Agricultural Surfactants Market Synopsis
The Agricultural Surfactants Market is estimated to expand at a staggering CAGR over the assessment period (2018-2023) owing to the adoption of advanced technologies, asserts Market Research Future (MRFR). Agricultural surfactants are additives used in agrochemical formulations to improve the effectiveness of agricultural pesticides. They decrease the surface tension of water in the spray solution of pesticides, thus improving the spreading ability, wettability, penetration, and retention on the leaf surface.
Some of the key players operating the Agricultural Surfactants Market Insight are Clariant International AG (Switzerland), Stepan Company (U.S.), BASF SE (Germany), Solvay SA (Belgium), Nufarm Limited (Australia), Croda International Plc (U.K.), Helena Agri-Enterprises LLC (U.S.), AkzoNobel N.V. (Netherlands), DowDuPont Inc. (U.S.), Loveland Products Inc. (U.S.), Wilbur-Ellis Company LLC (U.S.), CEFIC (Belgium), Evonik Industries AG (Germany), Monsanto Company (U.S.), Huntsman International LLC. (U.S.), and more.
Drivers and Constraints Impacting the Market
Adoption of latest technologies such as agriculture 4.0 along with modern agricultural practices is anticipated to foster the market growth over the assessment period. Food security is a global concern in the recent days which is another factor propelling the market growth. Owing to the bio-degradable, environment-friendly, and less toxic characteristics, the bio-based surfactants market is predicted to expand during the review period and offer new growth opportunities to market players. Moreover, monetary burden due to high consumption of pesticides in order to increase product yield is likely to foster the global Agricultural Surfactants Market in the coming years.
Global Agricultural Surfactants Market: Segmental Analysis
The global Agricultural Surfactants Market has been segmented on the basis of substrate type, product type, application, crop type, and region.
By mode of product type, the market has been segmented into anionic, non-ionic, cationic, and amphoteric. The non-ionic segment held the maximum market share in 2017 due to its extensive consumption in fungicides, herbicides, and insecticides owing to its good spreading and good wetting characteristics.
By mode of substrate type, the market has been segmented into bio-based and synthetic. Among these, the synthetic agricultural surfactants segment held the maximum share in 2017. The bio-based surfactant segment is predicted to showcase robust growth rate owing to increasing preferences for eco-friendly activities.
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The North American region holds the largest market share in terms of market consumption owing to high expenditure on agriculture, established agricultural industry emphasis on technologically advanced farming products and techniques.
The European region is estimated to be the second largest market owing to the strong emphasis on R&D activities, technologically advanced products, and developed agriculture industry.
Asia Pacific is estimated to be the fastest growing market and is likely to maintain its dominance over the review period. Agricultural growth owing to the expanding population, agricultural dependent occupation population, fertile and arable land, profitable government schemes, and others are likely to contribute to the market growth in this region.
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Latin America is estimated to showcase a significant demand owing to the expanding agricultural industry in regions such as Argentina and Brazil. Meanwhile, the Middle East and Africa are predicted to exhibit a moderate demand over the assessment period.
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