Agricultural Wetting Agents Market is expected to grow at a CAGR of 4.5% by 2028
Global Industry Analysis
Agricultural wetting agents are surfactants that are used to improve the wetting and spreading of water and other agricultural chemicals in soil. They are used to improve the efficiency and effectiveness of agricultural inputs such as pesticides, herbicides, fertilizers, and other soil conditioners. Wetting agents are essential for effective crop management, especially in regions with low rainfall or high levels of evaporation. The global agricultural wetting agents market is expected to grow at a significant pace over the coming years, driven by the increasing demand for crop protection chemicals and the growing trend of precision farming.
Market Size:
The global agricultural wetting agents market size was valued at USD 839.4 million in 2023 and is expected to reach USD 1,204.4 million by 2028, growing at a CAGR of 4.5% from 2023 to 2028. The market growth is driven by the increasing demand for agricultural chemicals, the adoption of precision farming practices, and the rising need for sustainable agricultural practices.
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Drivers, Restraints and Challenges:
Drivers:
- Increasing demand for high crop yield: Agricultural wetting agents are used to improve the efficiency of crop protection products, and to improve the water management in the soil. They help in increasing the yield of crops by facilitating the penetration of water and nutrients into the soil, leading to better growth and development of crops.
- Growing awareness regarding sustainable farming practices: The use of agricultural wetting agents helps in reducing the water requirement of crops, which promotes sustainable farming practices. This is a key driver for the agricultural wetting agents market as there is increasing awareness among farmers about the importance of sustainable farming.
- Technological advancements: Advances in technology have led to the development of more effective and eco-friendly wetting agents, which are expected to drive the demand for agricultural wetting agents. These advancements have also led to the development of precision agriculture techniques, which require the use of wetting agents for efficient application of crop protection products.
Restraints:
- High cost of wetting agents: The cost of agricultural wetting agents is relatively high, which may limit their adoption, particularly among small-scale farmers. This can act as a restraint for the growth of the agricultural wetting agents market.
- Stringent regulations: The use of wetting agents is subject to regulatory restrictions, particularly in developed countries. This may limit the availability of wetting agents, particularly those that are not compliant with environmental and safety standards.
- Limited awareness among farmers: The benefits of using wetting agents are not well understood among farmers, particularly in developing countries. This may limit the demand for agricultural wetting agents in these regions.
Challenges:
- Competition from substitutes: Agricultural wetting agents face competition from other products such as soil conditioners, which may limit their adoption in the market.
- Environmental concerns: The use of wetting agents has been associated with environmental concerns such as soil contamination, which may limit their adoption. This calls for the development of eco-friendly wetting agents that are safe for the environment.
Agricultural Wetting Agents Market: Market Dynamics
From the last few years, the demand for agricultural wetting agents in the agriculture industry has witnessed high growth, owing to the requirement of high yield and bulk production of crops. Technological advancements in the agriculture industry are also a reason for an increase in the demand for agricultural wetting agents. The qualities associated with agricultural wetting agents such as reducing surface tension and dryness, and increasing crop yield, are also expected to create a surge in their demand.
Nowadays, the increasing trend of bio-based crops is also surging the demand for non-burning wetting agents, and can contribute to nutrient imbalances. In developing countries, governments are investing to support agriculturalists, and provide different technologies to increase crop production. These initiatives are also expected to escalate the growth of the agricultural wetting agents market over the forecast period.
Agricultural Wetting Agents Market: Segmentation
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Agricultural Wetting Agents Market: Regional Outlook
Asia pacific is expected to account for a major share in the agricultural wetting agents market. According to the FAO, in 2017, Asia Pacific accounted for more than 15% of the total global food and agriculture exports, and holds one-fifth of the world’s agriculture land. With such positive statistics, the agricultural wetting agents market in Asia Pacific is expected to experience high growth. Europe, followed by North America, is estimated to gain high traction in the agricultural wetting agents market.
With growing agriculture production in European countries, the demand of agricultural wetting agents is expected to increase over the forecast period. Many developing countries are agricultural-based countries. In the agricultural sector, there is a lot of field work such as reaping, sowing, weeding, and others. Apart from all these operations, chemical spraying with wetting agents is also a prominent task performed.
Latin American countries such as Argentina and Brazil, amongst others, are prominent in the agricultural export business. To ensure the best condition of crops, agriculturalists are opting for agricultural wetting agents. Such factors are projected to hike the demand for agricultural wetting agents in Latin America. Japan and MEA are expected to deliver moderate growth in the agricultural wetting agents market.
Agricultural Wetting Agents Market: Key Market Players
Examples of some of the market participants in the global agricultural wetting agents market identified across the value chain include:
- BASF SE
- Wilbur-Ellis Company
- Nufarm Limited
- BrettYoung Seeds Limited
- Dow Corning Corporation
- Huntsman Corporation
- Solvay S.A.
- Adjuvants Plus
- GarrCo Products Inc.
- Helena Chemical Company
- Interagro Ltd
- Momentive Performance Materials Inc.
- Tanatex Chemicals B.V.
- Winfield Solutions LLC
- Akzo Nobel Specialty Chemicals
- Croda International plc
- Evonik Industries
- Clariant International Ltd.
This report covers a thorough analysis of:
- Market segment
- Market dynamics
- Market size
- Supply demand
- Current Trends/Issues/Challenges
- Competition and related companies
- Technology
- Value chain
Regional analysis includes:
- North America (USA, Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, UK, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia and New Zealand)
- Japan
- Middle East and Africa (GCC countries, South Africa, North Africa)
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Report highlights:
- Detailed overview of the top markets
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- competitive landscape
- Strategies of major players and products provided
- Potential and niche segments, areas showing promising growth
- A neutral view of market performance
- Essential information for market participants to maintain and strengthen their market footprint
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