North America and Europe Cover the Maximum Share in the Market
The two largest markets for agricultural adjuvants are in North America and Europe. These two regions account for the maximum share in the global market. Governments in these two regions have formulated strict regulations and guidelines on use of crop protection chemicals and to protect the environment. This, in turn, will help to protect the environment from hazardous chemicals, in turn driving the market. Activator adjuvants are increasingly penetrating in North America and Europe. This, coupled with the recent introduction of cost-effective and novel products, is expected to create growth opportunities for the market in the forecast years. Growing awareness about modern agricultural procedures, especially in North America is enabling growth in the market.
The global agricultural adjuvants market is gaining momentum from the rising adoption of protective crop cultivation measures. According to a report, published by Fortune Business Insights, titled, “AGRICULTURAL ADJUVANTS: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2015-2026” the increasing demand for crop protection chemicals is driving the market. Moreover, the global market is anticipated to rise at a CAGR of 5.77% between 2015 and 2026. In 2015, the market was valued at US$ 2.893 Bn and the report suggests that the global market is likely to reach US$ 4.55 Bn by 2026.
Other regions such as Asia Pacific and South America are expected to register strong growth potential in the forecast horizon. Rising use of crop protection chemicals is the chief factors driving the market in these regions. Crop farmers and farmers are becoming more aware of the benefits offered by using agricultural chemical adjuvants. This is further expected to spur growth in the market and increase demand for adjuvants with spray chemicals in these two regions.
Adjuvants Help to Improve the Agrochemical Efficiency, thus Promoting Sustainability
Agricultural adjuvant chemicals are added to pesticides by users with an aim to enhance pesticide efficiency, as per the U.S. Environmental Protection Agency (EPA). The growing importance and need for precision farming is acting as a potential growth enabler to the market. With precision farming, farmers can use agricultural adjuvants to implement agrochemical applications. Use of surfactants, emulsifiers, and oils will help in the effective use of crop protection chemicals, which is expected to push the market’s growth. Recent technological improvements in cultivation crops will aid the expansion of the overall market. Furthermore, farmers around the world have become well aware of advanced farming techniques to protect their crops and enhance crop yield. This is expected to augment demand for agricultural adjuvants over the years to come.
Rising population is compelling farmers and crop producers to use adjuvants and pesticides. As per the UN Department of Economic and Social Affairs, the global population is estimated to reach approx. 9.8 billion by 2050 from 7.6 billion in the year 2017. This exponential rise in population will fuel demand for crops. This, coupled with the rising focus towards sustainable agriculture, will contribute to the expansion of the agricultural adjuvants market.
Product Innovations to Push the Market Growth
In July 2018, Sapec Agro Business acquires SDP with an aim to enter the adjuvant sector. The company further plans to strengthen its position especially in specialty crop nutrition across various markets. In August 2018, Brandt announced the launch of an innovative adjuvant called TriTek. This insecticide adhesive will provide additional nutrients and strengthen to plants.
Some of the companies that are currently leading the global agricultural adjuvants market are Solvay, Evonik, BASF, Clariant, Croda International, DowDuPont, and AkzoNobel. Several new companies are planning to foray into the market, which will intensify the competition.
