According to the latest research report, the global crop oil concentrates market size is expected to reach near about 310 Million by the end of the year 2028 by registering a CAGR of 4.25% from 2021 to 2028. A crop oil concentration is a mixture of a surfactant made from petroleum-based oil and other ingredients. This crop oil concentration is used to improve the strength and quality of herbicides, insecticides, and fungicides. The worldwide crop oil concentrates market is expected to develop due to the rising usage of herbicide-tolerant crops.
The agricultural industry's growing desire for high surfactant oil concentrates is adding fuel to the growth of the worldwide crop oil concentrates market. Market development is likely to be aided by an increase in agricultural yield. Crop oil concentrates producers are also putting a premium on innovation. All of these factors are expected to result in significant potential for the global market growth. Moreover, the worldwide market is projected to be hampered by fluctuations in raw material costs. Precision farming has opened up new opportunities for crop oil concentrates producers.
This report contains all the information on the global crop oil concentrates market scope, research, and market strengths. The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the global crop oil concentrates market analysis and forecast to 2028 is also included in the report.
Covid 19 Analysis
The breakout of COVID-19 has resulted in regional lockdowns, restrictions at borders, and transportation network breakdowns. Every aspect of the economy has been impacted by the COVID-19 pandemic. However, the global demand for crop oil concentrates has been increased due to the COVID-19 pandemic.
With the increase in the uses of pesticides and plant growth regulators, the worldwide crop oil concentrates industry is likely to witness tremendous expansion. The capacity of these compounds to improve herbicide deposition and distribution, by increasing efficacy, is encouraging farmers to utilize crop oil concentrates which can be considered as the major driving factor for the global crop oil concentrates market demand. The market is expected to increase rapidly due to technological improvements such as the use of drones and other precision farming technologies for crop protection and nutrition.
Technological improvements include the use of drones and other precision farming approaches in crop protection and nutrition, as well as the capacity of these chemicals to promote herbicide deposition and spread, ultimately enhancing efficacy, are likely to create lucrative opportunities for the crop oil concentrates market manufacturers.
The availability of alternative substitutes such as non-ionic surfactants and vegetable-oil concentrates; are alternatives to crop oil concentrates which can be considered as a key limitation on the market expansion. The negative impacts of petroleum-based goods on human health and the environment are also preventing crop-oil concentrates from being used which can be considered as a major restraint of the global market.
The fluctuation in the prices of the raw material is a major challenge for the key players of the global market trends during the forecast period.
Cumulative Growth Analysis
The united states dominate the North American crop oil concentrates market because of the increasing use of agricultural techniques such as plant biotechnology and precision farming in the area, while the South American area is expected to rise over the forecast period of 2021-202 due to the presence of enhanced distribution channels and market competitors, as well as increased herbicide usage in the region
Value Chain Analysis
According to the reports, the global crop oil concentrates market is segmented on the basis of application, surface concentration, crop type, and region. On the basis of application, the global market is further distributed into herbicides, insecticides, fungicides, and others. In 2020, herbicides held the greatest market share, and it is expected to continue to do so throughout the forecast period. The expansion of the herbicides is aided by the increasing area under cultivation of herbicide-tolerant crops and strong weed resistance to herbicide formulations. On the basis of surface concentration, the global market is segmented into less than 15%, between 15% to 25%, and greater than 25%. Greater than 25% segment accounted for the majority of the share in the global crop oil concentrates market. The price and quality of the products are determined by the surface concentration. The surfactant gains advantage from a high surface concentration, but the cost of the product is greater as compared to others.
On the basis of crop type, the global market is segmented on the basis of cereals & grains, oilseeds & pulses, and fruits & vegetables. Cereals and grains accounted for the majority of the global market share, due to the rising cereal and grain consumption among consumers around the globe.
The market is segmented on the basis of the application, surface concentration, crop type, and region. The global market is expected to witness decent growth during the forecast period.
Based on the application, the market is segmented into herbicides, insecticides, fungicides, and others.
Based on the propulsion types, the market is segmented into cereals & grains, oilseeds & pulses, and fruits & vegetables.
According to the reports, on the basis of region, the global crop oil concentrates market is segmented into North America, Europe, Asia Pacific, and the rest of the world. In 2020, North America held the largest crop oil concentrates market share. The United States, Canada, and Mexico are the most important country-level marketplaces. Crop oil concentrates manufacturers in North America are focused on the most up-to-date agricultural practices, which is projected to increase farmer demand for crop oil concentrates in this region.
In the worldwide crop oil concentrates market; Asia-Pacific is predicted to hold the second-largest market value. In the Asia-Pacific region, agriculture is extremely important. The worldwide crop oil concentrates market is likely to be driven by a growing desire for high surfactant oil concentrate in the agriculture industry of the Asia Pacific region.
The global market is highly competitive due to the presence of the major key players such as Croda International Plc. (UK), BASF SE.(Germany), etc in the market. The key strategies of these players include acquisitions & mergers, new product development, innovation, uses of modern technology, etc.
The following report comprises of –
Rest of the World