Latin America Agricultural Surfactants Market was worth USD 110 million in 2021 and estimated to be growing at a CAGR of 7.4%, to reach USD 160 million by 2026.
Agricultural Surfactants are chemicals which enhance or support the action of pesticides such as insecticides, herbicides and fungicides. The market is expected to have high growth in the next half of decade since the demand for agricultural chemicals in on rise because of increased food demand as a result of population rise.
Agricultural Surfactants enhance the activity of pesticides by altering the properties of pesticides like its ability to spread, penetrate the target, increase or decrease the droplet size and others. This ability of surfactants improves the ability of pesticides to protect or target the organism.
Drivers and Restraints of Latin America Agricultural Surfactants Market:
Latin America Agricultural Surfactants Market is driven by factors like increased food demand because of rise in population, development in farming techniques such as precision farming, increasing awareness about use of chemicals in agriculture and equipment such as tractors, dusters, sprayers and increase in commercial agriculture. However, factors like the possibility of pesticide drift, health concerns in using them and their potential harm to the environment are some of the restraints for this market. These factors may act as growth hurdles for the Agricultural Surfactants Market in certain regions.
Latin America Agricultural Surfactants Market - By Type:
The amphoteric category is expected to grow at the highest rate in the next five years whereas the highest market share is of non-ionic segment.
Latin America Agricultural Surfactants Market - By Application:
Herbicide segment has the largest market share followed by fungicides.
Latin America Agricultural Surfactants Market - By substrate type:
Bio-based surfactants are expected to have higher growth rate in the coming time.
Latin America Agricultural Surfactants Market - By fertiliser type:
The Market is Geographically divided into:
Latin America is still in the nascent stages of adoption of Agricultural Surfactants. Brazil has the largest market share in this region with value of 60%. Factors such as high rate of adoption of new technologies so that the productivity of farm operations can be improved and costs can be cut down and rise in food demand is expected to drive this industry’s growth in the region.
Some of the major competitors dominating the Latin America Agricultural Surfactants market are Evonik Industries AG (Germany), Akzonobel N.V. (The Netherlands), The Dow Chemical Company (U.S.), BASF SE (Germany) and Solvay S.A (Belgium) among others.
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