DALLAS, Texas — As precision farming dealers place more emphasis on implement accessories, such a variable-rate application systems, boom sensing technology and nozzle efficiency, a robust market for agricultural adjuvants is being projected by a global market research firm.
The "Agricultural Adjuvants Market by Type (Activator and Utility), Application (Herbicides, Fungicides, and Insecticides), & Region — Global Trends & Forecast to 2019", published by MarketsandMarkets, projects market value to reach around $3183.04 million by 2019, at a CAGR of around 5.6% from 2014.
The market report defines and segments of the Agricultural Adjuvants Market with analyses and projection of the size and trends, in terms of value. It also identifies the driving and restraining factors for the market with analyses of opportunities, burning issues, and challenges.
The agriculture adjuvants market, which is a part of the wider agrochemical market primarily, includes, surfactants, oils, ammonium fertilizers, water conditioners and drift control agents. The global agricultural adjuvants chemicals market is the one of the fastest growing segment of the agrochemicals market. The Agricultural Adjuvants Market has grown exponentially in the last few years and growth is expected to continue.
Agrochemicals are raising this industry from a global perspective. Adjuvants are slowly helping to revolutionize the agrochemical business as the best tools for farmers to improve application, facilitate the dosage, and achieve more cost-effective, better targeted, and more environmentally acceptable pest control.
The agricultural adjuvants play an essential role for the performance of most herbicides, fungicides and insecticides, and facilitate by formulating the dosages from preventative, high dose applications to low dose, specifically targeted for curative applications. Agricultural adjuvants are produced and consumed in many countries such as the U.S., Brazil, France, China, and Australia.
The global Agricultural Adjuvants Market is primarily driven by factors such as, growing demand for agro-chemicals, adoption of precision farming and protected agriculture, and increased farm expenditure. On the other hand, shrinking arable land, changing farming practices and technology, and increasing attack of pests and diseases are also fuelling the agricultural adjuvants demand, globally.
The North American region accounted for the largest share ~40% of the global Agricultural Adjuvants Market in 2013. U.S. is projected to be the largest and the fastest-growing market in the region for the next 5 years. Agricultural adjuvants market in the U.S. is projected to grow at a CAGR of 5.6% and reach $1,081.21 million by 2019. Canada and Mexico contributed around 10% and 5%, respectively to the Agricultural Adjuvants Market in the North American region in 2013. The increasing crop protection chemical consumption and increasing farm expenditures are the major factors contributing to the growth of Agricultural Adjuvants Market in the country.
Latin America is projected to be the fastest-growing Agricultural Adjuvants Market globally for the period under consideration. The market is projected to grow significantly at a CAGR of 6.1% during 2014 to 2019. Adoption of protected agriculture, increasing precision farming practices, and changing farming technology are the major factors projected to drive the market for the next five years in the region. Key players such as Clariant International Ltd. (Switzerland) and Willbur-Ellis Company (U.S.), and Bandit Consolidated Inc. (U.S.) entered into acquisitions and expansions in order to expand their agricultural adjuvants business.
The leading participants in innovation and patent registration such as AkzoNobel N.V. (The Netherlands), Solvay SA (Belgium), Dow Corning (U.S.), Croda Chemicals (India), Tanatex Chemicals (Europe), and Helena Chemical Company (U.S.) are the largest players in the Agricultural Adjuvants Market.
The activator adjuvants market is projected to be the largest and is projected to grow considerably at a CAGR of 5.8% between 2014 and 2019. It accounted for around 77% of the total Agricultural Adjuvants Market in 2013. The surfactants segment in activator adjuvants is projected to be the fastest-growing market, at a CAGR of 6.0% between 2014 and 2019.