LONDON, Aug. 3, 2020 /PRNewswire/ -- According to a new
market 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',
the agricultural adjuvants market is expected to reach
$4.7 billion by 2027, at a CAGR of
5.7% during the forecast period of 2020 to 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.
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Generally, agricultural adjuvants are secondary products that
acts as a catalyst for agrochemicals and are usually used to
improve efficiency and facilitate the functions of agrochemicals,
such as herbicides, insecticides, fungicides, and other agents.
Adjuvants also perform several functions, such as to enhance the
wettability of the crop protection chemical and ensure its uniform
spread on the leaves, increase penetration in case of systemic crop
protection chemicals, and increase its compatibility with foliar
fertilizer sprays, among others.
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, application,
formulation, adoption stage, crop types, and geography. The study
also evaluates industry competitors and analyses the market at a
country level.
Impact of COVID-19 on the Agricultural Adjuvants
Market
The agricultural adjuvants market continues to be challenged by
the lockdowns, logistical disturbances, reduced productions, and
associated economic impacts of Covid-19. The global chemical and
agrochemical sector have been affected since the outset, primarily
in the U.S. and China, the world's
largest producers as well as consumers of agricultural adjuvants.
Moreover, this pandemic also hit hard the agricultural adjuvants
industry in Brazil, India and EU-5 countries. As a measure to
control the spread of this disease and avoid related severe
consequences, the governments on a global level have announced
partial or complete lockdowns, which has majorly impacted many
manufacturing and service industries, including crop protection
chemicals and other additives industry.
As the COVID-19 crisis grows, the manufacturers are quickly
changing their practice and purchasing priorities in order to meet
the required demand of a pandemic. Over couple of months, this
crisis has had a direct impact on the agricultural adjuvants
development rates as the chemical manufacturing units in many
countries have been disrupted, globally. Moreover, on a global
level, as the governments shut down their national and
international borders and economies for controlling the spread of
the coronavirus, the businesses observed major impacts on their
international trades. Many markets are focusing on fulfilling their
requirements for fertilizers, pesticides, and agricultural
adjuvants by domestic companies. This is, still, causing an
imbalance between the demand and supply quantities. Some regions
are completely or partially dependent on imports and are facing
tough situations. Adjuvants are majorly dependent on raw materials
such as vegetable oils and petroleum for their production. In
addition, the turbulences in the regular supply chain have caused
the companies to create new supply chains that are more expensive
and takes a lot more time to satisfy the need for catalysts in
different areas of the chemical industry. All these factors are
hindering the growth of this market.
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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, application,
formulation, adoption stage, crop types, and geography. The study
also evaluates industry competitors and analyses the market at a
country level.
Based on function, the activator adjuvants segment is estimated
to command the largest share of the overall agricultural adjuvants
market in 2020. The segment is also expected to witness rapid
growth during the forecast period. The largest share and the
fastest growth of the activator adjuvants segment is mainly due to
its high demand across the globe because of its ability to reduce
surface tension to increase contact area as well as to rain
fastness and increase solubilization and spray retention. Moreover,
this global agricultural activator adjuvants market is further
segmented into surfactants and oil adjuvants. The surfactants
segment is estimated to command the dominant share of the overall
agricultural activator adjuvants market in 2020, owing to the
factors such as growing adoption of the precision farming
practices, rising need to protect crops from insect pests and
infectious diseases, and necessity to enhance the droplet retention
characteristics of the pesticidal products because of the strict
environmental regulations.
Based on application, the herbicide application segment is
estimated to command the dominant share of the overall agricultural
adjuvants market in 2020. This segment is also expected to witness
rapid growth during the forecast period. The largest share and
the fastest growth of this segment is primarily attributed to
the huge demand for herbicidal products to protect the crop failure
due to weeds and to increase the agricultural production across the
globe. Moreover, the factors such as decreasing availability of
labor and consequent rise in cost of the laborers as well as
shortage of arable lands are also enhancing the demand for
herbicidal products, globally. Additionally, the global acceptance
of better agricultural practices as well as integrated pest
management technologies are further anticipated to increase the use
of adjuvants in herbicidal crop protection products.
Based on formulation, the suspension concentrate segment is
estimated to command the dominant share of the overall agricultural
adjuvants market in 2020, which is mainly attributed to its
growing demand due to wide range of benefits such as absence of
dust and small particle size of the active ingredients that
minimizes the environment risks; ease of use; and high
effectiveness.
Based on adoption stage, 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. However, the in-formulation segment is expected to grow
with the fastest CAGR during the forecast period. The fast growth
of this segment is primarily attributed to the growing consumer
preference for agrochemicals, which have direct application on the
crops and do not require any separate addition of chemicals.
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Based on crop type, the cereals and grains 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 the growing demand for cereals and grains with
rapidly growing population; huge area under cereals and grains
cultivation worldwide; and increase in the demand for crop
protection chemicals to protect cereals and grains crops from
insect pests and infectious diseases, thereby subsequently
increasing the demand for agricultural adjuvants.
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. The major share of this region is
mainly attributed to the factors such as continuous reduction in
the arable land, rapidly growing population, and increase in demand
for standard quality food. Moreover, the factors such as changing
agricultural practices, shortages of the agricultural labors,
increasing intensification including precision agriculture, high
rate of adoption of advanced farming technologies, growing
recognition of the environmental impact of agriculture, and growing
interest in sustainable production systems are further expected to
support the growth of this market in this region. 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.
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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Scope of the report:
Agricultural Adjuvants Market, by Function
- Activator Adjuvants
-
- Surfactants
- Oil Adjuvants
- Utility Adjuvants
-
- Compatibility Agents
- Buffers/Acidifiers
- Antifoam Agents
- Water Conditioning Agents
- Drift Control Agents
- Other
Agricultural Adjuvants Market, by Application
- Herbicides
- Insecticides
- Fungicides
- Other
Agricultural Adjuvants Market, by Formulation
- Suspension Concentrate
- Emulsifiable Concentrate
Agricultural Adjuvants Market, by Adoption Stage
Agricultural Adjuvants Market, by Crop Type
- Cereals and Grains
-
- Maize
- Rice
- Wheat
- Other Cereals and Grains
- Fruits and Vegetables
- Oilseeds and Pulses
- Other Crops
Agricultural Adjuvants Market, by Geography
- North America
-
- Europe
-
- France
- Germany
- Spain
- Italy
- Ukraine
- U.K.
- Rest of Europe
- Asia-Pacific (APAC)
-
- China
- India
- Australia
- Japan
- Malaysia
- RoAPAC
- Latin America
-
- Brazil
- Argentina
- Mexico
- RoLATAM
- Middle East and Africa
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