The Global Agricultural Adjuvants Market was worth $2.77 billion in 2016 and estimated to be growing at a CAGR of 5.87%, to reach $3.69 billion by 2021.
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Global Agricultural Adjuvants Market With scarcity of land and water, increased importance is being put on the approval of innovative technologies that can help improve crop harvest. As such, Agricultural Adjuvants are witnessing a sizable demand since farmers are resolute to attain nutritious and high quality crop production.
Agricultural adjuvants are utilised to boost the efficiency of pesticides such as Insecticides, Herbicides, Fungicides, and other agents that are used to control or remove the undesirable pests. Agricultural adjuvants consist of ammonium fertilizers, surfactants and oils.
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The growth of the Global Agricultural adjuvants market is majorly driven by factors such as growing awareness among farmers regarding agricultural adjuvants, innovative production practices, innovative farming equipment, and increasing occurrences of pests and diseases. Another key factor driving the market is the globally rising population, which leads to the need for increase in crop harvest.
However, safer substitutes such as bio-farming and organic pesticides, unstable economies, and numerous health hazards linked with these adjuvants are the key factors hindering the growth of the market.
The Global Agricultural Adjuvants market is segmented based on Application, Type, and Crop Type. The market for Agricultural Adjuvants, on the basis of Application, is classified into Insecticides, Herbicides, Fungicides, and Others.
Herbicides lead the global market for Agricultural Adjuvants on the basis of application and are also growing at the highest CAGR during the forecast period. On the basis of Type, the global Agricultural Adjuvants market is segmented into Activator Adjuvants and Utility Adjuvants.
Activator Adjuvants are further segmented into Surfactants and Oil Adjuvants, whereas Utility Adjuvants are further classified into Drift Control Agents, Antifoam Agents, Compatibility Agents, Acidifiers, Water Conditioners, and Others. Activator adjuvants lead the agricultural adjuvants market and are also growing at the highest CAGR during the forecast period.
On the basis of Crop Type, the global Agricultural Adjuvants market is segmented into Fruits & Vegetables, Cereals & Oilseeds, and Others. Cereals & Oilseeds lead the global market on the basis of application and this trend is anticipated to remain during the forecast period.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America has been leading the global Agricultural Adjuvants on account of high usage rate and acceptance of precision farming.
The European market is projected to grow at a slow rate largely due to market maturity and regulatory restrictions. Growing demand for Adjuvants in countries such as China and Brazil is anticipated to offer huge growth prospect for the market in the Asia-Pacific and Latin America regions.
The major companies dominating the global Agricultural Adjuvants market are Akzonoble N.V., Adjuvant plus Inc., Clariant International Ltd., Solvay SA, Helena Chemical Company, and Tanatex Chemicals.
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