Soil wetting agents market to grow at a CAGR of 6.20% during 2015-2020

The report “Soil Wetting Agents Market”shows that the soil wetting agents market is estimated to be valued at USD 95.86 Million in 2015. It is projected to grow at a CAGR of 6.20% from 2015 to reach USD 129.5 Million by 2020.

The primary factors driving the soil wetting agents market are the increasing application in turf care as a penetrant and humectant, and adoption of precision farming and protected agriculture. The growing turf care application, especially in North America and Europe, drives the soil wetting agents market at a high rate. Protected agriculture is mainly practiced in greenhouses and nurseries, and ornamental horticulture. The intensive use of agrochemicals in protected agriculture drives the use of soil wetting agents, which further propels the growth of the soil wetting agents market.

Based on the form of soil wetting agents, the soil wetting agents market is led by liquid form segment, followed by granular form segment in terms of value in 2014. The effect of application of liquid soil wetting agents on soil is faster than granular soil wetting agents.

The soil wetting agents market is segmented on the basis of application into turf care and agriculture. In terms of applications, use of soil wetting agents in turf care was most profound in terms of value in 2014. The market is driven by changing notions about agriculture, shifting from conventional to new methods of farming coupled with the need to increase agricultural productivity.

On the basis of end-use products, the soil wetting agents market is classified into crop protection and fertilizers. The soil wetting agents in crop protection products is driven by the growing incidence of droughts and need to increase the yield to meet the growing demand for food.

The market is also segmented on the basis of region into North America, Europe, Asia-Pacific, Latin America and the Rest of the World (RoW); this has been further segmented on the basis of their key countries. The market for soil wetting agents in the Asia-Pacific depict a strong scope for development due to adoption of better farming practices in order to meet the food requirements of the growing population.

Stringent regulations in the EU and USDA are limiting the use of soil wetting agents in agriculture, and hamper the growth of the market. Despite the fact that the crop protection market has been recording growth over the years, the industry is expected to be hindered by new EU and FAO regulations. The soil wetting agents market is fragmented and competitive, with a large number of players operating at regional and local levels.

The key players in the market adopted acquisitions, expansions, and investments as their preferred strategies. The key players include Nufarm Limited (Australia), Brettyoung Seeds Limited (Canada), The Wilbur Ellis Company (U.S.), and BASF SE (Germany).