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Acknowledging the colossal traction, the market is perceiving currently, Market Research Future (MRFR), in its recently published study report asserts that the global agricultural adjuvants market would garner exponential growth by 2023, registering a phenomenal CAGR throughout the forecast period (2017 to 2023). The rising demand for agrochemical products is another key driving force driving the agricultural adjuvants market.Agricultural Adjuvants are used as formulation ingredients in the processing and application of agricultural chemicals that protect and enhance plant growth. They enhance the productivity of crop protection products or agrochemicals such as herbicides, insecticides, fungicides and other agents that control or eliminate unwanted pests and plant diseases.
Effective application of these adjuvants ensures a fruitful harvest which is letting them garner a greatly increased popularity. Resultantly, the adoption of agricultural adjuvants has increased colossally in recent years which is further resulting in increasing the growth of their market. The ever-increasing global population is the primary driving force behind this market growth, presaging the growing demand for food.
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The increasing awareness among farmers and the demand for high agricultural productivity is further adding fuel to the growth of the market. Furthermore, factors such as the change in farming practices and technology leading to increasing acceptance of modern farming and protected agriculture are fostering the growth of the agricultural adjuvants market.
The rapidly depleting agrarian land and the water scarcity portends the surging need for adequate adjuvating to save the crops or produces from the potential attack of various micro and major organisms. Moreover, governments around the world are undertaking more and more initiatives to control seizures and multiple kinds of pests to increase agricultural productivity.
On the other hand, factors such as the volatility in the prices and demand & supply gap in the raw materials required for the production of these adjuvants are expected to hamper the growth of the market, fluctuating the costs of the final products.
Major Players:
Key players leading the Global Agricultural Adjuvants Market include-
• AkzoNobel N.V. (Netherlands)
• Evonik Industries AG (Germany)
• Nufarm Ltd (Australia)
• Croda International PLC (U.K)
• Dow Corning Corp. (U.S.)
• Clariant International Ltd (Switzerland)
• Helena Chemical (U.S.)
• Adjuvant Plus Inc. (Canada)
• Solvay (Belgium)
• Huntsman Corp. (U.S.)
Global Agricultural Adjuvants Market - Competitive Landscape
Highly competitive, the agricultural adjuvants market appears fragmented due to the presence of numerous matured as well as small-scale players. These players try to gain an edge over their competition through strategic partnership, acquisition, expansion, collaboration, and product & technology launch.
International players who are increasingly expanding their footprint in the agricultural economy of the growing market, making it difficult for regional vendors to compete with them, especially in terms of features such as quality, technology, and price.
Global Agricultural Adjuvants Market - Regional Analysis
The North American region, heading with a large number of key players accounts for the dominating market in the global agricultural adjuvants market. Factors such as the massive demand for these adjuvants in the increasing number of farming activities especially in the US impact the growth of the regional market, positively. Furthermore, stringent government regulations regarding food safety is a key driving force behind the growth of the agricultural adjuvants market in this region.
The agricultural adjuvants market in the European region accounts for the second-largest market, globally. The agricultural is one of the main sectors in Europe shaping the landscapes in rural areas. Farming is an inherent part of food systems in Europe, and the range of food produced here is diverse.
The region is quite self-sufficient in most agricultural major commodities and the single largest exporter of agri-food products. Germany and Spain account for the major contributors to the growth of the Agricultural Adjuvants Market in the region.
The Asia Pacific agricultural adjuvants market is a promising market too. The region has vast agrarian zones. The APAC has undergone a dramatic shift in its dietary patterns in recent years driven by rapid income growth, urbanization, and changes in lifestyles induced by globalization.
Factors such as the increasing population, results of economies of scale, along with the favorable government initiatives of the governments, encouraging the increased agriculture production to meet the food demands, are expected to propel the growth of the regional market during the forecasting period.
Developing countries, such as India & China among other APAC countries are estimated to witness the maximum growth of the agricultural adjuvants market over the forecast period 2017-2023.
Global Agricultural Adjuvants Market – Segments
Agricultural Adjuvants Market has been segmented into four key dynamics:
By Type
• Activator Adjuvants
• Utility Adjuvants
By Application
• Herbicides
• Insecticides
• Fungicides
By Crop-Type
• Grains & Cereals
• Oil Seeds & Pulses
• Fruits & Vegetables
Industry/Innovation/Related News
April 01, 2019- Huber Engineered Materials (the US), a specialty engineered materials company owned by the J.M. Huber Corporation company announced the acquisition of Miller Chemical & Fertilizer, LLC (the US).
Huber Engineered Materials (HEM) is a leading global company involved in the manufacturing of products used in a wide range of applications including agricultural nutrients and adjuvants. Miller manufactures and distributes crop protection and nutritional agrichemical products designed to improve plant and crop production quality and yield.
Miller sells its products in more than 90 countries via its global sales force of skilled agronomists and distributors and targets the high-value segment of fruits, nuts, and vegetables. In such a scenario, the acquisition is surely going to help HEM to expand its portfolio and widen its reach with Miller’s capable sales force.
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