Rockville , Jan. 11, 2024 (GLOBE NEWSWIRE) -- The global pesticide inert ingredients market is poised to reach a valuation worth US$ 7,621.2 million in 2024. During the forecast period, the demand is anticipated to garner a CAGR of 5.6% and hence reach a sum of US$ 13,167.2 million by the end of 2034.
An increasing need for sustainable agriculture is driving the growth of biodegradable formulations in the pesticide inert ingredients market. Precision agriculture technology, such as drones and data analytics, improve pest management efficiency. These factors contribute to market expansion by aligning with environmentally friendly and technologically sophisticated agricultural trends.
For More Insights into the Market, Request a Sample of this Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=9552
Key Segments of Pesticide Inert Ingredients Market Research Report
| By Form | By End Use | By Region |
|
|
|
The growing global need for sustainable agriculture methods provides opportunities in the pesticide inert ingredients market. Precision agricultural innovations provide opportunities for the creation of improved formulations. Opportunities exist for companies to contribute to environmentally responsible and technologically sophisticated pest management products as the market for pesticides inert ingredients advances.
Key Takeaways from the Market Study
- In 2019, the global pesticide inert ingredients market was estimated at US$ 5,945.2 million.
- The North America pesticide inert ingredients market is expected to rise to 25.7% market share by 2024.
- East Asia is expected to have reached 42.1% of the global market by 2024.
- In 2024, the market in the United States is estimated to be worth US$ 1,134.4 million.
- The China market for pesticide inert ingredients is anticipated to be worth US$ 1,659.4 million in 2024.
- In 2024, the liquid form segment is expected to account for 74.50% of the global market.
- The herbicide segment is expected to reach a market share of 40.21% by 2024.
“The pesticide inert ingredients market is driven by rising need for biodegradable formulations that address sustainable agriculture. Drones as well as data analytics are examples of precision agricultural technology which may be used to maximize efficiency and usage of inert ingredients,” remarks a Fact.MR analyst.
| Report Attribute | Details |
| Value Projection (2034) | US$ 13,167.2 million |
| Growth Rate (2024-2034) | 5.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
Competitive Landscape
To get a competitive advantage, key players in the global market for pesticide inert ingredients are implementing creative tactics. To create sustainable and biodegradable inert ingredients that are in line with environmentally friendly agriculture methods, they are investing in research and development.
The integration of precision agriculture equipment like drones and data analytics is made possible by strategic partnerships with technology companies, which improves the effectiveness of pest management. In addition to addressing environmental issues, these developments establish the businesses as industry leaders in providing efficient, eco-friendly, and advanced technical solutions for the constantly developing market for pesticide inert ingredients.
Key Development
- In 2023, Clariant announced the official launch of their new CATOFIN catalyst manufacturing facility in Jiaxing, Zhejiang Province, China. A fundamental component of Clariant's new purpose-led approach, which is embodied in the phrase "Greater chemistry - between people and planet," is investing in technologies like CATOFIN. In addition, the location adds to the company's currently expanding foothold in China by complementing the catalyst R&D center located within the One Clariant Campus in Shanghai and the neighboring catalytic factories in Jinshan.
- In 2023, Evonik announced the complete acquisition of the previous joint venture Thai Peroxide Company Limited (TPL) in Saraburi, Thailand. The purchase, which was finalized on December 15, allows the multinational manufacturer of peroxides to increase the amount of specialty-grade hydrogen peroxide and peracetic acid that it offers in the rapidly developing Asia Pacific market. The move helps Evonik's Active Oxygens business division pursue its goal of concentrating on specializations for applications in the future.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9552
More Valuable Insights Available
Fact.MR offers an unbiased analysis of the global pesticide inert ingredients market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the pesticide inert ingredients market, the market is segmented on the basis of form (liquid, solid), by end use (herbicide, insecticide, fungicide, others) and region (North America, Europe, Latin America, East Asia, South Asia & Oceania, Middle East & Africa).
Checkout More Related Studies Published by Fact.MR Research:
Egg Replacement Ingredients Market: Expanding at a CAGR of 5.8%, the global egg replacement ingredients market is expected to increase from a valuation of US$ 1.2 billion in 2023 to US$ 2.1 billion by 2033-end.
Functional Dairy Ingredients Market: The global functional dairy ingredients market accounts for a revenue of US$ 201.47 billion in 2022 and is anticipated to surge to a market valuation of US$ 417.16 billion by the end of 2032. Worldwide consumption of functional dairy ingredients is predicted to surge at a CAGR of 7.5% through 2032.
Vegan Baking Ingredients Market: The global vegan baking ingredients market is estimated at US$ 1.9 billion in 2023 and is forecasted to expand at a noteworthy 6.5% CAGR over the next ten years (2023 to 2033). Worldwide vegan baking ingredients demand is projected to reach a market revenue of US$ 3.6 billion by 2033-end.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team : sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
