Wilmington, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Agricultural Adjuvants Market by Product Type (Activators, Spray Modifiers, Utility Modifiers), by Utilization Type (Tank-mix Adjuvants, In-can Adjuvants), by Application (Pesticides, Herbicides, Insecticides, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031." The report states that the global market for agriculture adjuvants is anticipated to generate $6.4 billion by 2031. The industry was valued at $3.5 billion in 2021 and is estimated to portray a noteworthy CAGR of 6.1% during the forecast period of 2022 to 2031. The report is an extensive resource of competitive scenario, regional landscape, value chain, key investment pockets, top segments, and dynamic market trends.
Factors influencing the growth of the market:
The global agriculture adjuvants market is gaining traction due to factors such as heightened demand for food and beverages owing to the rising population, surge in usage of pesticides in agriculture to optimize crop production and yield, and surge in demand for effective insecticides. However, toxicity related to the usage of agriculture spray adjuvants hinders market growth. Nevertheless, usage of green chemistries by leading players for manufacturing eco-friendly adjuvant products, development of formulation technology and latest adjuvant molecules that involves multi-components and multi-functional adjuvants, introduction of innovative crop protection products that optimize crop yields, and surge in focus on health and wellness among customers.
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The activators segment to grab the major share throughout the forecast timeframe
On the basis of product type, the activators segment held the highest market share of more than three-fifths of the global agricultural adjuvants market revenue in 2021 and is expected to retain its dominance throughout the forecast timeframe. Also, the same segment is estimated to display the fastest CAGR of 6.4% throughout the forecast timeframe, owing to the huge usage of activators in agriculture. Activators are adjuvants that amend viscosity, evaporation, particle size, and other properties of agrochemicals.
The tank-mix adjuvants segment to retain its dominance throughout the forecast timeframe
On the basis of utilization type, the tank-mix adjuvants segment gained the highest market share of nearly three-fourths of the global adjuvants market in 2021 and is expected to rule the roost throughout the forecast timeframe. Also, the same segment would portray the fastest growth with 6.3% CAGR by 2031. Tank-mix adjuvants can be utilized with different plant protection products, like cotton defoliant, horticulture insecticide sprays, non-selective herbicides, and others. Effective in enhancing spray formation, retention, and efficiency of agrochemical products.
The herbicides segment to continue its supremacy by 2031
On the basis of application, the herbicides segments held the largest market share of nearly half of the global market revenue in 2021 and is anticipated to retain its dominant share from 2022 to 2031. The adjuvants accessible in the market are majorly designed and proven to assist herbicides stick, penetrate and cover the leaves to reach the target area efficiently. As per the Australian Pesticide and Veterinary Medicine Authority, herbicide adjuvants are utilized primarily to enhance ease of herbicide application and product efficiency. However, the insecticides segment is anticipated to witness the fastest growth with a highest CAGR of 6.5% by 2031. Integration of adjuvants with insecticides improves the performance of insecticides in cold weather conditions. Furthermore, physical and chemical properties of sprays or pesticides can be improved with the usage of adjuvants.
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Asia-Pacific to gain the lead position by 2031
On the basis of regional category, the Asia-Pacific region held the largest market share in 2021, contributing to more than one-third of the global market revenue and is estimated to maintain its lead position from 2022 to 2031. The same region would display a notable CAGR of 7.2% throughout the forecast timeframe. The region contains vast agriculture land for cultivation. Additionally, rising awareness about the advantages of adjuvants with spray chemicals and surging demand for staple and other food products that drive the need for huge crop yield also accelerate the growth of segment.
Key Market Players:
- WinField Solutions LLC
- Nufarm, Solvay Inc.
- Loveland Products Inc.
- Helena Agri-Enterprises LLC
- GarrCo Products Inc.
- Evonik Industries
- Croda International Plc
- Corteva
- BASF SE
The report offers an extensive analysis of the primary market players in the global agricultural adjuvants market. These key players have implemented diverse strategies, including the introduction of new products, partnerships, expansions, joint ventures, agreements, and various other approaches. These tactics aim to improve their market presence and sustain influential positions across various regions. The report proves invaluable by shedding light on business performance, operational divisions, product arrays, and strategic moves of market players, effectively presenting the competitive landscape within the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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