Northrook, IL -- (SBWIRE) -- 10/17/2019 -- The agricultural adjuvants market is projected to reach USD 4.04 billion by 2023, from USD 3.13 billion in 2018, at a CAGR of 5.24%. The agricultural adjuvants market is projected to grow at a steady rate due to factors such as the rising demand for sustainable pesticide solutions, increasing demand for greener adjuvant solutions, and the benefits imparted by adjuvants in the modification of pesticide properties. The major factors restraining the growth of agricultural adjuvants are the inconsistent government regulations, the increased production cost for end-use farmers, and rising environmental concerns associated with crop protection chemicals.

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The utility adjuvants segment is projected to be the fastest-growing from 2018 to 2023

Utility adjuvants are a recent addition to the adjuvants sector, and hence, their awareness and usage have been gradually increasing, especially across North American and European countries. Utility adjuvants is the major function targeted by larger companies in the agricultural adjuvants market, recently. The hazards caused to the environment by chemical pesticide residues can be alleviated with the help of adjuvant solutions. Phasing out of highly toxic pesticides in regions such as Europe and Asia Pacific has proved to be a major restraint for the adjuvants market, and has opened new avenues for the introduction of less toxic biological adjuvant products.

The cereals & grains segment is estimated to dominate the market in 2018

The market for the use of agricultural adjuvants is dependent on the consumption of pesticides by crops. Pesticide consumption by cereals and grains is the highest owing to the high acreage under their cultivation. Also, owing to the increasing demand for industrial crops such as corn, wheat, and sorghum, the adoption of adjuvants technology for these crops is high. The global production of cereals & grains has increased, and so has the stringency of regulations pertaining to pesticide residue on food. Also, standard agricultural practices have been set so that the produce can qualify for better price grades and this has also made an impact on the lesser usage of pesticides using technologies such as biologicals and adjuvants. The application of agricultural adjuvants results in an increase in the efficacy of pesticide action and hence, agricultural adjuvants help in maintaining crop quality according to the requirements in compliance with domestic/international regulations and export standards for product sales.

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North America is estimated to dominate the agricultural adjuvants market in 2018

The North American market for agricultural adjuvants is driven by the wide-scale application of pesticides for crops such as corn and soybean, coupled with the high adoption rate of adjuvant technology in the US and Canada. The market for agricultural adjuvants in the Asia Pacific region is projected to grow at the highest CAGR from 2018 to 2023. The increasing awareness of the benefits of using adjuvant in insecticides is expected to drive the growth of the Asia Pacific agricultural adjuvants market.

The global market for agricultural adjuvants is dominated by large players such as DowDuPont (US), Solvay (Belgium), Evonik Industries (Germany), Nufarm (Australia), and Croda International (UK). Other key players in the agricultural adjuvants market include BASF (Germany), Akzonobel (Netherlands), Huntsman Corporation (US), Helena Agri-Enterprises (US), Wilbur-Ellis (US), Stepan Company (US), Clariant (Switzerland), and BRANDT (US).

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