The agricultural adjuvants market is estimated to account for a value of USD 3.3 billion in 2019 and is projected to grow at a CAGR of 5.3% from 2019, to reach a value of USD 4.7 billion by 2026. An increasing need for green adjuvants, improving efficiency and effectiveness of agrochemicals are some of the factors driving the growth of this market.
Adjuvants are used as formulation ingredients in the processing and application of agricultural chemicals that enhance the growth of the plant. It improves the efficiency of pesticides such as fungicides, insecticides, herbicides and other pest control agents that eliminate the pest and plant diseases. The effectiveness can be due to multiple modes of action such as penetration, facilitated wetting or better retention. Adjuvants are traditionally mostly combined with herbicides, however the use for fungicides and insecticides is increasing. Key players involved in the market include Corteva Inc (US), Evonik Industries (Germany), and Solvay (Belgium), Clariant (US), Nouryon (Netherlands) and CHS Inc, (US).
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Although the benefits offered by the product is driving the market, the harmful effects derived from chemical adjuvants is affecting the environment and human health. Therefore, government authorities and adjuvant manufacturers are focusing on biologically derived adjuvants which has sustainable effects on the biodiversity. Different regulations are imposed across different regions for the manufacture and registration of agricultural adjuvants. For instance, adjuvants in Canada are regulated by the pest management regulatory agency (PMRA), which ensures that each ingredient used in the adjuvant is tested and proven safe to use. With the changing trends, adjuvant manufacturing companies are developing novel products and technologies to maintain the viability and pesticidal efficiency of agricultural biologicals such as biostimulants and biofertilizers. Various regulations are imposed by government agencies such as the United States Environmental Protection Agency (US EPA) and EU’s registration, evaluation, and restriction of chemicals to address them.
Recently, the demand for bio-based adjuvants such as methylated seed oil (MSO), modified vegetable oils, and organo-modified siloxanes has been growing. The adjuvants derived biologically are considered eco-friendly due to their high level of safety and biodegradability. The consumers are having more awareness for the use of renewable and natural ingredients and therefore, this is driving the demand for bio-based adjuvants and the development of greener solutions for various applications such as agriculture, cosmetics and pharmaceuticals. Few players such as Wilbur-Ellis Holdings, Inc. (US) and Precision Laboratories, LLC (US) offer products containing methylated seed oil. With the increasing use of pesticides, Asia -Pacific region is dominating the market for adjuvants.
Key questions addressed by the report:
- What are the new application areas for the agricultural adjuvants market that companies are exploring?
- Who are some of the key players operating in the agricultural adjuvants market and how intense is the competition?
- What kind of competitors and stakeholders would be interested in this market? What will be their go-to-market strategy, and which emerging market will be of significant interest?
- How are the current R&D activities and M&A’s in the agricultural adjuvants market projected to create a disrupting environment in the coming years?
- What will be the level of impact of new product launches on the revenues of stakeholders, due to the benefits offered by agricultural adjuvants market, such as increasing revenue, environmental regulatory compliance, and sustainable profits for the suppliers?