Agricultural adjuvants market is projected to reach $3,778.9 million by 2023. The market growth is driven by the increasing demand for agricultural adjuvants to improve pesticide efficacy and, thereby, crop yield.the agricultural adjuvants market is categorized into activator and utility adjuvants. Activator adjuvants held a larger market share in 2017, accounting for more than 65.0% in terms of the sales volume. This can be attributed to the advantages offered by these adjuvants, such as higher mobility and reduced surface tension and rainfastness. Moreover, certain activator adjuvants can perform functions of utility adjuvants.
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The agricultural adjuvants market is also classified into built-in and tank-mix formulations. Of the two, built-in formulations accounted for more than 80.0% volume share in the market in 2017. Globally, agrochemical applicators and farmers prefer built-in formulations over tank-mix formulations due to their advantages, such as low cost, ease of application, and negligible chances of improper mixing.
Agricultural adjuvants find major application in insecticides, fungicides, herbicides, and others. In terms of volume, herbicides accounted for the largest share in the agricultural adjuvants market in 2017. Herbicides have wide application in cereals and broadleaf crops. Moreover, they are compatible with a wide range of adjuvants and help increase the crop yield
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Globally, the agricultural adjuvants market is expected to witness the fastest growth in APAC, with 6.2% CAGR during the forecast period. This growth can be majorly attributed to the presence of emerging economies, such as India and China, in the region. Additionally, the growing penetration of adjuvants and the introduction of novel, low-cost products are expected to drive the growth of the APAC agricultural adjuvants market in the near future.
Some of the major players operating in the global agricultural adjuvants market are DowDuPont Inc., BASF SE, Akzo Nobel N.V., Solvay S.A., Clariant AG, Croda International PLC, Brandt Consolidated Inc., Huntsman Corporation, Evonik Industries AG, Stepan Company, Wilbur-Ellis Holdings Inc., and Helena Agri-Enterprises LLC.