Agriculture Adjuvants Market Formulation (Suspension Concentrates, Emulsified Concentrates), Adoption Stage (In-Formulation, Tank Mix), Function (Activator Adjuvants, Utility Adjuvants), Application (Insecticide), Region - Global Forecast to 2028
Northbrook, IL 60062 -- (SBWIRE) -- 12/18/2023 -- According to a recent research report by MarketsandMarkets titled "Agriculture Adjuvants Market Formulation (Suspension Concentrates, Emulsified Concentrates), Adoption Stage (In-Formulation, Tank Mix), Function (Activator Adjuvants, Utility Adjuvants), Application (Insecticide), Region - Global Forecast to 2028," the global agriculture adjuvants market is projected to experience substantial growth. The market is anticipated to expand from USD 3.8 billion in 2023 to USD 4.8 billion by 2028, with a CAGR of 4.7% during the forecast period.
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Farmers are increasingly seeking ways to enhance the efficiency of crop protection programs while minimizing environmental impact. Adjuvants, which enhance the performance of pesticides and fertilizers by improving efficacy, coverage, and retention, play a crucial role in making farming more sustainable by reducing the overall chemical usage. The need for increased food production and sustainable crop protection through the adoption of agricultural adjuvants is on the rise.
Key Findings:
Cereals & Grains Dominate Market Share:
The cereals and grains crop type segment held the largest market share in 2022. With global cereal production reaching 2,786.6 million tons in 2022/23, the demand for agricultural adjuvants in this segment is growing. Cereals and grains, being staple foods worldwide, require protection from weather, pests, and weeds, driving the increased utilization of agricultural adjuvants.
Tank-Mix Adjuvants in Fastest-Growing Adoption Stage:
Tank-mix adjuvants, added separately into the spray tank along with pesticides or herbicides, are experiencing the fastest-growing adoption stage. This method ensures high performance, drift reduction, improved spray coverage, and increased absorption into target crops. Farmers are increasingly opting for tank-mix adjuvants for their customization capabilities, allowing adjustments on a case-to-case basis for desired performance characteristics.
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North America Leads Market Share:
North America held the largest share of the agricultural adjuvants market in 2022. The region's significant growth is attributed to the cultivation of industrial crops such as corn and soybean. Despite fluctuations in crop production, the demand for agricultural adjuvants in North America is witnessing substantial growth, with the United States being a key contributor to this trend.
Key Players: Major players in the agricultural adjuvants market include Corteva Agriscience (US), Evonik Industries AG (Germany), Croda International Plc (UK), Nufarm Limited (Australia), Solvay SA (Belgium), BASF SE (Germany), Huntsman International LLC. (US), Clariant AG (Switzerland), Helena Agri-Enterprises, LLC (US), WILBUR-ELLIS AGRIBUSINESS (US), Precision Laboratories, LLC (US), and CHS Inc. (US).
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