Agricultural Surfactants Market was reach USD 1,928.6 Million exhibiting a CAGR of 5.7% during the forecast till 2030
Agriculture surfactants are the additives used in agrochemical formulations to improve the effectiveness of agricultural pesticides. Agricultural surfactants decrease the surface tension of water in the spray solution of pesticides, and thereby improves its wettability, spreading ability, retention, and penetration on the leaf surface. Surfactants reduce the required quantity of pesticides since less active compounds are needed during foliar uptake, thus decreases the overall cost and pollution. They are applied to the crops by adding to the pesticides formulations such as herbicides, insecticides, fungicides, foliar nutrients, and plant growth regulators to provide effective crop protection.
Modern agricultural practices and adoption of advanced technologies such as “agriculture 4.0” a kind of precision farming is expected to be the major driver of the global agricultural surfactants market during the forecast period. Growing concern regarding global food security is another major factor likely to drive the global agricultural surfactants market during the forecast period. Monetary burden owing to the high consumption of pesticides to increase product yield are likely to surge the global agricultural surfactants industry, which reduces the amount of agrochemical to be used by increasing its retention, penetration and spreading ability. Furthermore, bio-based surfactants market is likely to witness a surge in growth owing to their environment-friendly, biodegradable, and less toxic characteristics and thus is expected to provide new growth opportunities to the market players during the forecast period.
However, genetically modified seeds ensure increased yield with the reduction in the use of agrochemicals and pesticides are likely to be the restraining factor for the growth of the agricultural surfactants market during the review period 2018-2023. Additionally, growing emphasis on sustainable farming is also slowing down the use of agrochemicals, and thus are likely to prove a threat to the market growth during the forecast period. Furthermore, the synthetic agricultural surfactants market is likely to witness declining growth during the forecast period owing to the growing preference for its bio-based counterparts.
Global Agricultural Surfactants Market Share in 2017, by Application
Source: MRFR Analysis
The global market is segmented by product type, substrate type, crop type, application, and region.
On the basis of the product type, the global agricultural surfactants market is segmented into non-ionic, anionic, cationic, and amphoteric.
On the basis of the substrate type, the global market is segmented into synthetic and bio-based.
On the basis of the crop type, the global market is segmented into cereals & grains, fruit & vegetables, and others.
On the basis of the application, the global market is segmented into herbicides, fungicides, insecticides, plant growth regulators, and others.
The global market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
North America held the largest market share of the global agricultural surfactants market in terms of market consumption due to established agricultural industry, high agriculture expenditure and a strong emphasis on technologically advanced farming techniques & products and is expected to show steady growth during the forecast period.
Europe is expected to be the second largest market for agricultural surfactants due to the developed agriculture industry and a strong emphasis on R&D innovations & technologically advanced products similar to North America and is expected to show steady growth during the forecast period
Asia Pacific is expected to be the fastest growing market for the agricultural surfactants and is likely to showcase an exponential growth during the forecast period. Huge agricultural growth due to expanding the population, fertile & arable land, major agriculture occupation dependent population, lucrative government schemes, growing agriculture-related R&D & farming techniques is likely to contribute significantly to the market growth over the forecast period.
Latin America market is expected to witness a significant demand for agricultural surfactants during the forecast period due to growing agriculture industry particularly in countries such as Brazil and Argentina.
The Middle East & Africa is expected to exhibit a moderate demand for agricultural surfactants during the forecast period.
Some of the prominent players in the global agricultural surfactants market are Nufarm Limited (Australia), Croda International Plc (U.K.), Stepan Company (U.S.), Monsanto Company (U.S.), Loveland Products, Inc. (U.S.), DowDuPont, Inc. (U.S.), BASF SE (Germany), AkzoNobel N.V. (Netherlands), Evonik Industries AG (Germany), Solvay SA (Belgium), Wilbur-Ellis Company LLC (U.S.), Huntsman International LLC. (U.S.), Clariant International AG (Switzerland), Helena Agri-Enterprises, LLC (U.S.), and CEFIC (Belgium).