Crop Oil Concentrates Market Analysis & Growth Trends

Chicago, 2021-Apr-16 — /EPR Network/ —

The crop oil concentrates market is estimated to be valued at USD 199 million in 2019 and is projected to reach USD 254 million by 2025, recording a CAGR of 4.1% during the forecast period. The growth of the crop oil concentrates market is driven by factors such as the growing need to increase the efficiency of agrochemicals and increasing adoption of herbicide-tolerant crops.

Key Players:
• Croda International (UK)

• Wilbur-Ellis (US)

• Plant Health Technologies (J. R. Simplot) (US)

• CHS Inc. (US)

• Brandt Consolidated (US)

• BASF SE (Germany)

The herbicides segment is estimated to dominate the crop oil concentrates market due to the increasing adoption of glyphosate-tolerant crops.

The use of pesticides remains high for herbicides in countries that increasingly adopt adjuvants. As per labels provided by manufacturers in their products, the dosage rate of crop oil concentrate (COC) is high for herbicide application, in comparison to fungicides and insecticides. Moreover, researchers focus on developing COC products that can be used with pre-emergent herbicides. Hence, the segment is projected to remain dominant in the next five years.

Large area under cultivation of cereal crops and the growing adoption of COCs for herbicides application provides high growth opportunities for the cereals & grains segment.
Wheat and corn are the major cereals cultivated worldwide, accounting for nearly 3.4% of the global cereal production in 2016, according to the FAO. Additionally, according to the FAO, the global cereal production increased from 2.6 billion tons in 2016 to 2.7 billion tons in 2018, which is mainly driven by the need for yield improvements in limited arable area for expansion. The application of herbicides is also high for row crops, particularly corn and wheat. Thus, with the increase in consumption of herbicides in the cereals & grains segment, the application of COC per hectare would increase. This, in turn, contributes to the growth of the crop oil concentrate market in the cereals & grains segment.

With the increasing presence of key players and the high adoption rate of adjuvants, North America is estimated to dominate the crop oil concentrates market
The consumption of HSCOC remains high in corn cultivation across North America. Due to the easy availability of raw materials, the US is widely using COCs as oil-based adjuvants for its pesticides. Thus, the crop oil concentrates market was dominated by North America in 2018. With the emergence of drones for weed control and their increasing adoption across the US for aerial herbicide application, the growth opportunities for COC manufacturers have risen globally.

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