Adjuvants are immunological and pharmacological agents that help modify effects of various agents. They enhance the immune response to antigens, which also makes them significant in vaccines. Due to these advantages, adjuvants hold essential place in the global agrochemicals industry. Easy and advancing applications of these products are considered to be the strongest driver for adjuvants market. Easy accessibility and rising demand from various parts of the world are also contributing factors for the estimated exponential growth in the industry for adjuvants. Researchers claim that the market for these products will continue to spread its wings across the world, which is a great sign for the agrochemicals sector on the whole.
Segments and Trends in Adjuvants Industry
Adjuvants have varied applications, which make them one of the most versatile products in the agrochemicals market. They are also used as immunologic products that stimulate response of the immune system. As a result, these products are making waves in the global industry. Several factors like simple applications, innovative product contributions, advanced production practices and increased accessibility to these products also contribute to the present growth for the market in terms of growth, demand and revenue.
Adjuvants market is segmented on the basis of the types, applications and geography. Utility adjuvants and activator adjuvants are the two basic types of these products. Applications sector of the industry is categorized into fungicides, herbicides, insecticides and other products. Based on geography, the market is divided into North America, Europe, Asia Pacific and rest of the world. Analysis of all these factors including sub-markets, latest trends, winning imperatives, competitive scenario, restraints and challenges in the industry helps track the future of the market.
According to the market research reports, adjuvants market is expected to grow at a CAGR of 5.3% during the forecasting period of next five years. From 2013 to 2018, the industry is expected to make steady progress across different geographical segments. In 2012, the market was valued at $2,173.7 million, which is expected to grow on and become worth $2,963.2 million by 2018. Global industry for adjuvants is fragmented is estimated to be price sensitive. High prices have also restrained the number of market participants, which is a major challenge.
On the basis of geographic segmentation, global adjuvants market is dominated by North America and Europe. High-tech agricultural policies in these regions are considerable factors for their dominance. However, increasing awareness and advancements in emerging markets like Latin America and Asia Pacific on the other hand have also created huge growth potential for these regions.