The agricultural adjuvants market is likely to observe substantial growth over the tenure of assessment due to expansion of the agricultural sector. Agricultural adjuvants enhance the effectiveness of fungicides, herbicides, insecticides, and various other agents that eliminate or regulate unwanted plant or pest-related diseases. Contrary to medical adjuvants, agricultural adjuvants are not capable of activating themselves in killing or controlling pests. Rather, these products improve the capability of the pesticides to penetrate, protect or target organism. Amongst the various types of ingredients that are utilized are salts, oils, emulsifiers, and surfactants. Each of these ingredients assists in the enhancement of properties such as droplet size, penetration, spreading and various other characteristics.
Some of the key players dominating the global agricultural adjuvants market are Dow Corning Corporation, Akzo Nobel N.V, Brandt Consolidated, Inc., Momentive Performance Materials Inc., Croda International Plc, and Loveland Products, Inc.
Transparency Market Research has come up with a detailed report on the global agricultural adjuvants market, for the period 2016 to 2024. The report estimates that the global agricultural adjuvants market is likely to rise at a healthy rate of 6.6 % CAGR. The market is likely to touch a market valuation of US$ 4.16 Bn through 2024.
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Driven by High Consumption Rate, North America to Dominate the Market
North America is likely to come up as a prominent region in the global agricultural adjuvants market due to popularity of precision farming and high rate of consumption. In addition to that, awareness regarding agricultural adjuvants amongst the farmers in North America is likely to leave a positive impact on the global agricultural adjuvants market.
Europe is forecasted to rise to prominence over the timeframe of assessment, from 2016 to 2024. Advanced agricultural practices together with the presence of leading companies are likely to propel the demand and production of agricultural adjuvants in Europe in the years to come. A rise in the adoption of precision farming in various countries of Latin America like Brazil and Argentina is likely to support growth of the market in Latin America. In Asia Pacific, the market is likely to be driven by augmented agricultural output together with technological progress in farming.
Increased Investment to Spell Growth for the Market
Agricultural adjuvants refer to substances that are utilized to accentuate the properties and performance of a pesticide formulation. These substances are added to pesticides, fungicides, herbicides, bactericides, fungicides, insecticides, and various other pesticide formulations to better crop yield.
The growth of the global agricultural adjuvants market is likely to be driven by the growing demand for food across the globe. The population across the world is increasing exponentially, and as a consequence, the demand for food is also increasingly rapidly. This additional population will generate a massive demand for horticulture crops, food crops, and cash crops in the years to come. To meet up with the requirements of the growing population, the need for agrochemicals is bound to rise, which is likely to drive the expansion of the global agricultural adjuvants market.
Furthermore, huge investments are made in the agriculture sector, some of which are particularly for farm agrochemicals, farm management, novel farming systems, supply chain technologies, and farm robotics. These are likely to increase the average income of farmers and diminish cost of production. These factors are likely to support growth of the global agricultural adjuvants market in near future.