ALBANY, New York, January 16, 2019 /PRNewswire/ --
The global agricultural adjuvants market is expected to project a highly consolidated scenario. The market is led by a very few key players. As per the recent research report by Transparency Market Research, the three main players, namely Akzo Nobel N.V., Clariant, and Solvay, overall accounted for more than 50% of the entire market. The competitive scenario is foreseen to sustain its consolidation in the coming years too. These key players will be leveraging the lead with their well-settled supply chains across all the developing and developed markets in the world. Nevertheless, with the emergence of new firms, the competition is expected to get intense in the coming years.
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The global agricultural adjuvants market is prognosticated to expand at a steady CAGR of 6.6% within the forecast period from 2016 to 2024. In 2015, the market was valued around worth US$2.36 bn. This figure is likely to reach around US$4.16 bn by 2024-end.
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On the basis of application, the global agricultural adjuvants market comprise of fungicides, insecticides, herbicides, and various other minor usages in the protection of crops, for example, disinfectants, defoliants, desiccants, plant regulators, bio-stimulants, fertilizers, biocides, and micronutrients. Among these, pest control and crop control as herbicides, fungicides, and insecticides dominated the global agricultural adjuvants market as per the demand for application. Geographically, the global market is expected to be led by Latin America and North America region and various new entrants, especially in the US.
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Rising urbanization to Support Demand in Agricultural Adjuvants
The market is predominantly marked by the rising awareness about the utilization of adjuvants for the better crops protection. The market is additionally determined by the immense decrease in farmlands accessible for agricultural purposes as steady industrialization and urbanization activities are consuming up wide room in developing and agrarian economies. The surging population of the globe and the successive adoption for sustainable manufacturing of food items is additionally a key support of the global agricultural adjuvant market. Soon, the market will profit by a tremendous rise in use of trend setting innovations and strategies in the cultivating division, all over developing and developed economies. In developing nations, this will be fueled by the supportive initiatives by governments, through subsidizing and empowering controls, towards acquiring enhancement in the agricultural area.
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Genetically Modified Seeds Usage to Hinder Market Demand
The global agricultural adjuvants market includes for the most part encouraging scope of grwoth. In any case, certain elements, for example, the expanded utilization of genetically changed seeds, which are in general increasingly proficient with regards to security from pests and harvest yield, could prompt a diminished demand for agricultural adjuvants in future. All things considered, growing awareness among farmers in regards to the advantages of agrochemicals and the rising concentration on rising economies on acquiring enhancements in agricultural industry through teaching agriculturists are probably going to profit the market.
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The review is based on the findings of a report by Transparency Market Research, titled "Agricultural Adjuvants Market (Product Types - Activators (Surfactants, Oil Adjuvants, and Ammonium Fertilizers) and Utility (Wetting Agents & Spreaders, Buffering Agents, Drift Control & Foaming Agents, and Defoaming and Antifoaming Agents); Applications - Herbicides, Insecticides, and Fungicides) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."
The report segments the global Agricultural adjuvants market as:
Agricultural Adjuvants Market: Product Type Analysis
- Activators
- Surfactants
- Non-ionic
- Ionic
- Others
- Oil Adjuvants
- Petroleum Oil
- Vegetable Oil
- Ammonium fertilizers
- Surfactants
- Utility
- Wetting Agents & Spreaders
- Buffering Agents
- Drift Control & Foaming Agents
- Defoaming & antifoaming Agents
- Others
Agricultural Adjuvants Market: Application Analysis
- Herbicides
- Insecticides
- Fungicides
- Others
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