New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pesticide Inert Ingredients Global Market Report 2023" - https://www.reportlinker.com/p06479764/?utm_source=GNW
V., Solvay, Stepan Company, Evonik Industries, Akzo Nobel N.V., Shell plc, Oleon, Chromatech Inc., and Parry America Inc.
The global pesticide inert ingredients market is expected to grow from $4.46 billion in 2022 to $4.83 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pesticide inert ingredients market is expected to reach $6.36 billion in 2027 at a CAGR of 7%.
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.
Pesticide inert ingredients refer to ingredients and substances that are added along with active ingredients in a pesticide. It is used to help the active ingredient penetrate the surface of plants and extend the shelf life of pesticide products.
North America was the largest region in the pesticide inert ingredients market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in pesticide inert ingredients report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of pesticide inert ingredients are emulsifiers, solvents, carriers, and other types.Emulsifiers refer to substances that are chemical additives that can suspend one liquid inside another.
Emulsifiers are used for odorless, non-toxic, and non-irritating pesticides. The sources of pesticide inert ingredients are synthetic and bio-based and they are in dry, liquid, and other forms The various types of pesticides that it applies to are insecticides, herbicides, fungicides, rodenticides, and other pesticide types.
Growing adoption of pesticides is expected to propel the growth of the pesticide inert ingredients market going forward.Pesticides can be defined as a substance that is used for killing, preventing, reducing, or repelling various pests.
Pesticide-inert ingredients are combined with various active ingredients to make pesticides which are used to extend the shelf life of pesticide products. For instance, in July 2022, according to a report published by the Food and Agriculture Organization, an Italy-Based organization of the United Nations, total pesticides used globally in 2020 were approximately 2.7 million metric tons, which is a 50% increase compared to the previous decade. Therefore, the growing adoption of pesticides will drive the pesticide inert ingredients market.
Technological advancements are a key trend in the pesticide inert ingredient market.Major companies in the pesticide inert ingredients market are focused on developing innovative technologies to sustain their position in the market.
For instance, in November 2021, Syngenta AG, a Switzerland-based agrichemical company, launched a new technology, PLINAZOLIN, which is an active pesticide ingredient with an innovative mode of action for effective insect control.PLINAZOLIN technology will offer insect control on stinkbugs, mites, thrips, caterpillars, flies, and beetles for more than 40 different crops, including cotton, soybean, corn, rice, coffee, and a variety of fruits and vegetables.
The technology may also be applied as a seed treatment and in forestry and professional pest management programs. This new technology will set a new standard of performance and protect the crops from various pests.
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.
The countries covered in the pesticide inert ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The pesticide inert ingredients market research report is one of a series of new reports 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.
Read the full report: https://www.reportlinker.com/p06479764/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
