Growth opportunities and latent adjacency in Agricultural Adjuvants Market

Northbrook, USA, 2020-Jul-21 — /EPR Network/ — The report “Agricultural Adjuvants Market by Function (Activator and Utility), Application (Herbicides, Insecticides, and Fungicides), Formulation (Suspension Concentrates and Emulsifiable Concentrates), Adoption Stage, Crop Type, and Region – Global Forecast 2026″, is estimated to be valued at USD 3.1 billion in 2020 and is projected to reach a value of USD 4.4 billion by 2026, growing at a CAGR of 6.1% during the forecast period. Factors such as the rising demand for improved crop varieties is driving the growth of the agricultural adjuvants market.

Report Objectives:

• To define, segment, and project the global market size of the agricultural adjuvants market.
• To understand the agricultural adjuvants market by identifying its various subsegments
• To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze the micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market
• To project the size of the market and its submarkets, in terms of value, with respect to the regions (along with their respective key countries)
• To profile key players and comprehensively analyze their core competencies

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Opportunity: Manufacturing adjuvant products for cost-effectiveness

The cost of adjuvants fluctuates and depends mainly on the prices of petroleum and vegetable oil that are used for agricultural adjuvant production. As the application costs of different single-purpose adjuvants during pesticide application prove to be expensive for growers, applicators are looking for adjuvants that are simple to use and multifunctional. The increased downstream cost, high foam formation during production, and low productivity have resulted in many R&D activities. Many new developments have been the area of focus for researchers; these include reducing the raw material costs, increasing the production yield, and developing new techniques to lower the foam formation.

Challenge: Impact on the production cost of farmers

The adoption of adjuvants further adds to the costs of seed and pesticides used for crop cultivation. Even though the adoption of adjuvants reduces the application cycles of pesticides, the cost of adjuvants could considerably affect the farm production cost to an extent. The cost again would depend on the stage at which the adjuvants are utilized, either as in-formulation or tank-mix adjuvants. The farmers’ profit margins get reduced due to the additional cost of adjuvants. However, with the increasing need to undertake sustainable measures to control pesticide drift and avoid creating environmental risks, farmers would adopt these adjuvants, which would, in turn, turn out to be cost burden, especially in developing countries.

Asia Pacific is projected to grow at the highest CAGR% during the forecast period

The market for agricultural adjuvants in the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2026, owing to the increasing investments by key players in countries such as China, India, and Thailand, and also the rising adoption of adjuvant technology by the crop growers for insecticide applications. Due to these factors, the market in the Asia Pacific region is projected to record the highest growth from 2020 to 2026.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the agricultural adjuvants market. It includes the profiles of leading companies such as this market include Miller Chemical and Fertilizer, LLC (US), Precision Laboratories (US), CHS Inc (US), WinField United (US), Kalo Inc. (US), Nouryon (Netherlands), Corteva (US), Evonik Industries (Germany), Nufarm (Australia), Croda International (UK), Solvay (Belgium), BASF (Germany), Huntsman Corporation (US), Clariant (US), Helena Agri-Enterprises (US), Stepan Company (US), Wilbur-Ellis Company (US), Brandt (US), Plant Health Technologies (US), Innvictis Crop Care (US), Interagro (UK), Lamberti S.P.A (US), Drexel Chemical Company (US), GarrCo Products Inc. (US), and Loveland Products Inc. (US).

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Recent Developments:

• In April 2020, Corteva entered in a joint venture with the MercyOne Healthcare Organisation, to meet the urgent need for the processing of COVID-19 samples with an initial focus on Iowa area.
• In April 2020, Solvay entered into a partnership with Boeing, who is a face shield manufacturer, wherein the company would supply high-performance, medical-grade transparent film. The strategy was a response to the rising demands for personal protective equipment amongst healthcare professionals.
• In October 2019, Nufarm initiated a state of art crop protection segment facility in Greenville, Mississippi, which will help broaden the companies production in their facilities in Chicago to North American based platforms.