Newark, July 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 3.91 billion in 2023 global agricultural adjuvants market will reach USD 6.25 billion by 2033. Upgrading adjuvant combinations in which individual components bring on one or more additional effects – besides augmentation of the formulation's spreading, adhesion, and rain-independence – opens up opportunities for product improvement. The adjuvant manufacturers can have a unique opportunity to develop new formulations of the adjuvants to meet some of the challenges associated with crop protection and increase their effectiveness. Besides, as part of the digital agriculture concept, new neuromorphic adjuvants for better performance of pesticide treatments have introduced possibilities. Using smart adjuvants with sensing capability, analytics, and decision support capabilities helps improve the spraying process by offering real-time information about the environment and appropriate recommendations. Furthermore, there is scope for developing bio-based and renewable materials in adjuvants, thus contributing to advancing the field of sustainable and climate-friendly products. Bio-based availability on renewable feedstocks is a selling point due to properties that include biodegradability, low toxicity, and compatibility with bio-pesticides; opportunities in this segment are evident.
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Key Insight of the global Agricultural Adjuvants market
Asia Pacific is expected to witness the highest market growth over the forecast period.
Asia Pacific is an enormous region with various agroclimatic zones, from the tropical to the temperate zones, suitable for producing various crops. Several crops and cropping patterns have unique needs for adjuvants; therefore, the needs for adjuvant products differ within a similar region. Moreover, increased market liberalization and trade integration of the Asia Pacific has eased the transportation of agrochemical products, including adjuvants, across the borders. Results have also shown that free trade agreements and regional cooperation have created market growth in the agricultural adjuvants industry. Most importantly, with growing concern towards the environmental impact and the need to produce higher yields to meet the region's food demands, farmers are focusing more on crop defence and enhancing crop yield. Therefore, adjuvants have been deemed important for enhancing the efficacy of the agrochemicals required for efficient farming activities in the region.
In 2023, the activator adjuvants segment dominated the market with the largest share of 71.35% and revenue of 2.79 billion.
The type segment is divided into activator adjuvants and utility adjuvants. In 2023, activator adjuvants segment dominated the market with the largest share of 71.35% and revenue of 2.79 billion.
In 2023, the herbicides segment dominated the market with the largest share of 47.51% and revenue of 1.86 billion.
The application segment is classified into fungicides, herbicides, insecticides and others. In 2023, the herbicides segment dominated the market with the largest share of 47.51% and revenue of 1.86 billion.
In 2023, the cereals & grains segment dominated the market with the largest share of 48.16% and revenue of 1.88 billion.
The crop segment includes cereals & grains, fruits & vegetables, oilseeds & pulses, and others. In 2023, the cereals & grains segment dominated the market with the largest share of 48.16% and revenue of 1.88 billion.
Advancement in market
In May 2024: Thus, global agricultural sciences giant FMC Corporation has signed a new research collaboration agreement with AgroSpheres, a groundbreaking Agtech innovator in crop protection and health. This partnership will help accelerate the search and development of other new bioinsecticides and dovetail with FMC's overriding corporate goal.
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Market Dynamics
Driver: Advancements in formulation technologies.
New developments in formulation technologies are also helping transform the agricultural adjuvants industry. Another is the compatibility of the new adjuvants with different agrochemical formulations described above. Readily biodegradable and non-injurious, they can present compatibility problems among themselves and with pesticide treatments and hence hinder proper farmer applications and or result in crop damage. However, the formulation technology that has entered a new age has eliminated such problems by making the adjuvants compatible with different pesticide formulations, including herbicides, insecticides, and fungicides. This enhanced compatibility facilitates the functionality of the crop protection system to the greatest potentiality, further escalating the yield and effectiveness against pests, thus benefitting the farmers. There has also been major progress in stability, another important attribute of adjuvant formulation. Many adjuvants experience rigorous environmental conditions during storage and use and may be affected by changes in temperature, ultraviolet rays, and levels of acidity and alkalinity. New technologies aim to improve the stability of adjuvants and ensure that they can be effective and perform well under different conditions, eliminating these issues. This aspect makes the adjuvant products last longer, reduces the challenges encountered while storing or handling the chemical, and boosts its reliability. Also, research on formulation continuously provides new features that enhance adjuvants' performance aspects. Adjuvants are specifically designed to enhance the action of pesticides by enhancing their carrier, wetting, fixing, and penetrating qualities. By versatility in the formulation of adjuvants, formulation technologies allow for adjuvants with desirable properties like coverage, rate of uptake, and rain fastness. These improvements lead to enhanced and dependable pest control regardless of the prevailing physical state, increasing crop productivity and, hence, better farmer income. Thus, global agricultural sciences giant FMC Corporation has signed a new research collaboration agreement with AgroSpheres, a groundbreaking Agtech innovator in crop protection and health. This partnership will help accelerate the search and development of other new bioinsecticides and dovetail with FMC's overriding corporate goal.
Restraint: Limited product differentiation.
The main competitors’ activity defines the agricultural adjuvants market as highly competitive at the present stage. In such a scenario, differentiating a company’s products from its competitors presents a real challenge to organizations. The complication arises from the fact that adjuvant products usually contain similar active ingredients, and their functions are quite akin, thereby presenting manufacturers with a challenge of how they will differentiate themselves. Thus, price becomes highly sensitive and a key competitive element, resulting in what is well known as a ‘race to the bottom’ as firms battle to grab the market share. Client specificity and product differentiation are other factors leading to the commoditization of adjuvant products. When products are universally defined solely as consumer items, price will often become the primary determining factor, not other intangible features. This aspect intensifies the rivalry in price among manufacturers due to cuts in prices requisite to increase sales, thus reducing the commercial margins.
Opportunity: Customized solutions for specialty crops.
Fruits, vegetables, nuts, and flowers that are not grains, oilseeds or livestock feed are specialty crops with differing production needs from those defined as commodities. A major factor linked to specialty crops is that some are more vulnerable to pests, diseases, or environmental factors that do not affect commodity crops. Further, many of these specialty crops are produced in different climatic zones and production practices, making the control of pests and diseases in specialty crops more challenging to achieve. Research has proposed that adjuvants increase the efficiency of pesticides used in specialty crops and pest management as they increase the coverage and penetration of the applied pesticides, hence improving pest and disease control results. Also, specialty crops are mostly quality and higher-value crops that require special time, technology, and other inputs to meet quality standards and consumer demands in the market. In specialty crops such as vegetables, fruits, and nuts, farmers and growers care more about the visual aspects of the crops, their taste and nutritional value that are affected by pest infestation, diseases, or the wrong use of pesticides. Supplementary programs can assist in attending to some of these challenges by ensuring that crop protection products are delivered effectively and accurately to the targeted crops, thereby boosting the quality and marketability of the produce. In addition, specialty crops are produced using certain growing techniques, such as greenhouse growing, hydroponic growing systems, or organics that may perform well with particular adjuvants in the market. Since growers work under particular conditions, they prefer certain adjuvants that would work well for their production techniques. For instance, adjuvants developed for the treatment of organic farming must be chemical-free or naturally derived and, therefore, meet the requirements of organic certification standards and regulations; thus, there is a need for a proper and effective adjuvant solution that is eco-friendly and sustainable. Also, eight or specialty crops may not be harvested simultaneously, may require different post-harvest handling, and may be subjected to different export regulations compared to the commodity crop; thus, the adjuvants used should be compatible with the above-specified production and marketing regulations. This aspect is an opportunity for adjuvant manufacturers to consider producing specialty formulations of adjuvants that will suit the various needs of these specialty crop growers, increase market share incognito and meet hitherto unfulfilled needs in other horticultural segments.
Challenge: Seasonal demand fluctuations.
The use of adjuvants in the agricultural context is more or less likely to be cyclical and is deployable predominantly throughout the planting, crop protection, and agriculture timeframes. On the other hand, there may be a situation where the use of adjuvants is significant during a certain time of the year for agricultural reasons. However, it is used sparingly during other periods of the year. Manufacturers may require assistance with returning to normal inventory levels when they order too much stock during the holiday season, creating risk and excess, which cost money to store, may not sell, or may need to be updated. This aspect has implications in the strategic planning and development of the production schedule in line with the demand and human resource implications, such as overstaffing, which sees resources needing to be used more efficiently. In addition, the requirements during the relevant season can also influence the suppliers and logistics chains of the adjuvants business. Industry players connect closely from a supply chain angle to ensure they attain supplies of fresh raw materials. They process the supplies through production to offer final products and deliver them to customers as desired. Due to these fluctuations in demand, there are challenges associated with the relationships between the supply chain partners, consequently affecting the flow and delivery of products, timely availability of products, and costs incurred in transportation.
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Some of the major players operating in the global Agricultural Adjuvants market are:
• BASF SE
• Bayer AG
• Corteva Agriscience
• Croda International PLC
• Clariant AG
• Evonik Industries AG
• FMC Corporation
• Huntsman International LLC
• Helena Chemical Company
• Ingevity
• Lamberti SPA
• Miller Chemical & Fertilizer, LLC.
• Nufarm Limited
• Stepan Company
• Solvay SA
• Syngenta Group
• The Dow Chemical Company
• Winfield United
• Wilbur-Ellis Holdings, Inc.
Key Segments cover in the market:
By Type
• Activator Adjuvants
• Utility Adjuvants
By Application
• Fungicides
• Herbicides
• Insecticides
• Others
By Crop
• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion) and volume (Tons). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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