ID: MRFR/AGR/9070-HCR | April 2021 | Region: Global | 90 pages
The global crop oil concentrates market size is projected to reach approximately 310million by 2028, at a CAGR of 4.25% from 2021 to 2028. A crop oil concentrate is a blend of a surfactant derived from petroleum-based oil. Crop oil concentrates are highly preferred to increase the strength and quality of herbicides, insecticides, and fungicides. Increasing adoption of herbicide-tolerant crops is the factor supporting the growth of the global crop oil concentrates market. Growing preference towards high surfactant oil concentrate in the agriculture industry further fuels the development of the global crop oil concentrates market.Fluctuations in the raw material prices are expected to hinder the growth of the global crop oil concentrates market. The advent of precision farming has created an opportunity for crop oil concentrates manufacturers. An increase in the production of crops is further expected to support market growth. Crop oil concentrates manufacturers are also focusing on innovation. All the factors are anticipated to create substantial growth opportunities for the growth of the global crop oil concentrate market.
The outbreak of COVID-19 has resulted in the lockdown across regions, border restrictions, and breakdown of transportation networks. The COVID-19 outbreak has affected every sector of the economy. The outbreak of COVID-19 has resulted in a surge in demand for crop oil concentrates around the world.
The global crop oil concentrate market has witnessed substantial growth in recent years. The pandemic has created lucrative opportunities for crop oil concentrate manufacturers across the globe. The advent of precision farming can create opportunities for tank mix formulations. Crop oil concentrates can either in the form of vegetable oil or petroleum-based oil and 15-20% emulsifier; these enhance the performance of products. Furthermore, the rise in demandfor crop oil concentratesamong consumers is further expected to amplify the growth of the global crop oil concentrates market during the forecast period.
Increasing adoption of herbicide-tolerant crops
By Crop Type