The global agricultural adjuvants market size is expected to reach USD 5.24 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030.
Industry growth is majorly driven by the increasing demand for crop protection chemicals for improving the yield of crops due to shrinking arable land and growing population globally. The global demand for crop protection products is expected to drive market growth.
For instance, according to the Economic Survey, the agricultural and other related industries in India were the most resilient to COVID-19, with a growth of around 3.6% in 2020-21 and 3.9% in 2021-22. In addition, in the U.S., the agricultural sector contributed around 5.0% of the country's total GDP due to the rising demand for food, according to the U.S. Department of Agriculture.
Moreover, due to the population explosion, farmers are required to produce more food grains in a short span of time. Also, the sizes of arable lands have shrunk due to the growing population and rapid urbanization & industrialization, further increasing the pressure on farmers to produce more on less available land.
This is a huge concern for agriculture-based economies in the world, such as India, which is highly dependent on agriculture and related activities. Thus, farmers resort to using agricultural adjuvants and fertilizers to increase the yield in a short period. Furthermore, according to the FAO, agriculture will need to produce approx. 50% more food, biofuel, and livestock fodder by 2030 than that produced in 2012 to meet the global demand.
This has resulted in the growing demand for agrochemicals, which, in turn, will drive the demand for the product market. On the other hand, fluctuating prices of raw materials may hamper the industry growth to some extent.
The majority of agrochemical raw materials are exported by China; however, due to the outbreak of the COVID-19 pandemic in 2019 in China, the supply of various raw materials including petroleum products and chemicals have been affected, resulting in fluctuations in the prices of these raw materials and ultimately the prices of agricultural adjuvants.
Companies Mentioned
Clariant AG
Solvay SA
The Dow Chemical Company
Huntsman International LLC
Evonik Industries AG
Ingevity
Nufarm Ltd.
Corteva Agriscience
Croda International PLC
BASF SE
Miller Chemical & Fertilizer, LLC.
Helena Chemical Company
Winfield United
Wilbur-Ellis Holdings, Inc.
Stepan Company
Agricultural Adjuvants Market Report Highlights
The global market growth is attributed to the increasing rate of crop loss due to pests & insects hampering the production yield
The activator adjuvants segment dominated the market in 2022 since these activators are used in agrochemicals as they are less expensive and easier to obtain than utility adjuvants
The herbicides application segment led the global market in 2022 as herbicides are used to suppress the growth of undesirable plants, such as weeds, which cause around 25% of crop loss worldwide annually. According to the FAO, over 2 million tons of herbicides were consumed globally in 2019. This is more than double the number of insecticides used in 2019
The petroleum-based source segment led the market in 2022 due to the ability of these sources to slow down the drying rate of crop protection chemicals to improve their absorption into crops, thus making them more efficient
The conventional segment dominated the market in 2022 as they are majorly used with pesticides, herbicides, and fertilizers for improving yields of oilseeds & pulses, cereals & grains, and fruits & vegetables
Asia Pacific was the leading region in 2022 on account of the availability of low-cost labor and an abundance of raw materials
Key Attributes:
Report Attribute
Details
No. of Pages
114
Forecast Period
2022 - 2030
Estimated Market Value (USD) in 2022
$3.64 Billion
Forecasted Market Value (USD) by 2030
$5.24 Billion
Compound Annual Growth Rate
4.7%
Regions Covered
Global
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Agricultural Adjuvants Market Variables, Trends & Scope 3.1 Market Lineage Outlook 3.1.1 Parent Market Outlook 3.2 Industry Value Chain Analysis 3.2.1 Raw Material Analysis 3.2.2 Technology Trends Analysis 3.2.3 Sales Channel Analysis 3.3 Regulatory Framework 3.4 Market Dynamics 3.4.1 Market Driver Analysis 3.4.1.1 Increasing Demand For Crop Protection Chemicals 3.4.1.2 Growing Population & Shrinking Arable Land 3.4.2 Market Restraint Analysis 3.4.2.1 Stringent Regulations To Hinder The Market Growth 3.4.3 Market Challenge Analysis 3.4.4 Market Opportunity Analysis 3.5 Price Trend Analysis, 2018 - 2030 3.6 Business Environment Analysis 3.6.1 Industry Analysis - Porter Analysis 3.6.2 Pestel Analysis
About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
