized into alkoxylates, organosilicones, sulfonates, and others. In 2017, alkoxylates accounted for more than 50.0% market share in terms of volume. Alkoxylates are generally non-ionic in nature and, therefore, preferred for use in pesticide formulations for the treatment of broadleaf weeds. Owing to their non-ionic nature and growing application, the demand for these adjuvants is expected to increase during the forecast period.

The agricultural adjuvants market is also classified into built-in and tank-mix formulations. Of the two, built-in formulations accounted for more than 80% volume share in the market in 2017. Globally, agrochemical applicators and farmers prefer built-in formulations over tank-mix formulations due to their advantages, such as low cost, ease of application, and negligible chances of improper mixing.

Agricultural adjuvants find major application in insecticides, fungicides, herbicides, and others. In terms of volume, herbicides accounted for the largest share in the agricultural adjuvants market in 2017. Herbicides have wide application in cereals and broadleaf crops. Moreover, they are compatible with a wide range of adjuvants and help increase the crop yield.

On the basis of crop type, the agricultural adjuvants market is classified into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. In 2017, cereals and grains held the largest market share in terms of volume, accounting for nearly 45%. With shrinking arable land and increasing population, there is an increased pressure to maximize crop yield from existing farmlands and agricultural installations. This increasing demand for food grains is expected to drive the market growth during the forecast period.

Globally, the agricultural adjuvants market is expected to witness the fastest growth in APAC, with 6.2% CAGR during the forecast period. This growth can be majorly attributed to the presence of emerging economies, such as India and China, in the region. Additionally, the growing penetration of adjuvants and the introduction of novel, low-cost products are expected to drive the growth of the APAC agricultural adjuvants market in the near future.

Market Dynamics

Trends

  • Shift in Preference from Chemically Synthesized Adjuvants to Environment-Friendly Agricultural Adjuvants

Drivers

  • Population Growth and Increasing Food Demand
  • Increasing Demand for Agrochemicals to Improve Yield & Productivity
  • Increasing Investments in the Agricultural Sector

Restraints

  • Stringent Regulations on the Manufacturing of Agricultural Adjuvants

Opportunities

  • Increasing Demand for Agricultural Adjuvants in Emerging Economies

Companies Profiled

  • AkzoNobel N.V.
  • Brandt Consolidated Inc.
  • Wilbur-Ellis Holdings Inc.
  • Stepan Company
  • Solvay S.A.
  • DowDuPont Inc.
  • Evonik Industries AG
  • Huntsman Corporation
  • BASF SE
  • Croda International PLC
  • Clariant AG
  • Helena Agri-Enterprises LLC

For more information about this report visit https://www.researchandmarkets.com/research/nwmrpc/worldwide_3_7?w=4