Chinese pesticide spray additives market volume to hit 500,000 tons
Date:06-04-2019
According to a speech from deputy general agriculturist, Zhang Wenjun, from China’s ICAMA (Institute for the Control of Agrochemicals, Ministry of Agriculture) at the second Pesticide Formulation and Adjuvant Congress held in Leshan, Sichuan, China, today, the volume of the Chinese pesticide adjuvant market exceeds 500,000 tons per year. With the promotion of aerial application using new and precision application techniques, experts are estimating that the volume of spray additives may reach 500,000 tons.
Comparing the advanced pesticide development level in the world, there is still a gap in either pesticide manufacturing or the brand value between China and other developed countries. The increased environmental awareness, the growing demand for high-efficient, low-toxic and low-residue pesticides and the ongoing trend of green pesticide development are driving the development of the functionality of adjuvants, which provides pesticide formulations and adjuvants with great business opportunities, as well as challenges.
According to the figures, a total of over 3,000 kinds of substances are used in pesticide adjuvants, where pesticide adjuvants prevalent in the Chinese market involve approximately 200 kinds of such substances.
According to statistics, the global pesticide adjuvant market value of 2016 was US$2.98 billion. While its compound annual growth rate is forecast to be 5.9%, the market value is expected to reach $4.21 billion in 2022. As the volume of the Chinese pesticide adjuvant market has exceeded 500,000 tons, potential for a great spray adjuvant market is foreseen.
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