Agriculture Adjuvant Market size is estimated to grow a CAGR above 5.9% over the forecast timeframe and reach a market value of around USD $ 5.0Bn by 2028
LONDON, Jan. 12, 2022 (GLOBE NEWSWIRE) — North America dominates; Asia Pacific registers fastest growing CAGR for
Asia Pacific, on the other hand, is expected to have the fastest growing CAGR in the agriculture adjuvant market. As globalization progressed, it became necessary for countries in the APAC to harmonize their pesticide regulatory management in order to stay ahead and competitive in the international marketplace, improve trade, and protect their population and the environment from low-quality, highly hazardous pesticides. With such notable developments, it ultimately boosts the growth of the APAC regional market, contributing to the overall growth of the agriculture adjuvant market.
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COVID-19 impact on global agriculture adjuvant market
According to an International Labor Organization report, the pandemic had a negative impact on labor-intensive crop production and processing due to labor shortages and a temporary halt in production. Furthermore, the pandemic had a negative impact on the livelihoods of millions of plantation workers in developing countries engaged in export-oriented, labor-intensive agricultural production. Furthermore, during the COVID-19 era, agricultural experiences had the highest incidence of working poverty. A quarter of the workers in the sector live in extreme poverty. Despite playing an important role in natural economies, providing a link to global agricultural production and trade structures, and feeding the world, many agricultural workers and their families face poverty and food insecurity.
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Segmental Outlook
The global agricultural adjuvant market is segmented based on function, application, formulation, adoption stage, and crop type. Based on function, the market is segmented as activator adjuvant and utility adjuvant. Based on activator adjuvant, the market is sub segmented as surfactants and oil adjuvant. By utility adjuvant, it is further segmented as compatibility agents, buffers/acidifiers, antifoam agents, water conditioning agents, drift control agents, and others. Furthermore, application segment is segregated as herbicides, insecticides, fungicides, and among others. By formulation, the market is classified into suspension concentrate and emulsifiable concentrate. Adoption stage is bifurcated into tank-mix and in-formulation. Crop-type is segmented as cereals and grains, fruits and vegetables, oilseeds and pulses, and other crops.
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Competitive Landscape
Some of the leading competitors are Clariant AG, AlzChem Group AG, DuPont de Nemours, Inc., Wilbur-Ellis Company Inc., Brandt Consolidated, Inc., BASF SE, Huntsman Corporation, and among others
Some of the key observations regarding agriculture adjuvant industry include:
- In March 2020, Clariant AG announced collaboration with Floreon-Transforming Packaging Limited to expand the performance properties and market potential of biopolymers while maintaining environmental benefits. Clarian’s collaboration with Floreon, along with Clarian’s EcoCircle, constitutes a corporate-wide initiative that supports the transition from a one-way plastics value chain to a circular plastic economy, with contributions from the entire value chain.
- In March 2021, FMC Corporation, a pioneer in agricultural science, collaborated with another sustainable agriculture solutions and product provider named UPL Ltd to increase access of “Rynaxypyr” active to crop growers worldwide and increase manufacturing capacity of this critical molecule.
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