The Agricultural Adjuvants Market Growth Rate To Go Over 9% With Rising Agrochemical Demand
The Business Research Company's agricultural adjuvants market research report expands on key drivers, trends, and growth opportunities in the market.
LONDON, July 13, 2022 /PRNewswire/ -- Increasing demand for agrochemicals is driving the growth of the agricultural adjuvants market. Agrochemicals are chemical products composed of fertilizers, pesticides, and plant-growth hormones used in agriculture. An agricultural adjuvant is an auxiliary that increases the effectiveness of an agrochemical. For instance, in 2019, according to various research, around 2 million tons of pesticides were used globally. Global pesticide usage increased to 3.5 million tons in the year 2020. Thus, the growing demand for agrochemicals is driving the growth of the agricultural adjuvants market.
The global agricultural adjuvants market size is expected to grow from $3.38 billion in 2021 to $3.68 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The global agricultural adjuvant market size is expected to grow to $5.3 billion in 2026 at a CAGR of 9.6%.
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Agricultural Adjuvants Market Definition
The agricultural adjuvants market segment consists of sales of agricultural adjuvants by entities (organizations, sole traders, and partnerships) that are chemicals used to enhance the efficiency of chemical agents and other pesticide products to eliminate pests and help in building up the response and ability of the pesticides. An agricultural adjuvant is any material (other than water) that is added to an agricultural chemical product to change its physicochemical qualities and/or improve its efficacy. Adjuvants are additives that are either added to the formulation or added to the spray tank to modify chemical fertilizer activity or application characteristics. Different types of adjuvants agriculture help in better mixing and handling; spray retention; droplet drying and increasing droplet coverage; boosting herbicide cuticle penetration and cellular accumulation; and lowering herbicide leaching through the soil profile.
Agricultural Adjuvants Market Trends
Technological advancement is a key trend gaining popularity among the agricultural adjuvants manufacturers. For instance, in 2020, BASF, a German multinational chemical company, announced the launch of Sentris buffering technology in the growing season of 2021. Sentris is a liquid buffering agent that, when added to a dicamba spray solution, raises and stabilizes the pH while reducing volatility. It has also been proven to reduce the potential for tank contamination by helping spray system clean-out and hygiene.
Agricultural Adjuvants Industry Players
Major players in the agricultural adjuvants market are Evonik Industries, Nufarm, Croda International Plc., Clariant International Ltd, Adjuvant Plus Inc., Helena Agri-Enterprises LLC, Solvay, Winfield Solutions LLC, BASF SE, Croda International PLC, Brenntag North America Inc., and Stepan Company.
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