The pesticide inert ingredients market is projected to reach USD 4.7 billion by 2023, from USD 3.5 billion in 2018, at a CAGR of 6.14% during the forecast period. The market is driven by factors such as the increasing demand for specific inert ingredients in pesticide formulation and the capability of inert ingredients to improve the efficacy of pesticide application.
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Pesticide inert ingredients for the herbicide segment is estimated to have the highest share during the forecast period.
Pesticide-inert ingredients are used in herbicide spray solutions to enhance the emulsifying or other surface-modifying properties of liquids. Inert ingredients are mostly present in herbicide treatment solutions with the aim of improving the penetration of active ingredients into plant foliage or reducing the foaming activity of the spray solution. Also, with reference to the herbicides available on the market, the amount of inert ingredients used in herbicide solutions is higher compared to insecticides and fungicides.
High adoption of inert ingredients in the North American region also drives the overall pesticide inert ingredient market. The major use of the formulation of herbicides is in the form of emulsifiers and solvents.
The dry segment, in terms of forms of pesticide inert ingredients, is projected to witness the fastest growth during the forecast period.
Dry inert ingredients are available in various forms, such as wettable powders, dust, granules, and talc. The dry form of inert ingredients is primarily used in the formulation of herbicides and rodenticides. Dry forms of pesticides help attract rodents in the fields and are thus preferred in agricultural fields for repelling and skilling rodents. The high share of herbicides in the pesticide industry also drives the market for dry, inert ingredients.
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The Asia Pacific is projected to witness the fastest growth in the inert ingredients market through 2023.
Agriculture is one of the largest industries in the Asia-Pacific region, with a large share of farmland and good soil fertility. Moreover, the region is rich in plant diversity due to the wide variations in climate across countries. Even though there is a variation in the agriculture system from the basic systems in India to the technically advanced ones in Japan, the agenda of food security is supported by local governments in Asian countries. The Asia Pacific region is one of the leading consumers of pesticides across the globe, though the region mainly depends on imports of pesticide supplies. Since inert ingredients are majorly consumed by pesticide manufacturers at the production facility during the formulation stage and since countries such as India, Thailand, and Vietnam depend on imports for formulations, the market for inert ingredients is projected to be smaller compared to the Americas and Europe. However, with the increasing establishment of production plants in Asian countries, the use of inert ingredients along with pesticide application is projected to increase in the future.
This report includes a study of development strategies for leading companies. The scope of this report includes a detailed study of major companies such as BASF (Germany), Clariant (Switzerland), DowDuPont (US), Stepan Company (US), and Croda International Plc. (UK). Other players in the market include Eastman Chemicals (US), Solvay S.A. (Belgium), Evonik (Germany), Huntsman Corporation (US), AkzoNobel (The Netherlands), Royal Dutch Shell (The Netherlands), and LyondellBasell Industries (Netherlands).
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The Pesticide Inert Ingredients Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the pesticide inert ingredients market include Akzonobel, BASF, Clariant, Croda International, DowDuPont, Eastman, Evonik Industries, Huntsman, Lyondellbasell Industries, Royal Dutch Shell, Solvay, and Stepan.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Pesticide Inert Ingredients Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/pesticide-inert-ingredients-market/download-sampleMarket DynamicsThe increasing usage of pesticide in modern crop protection technique is primarily driving the market growth.
The use of inert ingredients in pesticide increases agricultural yield and also ensure food safety, which is again fuelling market growth.
On the other hand, rising practices of organic farming in order to reduce the usage pf pesticide is likely to impede market growth.
