PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460733
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460733
Market Overview
The value of the worldwide agricultural surfactants market was USD 1,798.4 million in 2023. It is projected to reach USD 2,734.6 million by 2030, growing at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030.
This can be credited to the improvements in the technologies and items utilized in agriculture, rising usage of bio-based surfactants, increasing need for advanced yield and feedstock quality, rising demand for crop protection, and escalating count of helpful government schemes for the agriculture industry. Additionally, the rising need for agrochemicals and the growing acceptance of precision farming methods throughout the globe contribute to the industry development.
Agricultural surfactants are used to improve the performance of pesticides, herbicides, and fungicides by reducing surface tension and enhancing spreading and penetration on plant surfaces. With the rising demand for effective pest management solutions, the use of surfactants is increasing.
Key Insights
In 2023, the non-ionic category had a 35% revenue share, because of their security for plants, stability in water, and efficiency in decreasing surface tension.
Extensively utilized in herbicidal sprays for dispersing, wetting, and spreading, non-ionic surfactants are steady in cool water, less poisonous to plants, and improve overall productivity by decreasing water runoff.
The bio-based substrates category is projected to advance at a rate of 6.6% because of growing customer preference for ecological products.
Agrochemical makers are launching biodegradable products in reply to ecological concerns.
Bio-based substrates are less poisonous and release lower GHG emissions compared to petrochemical-based substitutes.
In 2023, the cereals & grains category held the largest revenue, and it is projected to continue with the dominant because of the increasing usage in Asia and North America.
Customers are becoming progressively aware of the health advantages of rice, corn, wheat, barley, and oats, thus contributing to the trend.
Governments are providing grants and monetary benefits to agriculturalists growing these extremely demanded food crops, further supporting their prominence.
In 2023, the herbicides category held the largest revenue share, and the category is projected to dominate the market in the future as well.
The category growth can be credited to the tremendously high utilization of herbicides, such as glyphosate and oxyfluorfen.
The APAC region will witness a 6.8% growth rate, boosted by its huge population's high food requirement and ample arable land.
Increased local manufacturing and vendors of crop protection solutions contribute to the region's growth in agrochemical usage.
Government schemes supporting the agriculture sector further bolster the adoption of agrochemicals, aiming for higher productivity.
The rising investment of foreign businesses in making manufacturing plants here credited to the cheap labor and simple obtainability of raw materials drives the regional industry development.
The North American region holds a substantial revenue share in the agricultural surfactants industry, because of the existence of huge industry companies, obtainability of huge arable land, advanced agriculture industry, great importance on technically enhanced products, and growing preference for bio-based surfactants credited to the well-being concerns.