NEW YORK, May 3, 2016 /PRNewswire/ -- "Soil wetting agents market projected to grow at a CAGR of 8.5%."
The soil wetting agents market, estimated at USD 95.86 million in 2015, is projected to grow at a CAGR of 6.20% to reach USD 129.5 million by 2020. The market is driven by factors such as increasing application in turf care and adoption of precision farming and protected agriculture. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players.
"Turf care accounted for the largest market share in 2014."
Among the applications of soil wetting agents —which include turf care and agriculture— turf care accounted for the largest market share, followed by agriculture. The turf care segment provides soil wetting agents for turf managers, landscape professionals, and lawn care and holds the largest market share in global soil wetting agents market. The increasing demand for higher yield in the economy at the global level along with growing environmental concerns coupled with critical effects of climatic change and incidence of drought affecting the soil quality and drastically driving the demand for soil wetting agents in agriculture. The agriculture segment is projected to grow at the highest CAGR followed by the turf care segment.
"Liquid soil wetting agents lead the market with the largest share."
On the basis of form, the soil wetting agents market is led by the liquid segment, followed by granular. Liquid soil wetting agents are the best-selling wetting agents across the globe as the effect of its application is relatively faster than the granular form. Granular form of soil wetting agent is a slow release way to apply and have a long-lasting effect.
"Crop protection products contribute for the largest share in 2014."
On the basis of end-use, the soil wetting agents market is led by the crop protection products segment, followed by fertilizers. The products under crop protection refer to insecticides, pesticides, and fungicides. The demand for crop protection products is decreasing in developed regions due to increasing per hectare yield. In developing countries such as Brazil, China, and India, the demand for pesticides is estimated to increase, leading to the growth of crop protection soil wetting agents.
"Latin America: The future of the soil wetting agents industry."
Most of the agrochemical manufacturers are entering in the Latin American market due to consistently expanding farmland, coupled with the growing need to increase agricultural productivity and deeper penetration of modern technology into agriculture. With a rising awareness about soil wetting agents and focus on achieving greater profits, several users are willing to spend on new innovative soil wetting agents products such for turf care and agriculture.
The U.S. was the largest country-level market for soil wetting agents, whereas the market in Argentina is projected to grow at the highest in terms of value.
Break-up of primaries, by the following:
- Company type - Tier 1: 35 %, Tier 2: 45%, and Tier 3 – 20%
- Designation – C-level: 35%, Director level: 25%, and Others: 40%
- Region – North America: 45%, Europe: 20%, Asia-Pacific: 30%, and RoW : 5%
Leading players such as BASF SE (Germany), Wilbur-Ellis Company (U.S.), Nufarm Limited (Australia), and Brett-Young Seeds Limited (Canada) have been profiled in the report. The other players include Md Biocoals Pvt. Ltd. (India), ADS Agrotech Pvt. Ltd. (India), Seasol International Pty Ltd. (Australia), Geoponics Inc. (U.S.), Milliken Chemical (U.S.), and Grow More, Inc. (U.S.).
Reasons to buy this report:
- To get a comprehensive overview of the global soil wetting agents market
- To gain wide-ranging information about the top players in this industry, their product portfolios and key strategies adopted by them
- To gain insights into the major countries/regions in which the soil wetting agents market is flourishing
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