PUBLISHER: The Business Research Company | PRODUCT CODE: 1414488
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414488
“Pesticide Inert Ingredients Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pesticide inert ingredients market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pesticide inert ingredients? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The pesticide inert ingredients market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Pesticide inert ingredients serve as additional components in pesticide formulations, complementing the active ingredients. These inert substances aid in facilitating the penetration of active components into plant surfaces and contribute to prolonging the shelf life of pesticide products.
The primary categories of pesticide inert ingredients include emulsifiers, solvents, carriers, and various other types. Emulsifiers are chemical additives that enable the suspension of one liquid within another, often utilized in creating odorless, non-toxic, and non-irritating pesticide formulations. These inert ingredients are derived from synthetic and bio-based sources and are available in dry, liquid, and other forms. They cater to a spectrum of pesticide types such as insecticides, herbicides, fungicides, rodenticides, and other specialized pesticide variants.
The pesticide inert ingredients market research report is one of a series of new reports from The Business Research Company that provides pesticide inert ingredients market statistics, including pesticide inert ingredients industry global market size, regional shares, competitors with an pesticide inert ingredients market share, detailed pesticide inert ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the pesticide inert ingredients industry. This pesticide inert ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pesticide inert ingredients market size has grown strongly in recent years. It will grow from $4.83 billion in 2023 to $5.22 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period within the pesticide industry can be linked to several key factors. Firstly, the increasing demands for enhanced agricultural productivity have been a driving force, prompting the use and development of pesticides to meet these needs. This demand surge contributed significantly to the expansion of the agrochemical industry.
The pesticide inert ingredients market size is expected to see strong growth in the next few years. It will grow to $6.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the upcoming period within the pesticide industry can be attributed to various significant factors. The emergence and increasing adoption of precision agriculture practices are expected to drive demand for pesticides tailored to specific needs, contributing to market growth. Additionally, there's a growing focus on biorational pesticides-products derived from natural sources that have a lower environmental impact-reflecting a shift towards more sustainable pest management strategies.
The growth of the pesticide inert ingredients market is poised for acceleration, largely propelled by the increasing adoption of pesticides. Pesticides, substances used to control, prevent, or eliminate pests, utilize inert ingredients alongside active components to extend product shelf life. Notably, a report from the Food and Agriculture Organization in July 2022 revealed a global pesticide usage of approximately 3.54 million metric tons in 2021, reflecting a 4% increase from 2020's 2.7 million metric tons. This surge in pesticide adoption acts as a key driver fueling the demand for pesticide inert ingredients.
The expanding scope of agriculture production stands as another pivotal factor driving the growth of pesticide inert ingredients. In the realm of agriculture production, pesticide inert ingredients play a vital role by enhancing the efficacy and application of active pesticide components. This enhancement indirectly contributes to increased crop yields and enhanced agricultural productivity. According to the Food and Agriculture Organization's December 2022 data, global primary crop production witnessed a 2% increase from 2020, reaching 9.5 billion tons in 2021. Notably, cereals, including maize, wheat, and rice, accounted for around 90% of the total production of 64 million tons in 2021. This escalation in agriculture production augments the demand for pesticide inert ingredients to further augment agricultural productivity.
Technological advancements emerge as a prominent trend in the pesticide inert ingredients market. Leading companies are focused on pioneering innovative technologies to fortify their market positions. For instance, in November 2021, Syngenta AG introduced PLINAZOLIN technology-a groundbreaking active pesticide ingredient with a novel mode of action targeting effective insect control. This technology caters to over 40 different crops, offering insect control against stinkbugs, mites, thrips, caterpillars, flies, and beetles. It demonstrates versatility by its application in various sectors, including seed treatment, forestry, and professional pest management programs, raising the bar for pest protection in crops.
Major industry players are invested in developing advanced solutions such as agrochemical digital tools to gain a competitive edge. These digital platforms assist farmers in making informed decisions regarding agrochemical usage. An example is The Dow Chemical Company's DOW Crop Solver, launched in May 2023. This online tool expedites agricultural formulation development by providing guidance on inert ingredient properties and selection. Offering a user-friendly interface, it ensures comprehensive information and compatibility checks for inert ingredients chosen by farmers, enhancing their decision-making process in agrochemical use.
In September 2021, Best Agrolife Limited, an India-based chemical manufacturing company, acquired Best Crop Science Pvt. Ltd. for an undisclosed amount. The acquisition will provide Best Agrolife Limited with diversification in manufacturing and new and robust R&D for manufacturing active ingredients for herbicides, insecticides, and fungicides. Best Crop Science Pvt. Ltd. is an India-based company involved in manufacturing of active ingredients of herbicides, insecticides & fungicides.
Major companies operating in the pesticide inert ingredients market report are BASF SE, Clariant Specialty Chemicals, Croda International plc, DowDuPont Inc., Eastman Chemical Company, Huntsman International LLC, LyondellBasell Industries Holdings B.V., Solvay SA, Stepan Company, Evonik Industries AG, Akzo Nobel NV, Shell plc, Chromatech Inc., Parry America Inc., Royal Dutch Shell plc, Avril Group Scr, Kao Corporation, Lonza Group Ltd., Innospec Inc., Ashland Global Holdings Inc., Vertellus Holdings LLC, Pilot Chemical Corp., Innophos Holdings Inc., Fina Oleochemicals, 3M Company, Abbott Laboratories, Aceto Agricultural Chemicals Corporation, Bayer AG, ABC Compounding Co. Inc., Syngenta AG
North America was the largest region in the pesticide inert ingredients market in 2023. Asia-pacific is expected to be the fastest-growing region in the global pesticide inert ingredients market during the forecast period. The regions covered in the pesticide inert ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the pesticide inert ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The pesticide inert ingredients market consists of sales of aerosol propellants, fragrances and dyes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.