Redding, California, March 17, 2021 (GLOBE NEWSWIRE) -- According to the research report titled “Agricultural Adjuvants Market by Function (Activator, Utility), Application (Herbicide, Insecticide, Fungicide), Formulation (Suspension Concentrates, Emulsifiable Concentrates), Adoption Stage (Tank-Mix, In-Formulation), Crop Type – Global Forecast to 2027”, published by Meticulous Research®, agricultural adjuvants market is projected to reach $4.7 billion by 2027, at a CAGR of 5.7% from 2020. 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. Growing food demand and shrinking arable land, increasing demand for agrochemicals, increasing adoption of precision farming methods, and growing need to limit pesticide wastage are the primary growth drivers for this market. In addition, adjuvants for biological products, the growing consumer preference for environment-friendly agricultural adjuvants, and drift potential of unmanned aerial vehicles (UAVs) with adjuvants in aerial applications provide significant opportunities for manufacturers in the agricultural adjuvants market.
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The world’s human population has increased nearly fourfold in the past 100 years, and it is projected to reach 9.2 billion by 2050. In addition, farmland per capita in 2030 is expected to decrease to 1800m² from 2,200m² in 2005. According to the Food and Agriculture Organization (FAO), a United Nations agency, the global arable land was reduced by nearly 0.8 million square kilometers during 2000–2015. This shrinking cultivable land and increasing demand for food are creating the need for the optimum utilization of the existing farmlands. Making it worse are the various crop pests that are causing 10-16% of the global crop losses annually. This is leading to advancements in technology and the use of agrochemicals to maximize the output from the existing farmlands.
Nowadays, the agriculture industry is rapidly swinging towards advancements in traditional farming practices. Growing demand for agrochemicals subsequently increases the use of agriculture adjuvants. They play a vital role in improving the effectiveness of these crop protection products to eliminate pests and insects. Apart from improving the efficiency of various agrochemicals, agricultural adjuvants are also used to boost agricultural productivity and multiply the yield capacity of farms. Therefore, the factors such as growing population, coupled with the rise in the use of advanced pesticides, lead to the growth of the agrochemicals industry globally, which subsequently drives the growth of the agriculture adjuvants market.
The agricultural adjuvants market is mainly segmented based on function, application, formulation, adoption stage, crop type, 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 COVID-19 pandemic has adversely hit many economies around the world. Combat measures like complete lockdown and quarantine to fight COVID-19 have had a strong adverse impact on many industries globally, including a portion of the agriculture industry such as crop protection chemicals and other additives. Over a few months, this crisis has directly impacted agricultural adjuvant's development rate as chemical manufacturing units in many countries have been disrupted.
In the agriculture sector, the agricultural crop protection chemicals and adjuvants market have registered a slowdown in sales in the first quarter of 2020 due to the disruption in logistics and transportation. Along with logistics and transportation, the agrochemicals and agricultural adjuvants market has registered interruptions in the sector's entire value chain from raw materials supply to manufacturing, packaging, and distribution. This is, however, causing an imbalance between the demand and supply quantities on a large scale. Though, some regions are completely dependent on imports and are facing tough situations.
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Adjuvants are majorly dependent on raw materials such as vegetable oils and petroleum for their production. The turbulences in the regular supply chain have caused the companies to create new supply chains that are more expensive and take a lot more time to satisfy the need for catalysts in different chemical industry areas, seeing an unprecedented degree of activity associated with biotechnology. All these factors hampered the potential growth of the market at the beginning of 2020. At the same time, the Food and Agriculture Organization of the United Nations (FAO) has acknowledged that the spread of COVID- 19 is sinking in a few countries and regions of the world. It is still resurging or spreading quickly in some other countries such as the U.S., Korea, Brazil, and India.
Key Findings in the Agricultural Adjuvants Market Study:
Based on function, the activator adjuvants segment commanded the dominant share of the overall agricultural adjuvants market. The dominant position of this segment is primarily due to its capability to reduce surface tension to enhance contact area as well as rain fastness and increase solubilization and spray retention. Moreover, the global agricultural activator adjuvants market is further segmented into surfactants and oil adjuvants.
Based on application, the overall agricultural adjuvants market is mainly segmented into herbicides, insecticides, fungicides, and other applications. The herbicides segment commanded the dominant share of the overall agricultural adjuvants market. The dominant position of this segment is mainly attributed to the rising demand for herbicidal products to protect against crop failure and enhance agricultural production.
Based on formulation, the global agricultural adjuvants market is mainly segmented into suspension and emulsifiable concentrates. The suspension concentrates segment commanded the dominant share of the overall agricultural adjuvants market. The dominant position of this segment is mainly attributed to its increasing demand due to the wide range of benefits such as the absence of dust and small particle size of the active ingredients that minimize environmental risks, ease of use, and high effectiveness.
Based on adoption stage, the overall agricultural adjuvants market is mainly segmented into tank mix and in-formulation. The tank mix segment commanded the dominant share of the overall agricultural adjuvants market. The dominant position of this segment is mainly attributed to its capability to improve the compatibility and performance of agrochemicals on plant surfaces.
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Based on crop type, the cereals and grains segment commanded the dominant share of the overall agricultural adjuvants market. The dominant position of this segment is mainly attributed to the growing demand for cereals and grains products, huge area under cereals and grains cultivation, and increase in demand for crop protection chemicals for cereals and grains crops.
Geographically, North America commanded the major share of the global agricultural adjuvants market, followed by Asia-Pacific and Europe. The prominent position of the North American region in the agricultural adjuvants market is mainly attributed to the continuous shrinkage of the arable land, growing population, and increasing demand for standard quality food.
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
- Tank-Mix
- In-Formulation
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
- U.S.
- Canada
- 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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