Agricultural Adjuvants Market Research Report: By Function (Activator Adjuvants, Utility Adjuvants), Chemical Group (Alkoxylates, Sulfonates, Organosilicones), Formulation (Built-In, Tank-Mix), Application (Herbicides, Insecticides, Fungicides), Crop Type (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables) - Global Industry Analysis and Demand Forecast to 2030
New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agricultural Adjuvants Market Research Report: By Function, Chemical Group, Formulation, Application, Crop Type - Global Industry Analysis and Demand Forecast to 2030" - https://www.reportlinker.com/p05982500/?utm_source=GNW
The global agricultural adjuvants market is predicted to reach a value of $5,485.1 million by 2030, increasing from $3,106.7 million 2019, exhibiting a 5.5% CAGR during the forecast period (2020–2030), as stated by a report . The market is growing due to the rising demand for agrochemicals, surging investments in the agricultural sector, and increasing population that is creating high demand for food products. The market is divided into organosilicones, sulfonates, and alkoxylates, on the basis of chemical group.
Among all these, the alkoxylates division accounted for the largest share of the agricultural adjuvants market in 2019. Alcohol-based derivatives of alkoxylates are preferred widely with pesticide formulations, which can be ascribed to their non-iconic/non-reactive nature. These chemicals are majorly used for treating Chinese apple, biddy bush, tobacco weed, and giant bramble. The division is further predicted to dominate the market during the forecast period, owing to the advantageous properties of these chemicals.
In terms of application, the agricultural adjuvants market is categorized into fungicides, herbicides, and insecticides. Among all these, the herbicides category accounted for the largest share of the market in 2019 and is expected to contribute the largest revenue share of the market during the forecast period as well. When agricultural adjuvants are used in herbicides, the domain registers high economic benefits and incentives in farmlands. The rising demand for herbicides is predicted to result in the growth of the market in the coming years.
North America held the major share of the market in 2019, owing to the regulatory support to adjuvant manufacturers and other related agrochemical companies, customer appreciation, high presence of local manufacturers, and availability of an extensive range of products. Apart from this, the Asia-Pacific (APAC) region is projected to witness the highest CAGR during the forecast period, due to the rapidly rising utilization of agrochemicals in India and China. Moreover, the surging population in APAC is also driving the regional domain.
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