According to a Persistence Market Research report on the pesticide inert ingredients market, the market is expected to reach nearly US$ 5 billion in value by the end of 2019 and is projected to reach US$ 9 billion by the end of 2029.
This projection is based on an analysis of the global industry for the years 2014 to 2018 and a forecast for 2019 to 2029. From the estimated year (2019) to the forecast year (2020), the global market for pesticide inert components is anticipated.
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Pesticide Inert Ingredients Market Growth is Predicted to Be Accelerated by the South Asian Region
The majority of the South Asian nations have agriculture-based emerging economies. This area contains a lot of agricultural land, and the industry is expanding quickly. The largest economies in India, Malaysia, Thailand, and Indonesia are those in which the agricultural sector contributes the most to GDP growth. With the highest CAGR in the market for pesticide inert ingredients, these nations have seen rising pesticide consumption in agricultural practices.
Pesticide inert ingredients market is expected to reach a valuation of ~US$ 5.7 Bn in 2019, growing at a CAGR of ~6% over the course of the forecast period. Developments across the agricultural industry, incorporation of precision technology and growing consumption of pesticides for increased crop protection requirements are likely to stimulate the profitability of pesticide inert ingredients market players.
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Pesticide Inert Ingredients Market Taxonomy
Type
- Solvents
- Emulsifiers
- Surfactants
- Propellants
- Others
Nature
- Bio-based
- Synthetic
Form
- Liquid
- Solid
End Use
- Herbicides
- Insecticides
- Fungicides
- Others
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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The Analyst’s Speak:
The increasing emphasis given to crop nutrition in wake of the transforming agricultural ecosystem has resulted in PMR analysts to have a positive outlook of the market. As crop cultivators are seen mixing additional inert ingredients to boost concentration and effectiveness of pesticide products, this factor is creating potential opportunities for pesticide inert ingredients market players.
Market entrants can channelize their future investments to create similar offerings. Although pesticide inert ingredients are expected to gain popularity in liquid form, in 2019, inert ingredients in solid or dry form are expected to pick pace over the course of the forecast period. This is attributed to their immense applicability in the formulation of rodenticides and herbicides.
FAQ’s:
- How much value will the pesticide inert ingredients market hold in the 2029?
- What are key industry trends that are expected to shape the pesticide inert ingredients market in the coming years?
- What are the key growth determinants driving the pesticide inert ingredients market onto the growth trajectory?
- Which type is anticipated to remain the sought-after pesticide inert ingredients type over the coming decade?
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