Agricultural Surfactant Market - Growth, Trends, Covid-19 Impact, And Forecasts (2023 - 2028)
The agricultural surfactant market is projected to register a CAGR of 7.2% during the forecast period (2022-2027). The COVID-19 outbreak impacted the agricultural surfactant market. Major regions like North America witnessed the impact of the pandemic, such as sudden shutdown, collapsed supply chain, and government restrictions.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Agricultural Surfactant Market - Growth, Trends, Covid-19 Impact, And Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06420654/?utm_source=GNW
The agricultural surfactant market is projected to register a CAGR of 7.2% during the forecast period (2022-2027).
The COVID-19 outbreak impacted the agricultural surfactant market. Major regions like North America witnessed the impact of the pandemic, such as sudden shutdown, collapsed supply chain, and government restrictions. Increasing usage of biobased surfactants is leading to investments in the market.
Agricultural surfactants are mainly used with water-based herbicide spray solutions as they accentuate the emulsifying, dispersing, spreading, wetting, or other surface modifying properties of liquids. Surfactants are almost always present in herbicide treatment solutions to improve spray droplet retention and penetration of active ingredients into plant foliage. The increasing usage of agricultural surfactants is due to the high adoption of precision farming and protected agriculture.
Agricultural Surfactant Market Trends
Rising Demand for Food and Shrinking Land Driving the Market
The global population is increasing exponentially, and every day, nearly 200,000 people are being added to the world’s food demand. The world’s human population increased nearly fourfold in the past 100 years, and it is projected to reach 9.2 billion by 2050. Supplying food to this growing population has become a global threat. Farmland per capita in 2030 is expected to decrease to 1800 m² from 2,200 m² in 2005. Various crop pests are causing 10-16% of global crop losses annually, worsening the scenario. Therefore, farmers are adopting crop protection as the key strategy to meet the growing food demand globally. The demand for crop protection chemicals is driving the market for agricultural surfactants.
North America Dominates the Agricultural Surfactant Market
North America holds the largest part of the agricultural surfactant market, at 35%. The region is expected to grow steadily during the forecast period, especially with the various government initiatives to increase yield and maintain a continuous supply of raw materials for the food, feed, and biofuel industries. Major factors driving the growth are the increasing usage of bio-surfactants and the abundant availability of raw materials. However, environmental concerns and health and safety issues are anticipated to hinder the market’s growth. Their usage as lung surfactants in the Neonatal Respiratory Distress (NRD) syndrome is likely to act as an opportunity in the future. The United States dominated the market across the region due to the expansion of industries, such as personal care and food processing.
Agricultural Surfactant Market Competitor Analysis
The market for agricultural surfactants is fragmented. The key players in the market have been following strategies to explore new regions through acquisitions, new product launches, expansions and investments, agreements, partnerships, collaborations, and joint ventures. Investment in R&D is another strategy adopted by market leaders. Some of the major players in the market are Evonik Industries AG, Dow Corning Corp., AkzoNobel NV, and Solvay SA (Belgium).
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