North America Agriculture Adjuvants Market - Growth, Trends and Forecasts (2017 - 2022)
Agriculture adjuvant is a material added to a tank mix to help modify the action of an agrochemical or the physical characteristics of the mixture. Major functions of adjuvant are to help deliver the agrochemical to target, maximize uptake of agrochemical into the target and protect against degradation. The market was worth $884.9 million in 2014. It is estimated to grow at a CAGR of 5.7% during the forecast period of 2015-2020 and reach $1230.6 million by 2020.
Growth in adoption of precision farming is the major factor driving market growth. Increased cost of agriculture chemicals and pressure on farmers to increase yield has paved way for use of agriculture adjuvant. Adjuvant is also added to prevent losses from diseases and pests. GM seeds, which ensure increase in yield and reduction in use of agrochemicals, are restraining the market growth. Moreover, emphasis on sustainable farming and increase in its practice is gradually slowing down application of chemicals in agriculture.
Pesticide based adjuvant is the fastest growing segment during the forecast period due to increased priority on post harvest wastage reduction, especially in developing countries. Activator adjuvants are the major type accounting for 78% of the market. Oil based adjuvant is estimated to be the fastest growing segment.
North America is the largest market accounting for around one third of the global market share. The region is expected to grow at a steady CAGR of 5.7% during the forecast period due to governmentâ€™s aim to increase yield and maintain continuous supply of raw materials to food, feed and biofuel industry. United States is the major market for agriculture adjuvants, followed by Canada and Mexico. Canada with increasing government support and growing agricultural sector would see the highest rate of growth during 2015-2020.
Key players in the market are focused on new product launch to cater to a wider consumer base and expand market share. Investment in research and development of cheap effective products is another strategy adopted by market leaders. Major players in the market are Evonik Industries AG, Dow Corning Corp, AkzoNobel N.V. etc.
Key Deliverables in the Study
Market analysis for the North America Agriculture Adjuvants Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the North America Agriculture Adjuvants Market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to identify the regions that are still untapped