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Agricultural adjuvants market growth driven by agrohemicals and precision farming
Jan. 26, 2015
According to the report"Agricultural Adjuvants Market- Global Trends & Forecast to 2019", the worldwide agricultural adjuvants industry will grow at 5.6% CAGR to reach $3,183.04 million by 2019.
The agricultural adjuvants market is primarily driven by factors such as, growing demand for agrochemicals, adoption of precision farming and protected agriculture, and increased farm expenditure. The agriculture adjuvants market is led by North America followed by Europe. The U.S. agriculture adjuvants market not only dominates North America, but also the global market. Latin America is projected to be the fastest-growing agricultural adjuvants market globally for the period under consideration. The market is projected to grow significantly at a CAGR of 6.1% during 2014 to 2019. Brazil and Argentina are the key countries from Latin America which holds a key position.
Agricultural adjuvants are classified into activator adjuvants and utility adjuvants. Activator adjuvants dominate the agricultural adjuvants market, having contributed around 78%-80% share in 2013, and are further categorized as surfactants, oils, and ammonium fertilizers. The surfactants segment holds the key share in activator adjuvants. The key application of agricultural adjuvants is in herbicides, followed by fungicides, insecticides, and others. Glyphosate dominates the consumption of adjuvants in herbicides.
Source: PRNewswire
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