The global pesticide inert ingredients market (農薬不活性成分市場) is set to achieve a value of US$ 7,621.2 million by 2024. Over the forecast period, demand is projected to grow at a compound annual growth rate (CAGR) of 5.6%, culminating in a total of US$ 13,167.2 million by the conclusion of 2034.

The market for pesticide-inert compounds is seeing a boom in the use of biodegradable formulations due to the growing need for sustainable agriculture. Improvements in precision agriculture technologies, including as data analytics and drones, are increasing the effectiveness of pest management. Due to their alignment with cutting-edge farming methods and environmental consciousness, these advancements are propelling market progress.

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Key Segments of Pesticide Inert Ingredients Market Research Report        

There are prospects in the market for pesticide-inert compounds due to the increasing demand for sustainable agricultural practices worldwide. Innovations in precision agriculture open up possibilities for better formulation development. As the market for pesticides inert components develops, businesses have opportunities to contribute to technologically advanced and environmentally friendly pest management products.

Key Takeaways from the Market Study

• In 2019, the global pesticide inert ingredients market was estimated at US$ 5,945.2 million.
• The North America pesticide inert ingredients market is expected to rise to 25.7% market share by 2024.
• East Asia is expected to have reached 42.1% of the global market by 2024.
• In 2024, the market in the United States is estimated to be worth US$ 1,134.4 million.
• The China market for pesticide inert ingredients is anticipated to be worth US$ 1,659.4 million in 2024.
• In 2024, the liquid form segment is expected to account for 74.50% of the global market.
• The herbicide segment is expected to reach a market share of 40.21% by 2024.

“The pesticide inert ingredients market is driven by rising need for biodegradable formulations that address sustainable agriculture. Drones as well as data analytics are examples of precision agricultural technology which may be used to maximize efficiency and usage of inert ingredients,” remarks a Fact.MR analyst.

Key Companies Profiled

• Clariant
• Eastman Chemical Company
• Evonik Industries
• Solvay
• BASF SE
• Huntsman International LLC.
• Dow
• Oleon Corporate
• Stepan Company
• Croda International Plc.
• Chromatech Incorporated
• Parry America Inc.

Competitive Landscape

To get a competitive advantage, key players in the global market for pesticide inert ingredients are implementing creative tactics. To create sustainable and biodegradable inert ingredients that are in line with environmentally friendly agriculture methods, they are investing in research and development.

The integration of precision agriculture equipment like drones and data analytics is made possible by strategic partnerships with technology companies, which improves the effectiveness of pest management. In addition to addressing environmental issues, these developments establish the businesses as industry leaders in providing efficient, eco-friendly, and advanced technical solutions for the constantly developing market for pesticide inert ingredients.

Key Development

• In 2023, Clariant announced the official launch of their new CATOFIN catalyst manufacturing facility in Jiaxing, Zhejiang Province, China. A fundamental component of Clariant's new purpose-led approach, which is embodied in the phrase "Greater chemistry - between people and planet," is investing in technologies like CATOFIN. In addition, the location adds to the company's currently expanding foothold in China by complementing the catalyst R&D center located within the One Clariant Campus in Shanghai and the neighboring catalytic factories in Jinshan.
• In 2023, Evonik announced the complete acquisition of the previous joint venture Thai Peroxide Company Limited (TPL) in Saraburi, Thailand. The purchase, which was finalized on December 15, allows the multinational manufacturer of peroxides to increase the amount of specialty-grade hydrogen peroxide and peracetic acid that it offers in the rapidly developing Asia Pacific market. The move helps Evonik's Active Oxygens business division pursue its goal of concentrating on specializations for applications in the future.

Segmentation of Pesticide Inert Ingredients Market Research

• By Form:
  • Liquid
  • Solid
• By End Use:
  • Herbicide
  • Insecticide
  • Fungicide
  • Others
• By Region:
  • North America
  • Eastern Europe
  • Western Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

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More Valuable Insights Available

Fact.MR offers an unbiased analysis of the global pesticide inert ingredients market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the pesticide inert ingredients market, the market is segmented on the basis of form (liquid, solid), by end use (herbicide, insecticide, fungicide, others) and region (North America, Europe, Latin America, East Asia, South Asia & Oceania, Middle East & Africa).

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