In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWS|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~7% |
|
Base Year Market Size (2022) |
~ USD 2 Billion |
|
Forecast Year Market Size (2033) |
~ USD 3 Billion |
The global agricultural surfactants market is estimated to garner a revenue of around USD 3 Billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of nearly USD 2 Billion in the year 2022. The growing demand for non-ionic surfactants is estimated to boost market growth. The use of surfactants decreases surface tension thereby increasing the efficiency of irrigation through increasing moisture retention. The application of non-ionic surfactants increased the irrigation profit by 20%.
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An increase in R&D initiatives to produce new products and goods is estimated to promote the growth of the market. As per Economic Research Service 2019, the total public agricultural R&D spending in the U.S was USD 5.16 billion.
The global agricultural surfactants market is segmented and analyzed for demand and supply by application into herbicides and fungicides. Out of which, the herbicides segment is anticipated to hold the largest market size by the end of 2033 on the back of the improvement of spray droplet absorption and penetration of active contents into the plant foliage is estimated to fuel the market growth. The addition of adjuvants such as surfactants to the spray solution will change the density and viscosity of droplets thus improving the penetration and wettability of the plants which directly impacts the evaporation rate of droplets. As per the observations, the density of glyphosate solution is increased by 2% with the addition of synthetic adjuvant when compared to glyphosate alone.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years
Regionally, the global agricultural surfactants market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2033 owing to government initiatives to increase the crop yield in order to provide a constant supply of raw materials for food, feed, and biofuel industries. It is observed that 40% of corn from the U.S ends up in the production of biofuel.
The global agricultural surfactants market is further classified on the basis of region as follows:
Our in-depth analysis of the global agricultural surfactants market includes the following segments:
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By Type |
|
|
By Application |
|
|
By Substrate Type |
|
|
By Crop Type |
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FREQUENTLY ASKED QUESTIONS
Elevating demand for food and scarcity of land are the major factors driving the growth of the agricultural surfactants market.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2033.
Use of genetically modified seeds and limited use of chemicals and pesticides are the major factor driving the growth of the agricultural surfactants market.
The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
The major players in the market are BASF SE, AkzoNobel N.V., Solvay Group, Wilbur-Ellis Company, Croda International Plc., The DOW Chemical Company, Evonik Industries AG, Huntsman Corporation, Nufarm Limited, Helena Agri-Enterprises, LLC.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, substrate type, crop type, and by region.
The herbicides segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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