Increase in Demand for Green Solutions Drives Agricultural Surfactants Market

The agricultural surfactants market is projected to reach USD 1.88 Billion by 2022, growing at a CAGR of 6.46% from 2017. The growth of the agricultural surfactants market is driven by factors such as the growing demand for agrochemicals and the adoption of precision farming & protected agriculture.

Key players in the agricultural surfactants market include DowDuPont (US), BASF (Germany), AkzoNobel (Netherlands), Evonik (Germany), and Solvay (Belgium). Huntsman Corporation (US), Nufarm (Australia), Clariant (Switzerland), Helena Chemical Company (US), Croda International (UK), Stepan Company (US), and Wilbur-Ellis Company (US) are a few other key market players who also hold a significant share of the agricultural surfactants market.

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DowDuPont produces and sells a wide range of products through its business units that include agriculture, materials science, and specialty products, globally. The company operates through eight segments-agriculture, performance materials & coatings, industrial intermediate & infrastructure, packaging & specialty plastics, electronics & imaging, nutrition & biosciences, transportation & advanced polymers, and safety & construction. The agriculture segment has a diverse worldwide network that markets and distributes the companys brands to customers, globally.

Solvay is a chemical and advanced materials company and is involved in delivering innovative sustainable products and solutions. The company offers its products & services to diversified markets through segments such as agro, feed & food; automotive & aerospace; building & construction; consumer goods & healthcare; electrical & electronics; resources & environment; and industrial applications. It offers surfactants through its agro, feed & food segment. The company has offices across 58 countries at 139 locations, along with 21 major research and innovation centers across North America, Europe, Asia Pacific, and South America; this enables it to have a global market presence. In July 2015, Solvay opened an alkoxylation plant in Singapore, the largest in Asia. This expansion helped to cater to the growing demand for specialty surfactants in this region

AkzoNobel is a major producer and distributor of specialty chemicals, paints, and coatings. The company operates its business through three segments-decorative paints, performance coatings, and specialty chemicals. The company offers surfactants through its specialty chemicals segment for oil & gas, metals & mining, pharmaceutical, and agrochemical industries. AkzoNobel has a major presence in North America, Europe, South America, and the Asia Pacific. It has subsidiaries in more than 80 countries and supplies its products to a large number of business partners. In May 2017, AkzoNobel opened a new monochloroacetic acid (MCA) plant in Gujarat, India. This new plant would have the capacity of 35.27 KT/year (32,000 tonnes/year). The demand for MCA is growing in Asian countries, and it finds applications in agrochemicals, adhesives, pharmaceuticals, thermo-stabilizers, surfactants, and cosmetics.

Most agricultural surfactants are non-ionic and are used for general wetting and spreading. Non-ionic surfactants reduce the surface tension and contact angle of individual spray droplets; they are most compatible with water-soluble herbicides, insecticides, fungicides, and plant growth regulators (PGRs).

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 The fungicides segment is projected to grow at a higher CAGR during the forecast period; this growth is attributed to the growing usage of surfactants in fungicide formulations to improve the adhesion of fungicides to the crops. In addition, combining fungicides and surfactants increases the efficacy of the existing control options by helping fungicides stick to plant surfaces.

The North American region accounted for the largest share due to the presence of players such as DowDuPont (US), Huntsman Corporation (US), Helena Chemical (US), and Stepan Company (US). Moreover, the presence of these companies in technologically advanced countries such as the US and Canada results in an increase in the adoption of surfactants in agriculture.

The South American region is projected to grow at the highest rate during the forecast period. This growth can be attributed to the increasing need for high-quality surfactants for the agricultural application.

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Created on May 6th 2020 07:14. Viewed 293 times.

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