The crop
oil concentrates market is estimated to be valued at USD 199 million in
2019 and is projected to reach USD 254 million by 2025, recording a CAGR of
4.1% during the forecast period. The growth of the crop oil concentrates market
is driven by factors such as the growing need to increase the efficiency of
agrochemicals and increasing adoption of herbicide-tolerant crops.
Key players in the crop oil concentrates market include
Croda International (UK), Wilbur-Ellis (US), Plant Health Technologies (J. R.
Simplot) (US), CHS Inc. (US), Brandt Consolidated (US), BASF SE (Germany), and
Winfield United (Land O’Lakes) (US).
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Report Scope:
Application
• Herbicides
• Insecticides
• Fungicides
• Others
(plant growth regulators, defoliants, fertilizers, micronutrients, and
miticides)
Crop Type
• Cereals
& grains
• Oilseeds
& pulses
• Fruits
& vegetables
• Others
(sugar crops, turfs, and ornamentals)
Surfactant
Concentration
• Less than
15%
• Between
15% and 25%
• Greater
than 25%
By Region
• North
America
• Europe
• Asia
Pacific
• South
America
• Rest of
the World (RoW)
Wheat and corn are the major cereals cultivated worldwide,
accounting for nearly 3.4% of the global cereal production in 2016, according
to the FAO. Additionally, according to the FAO, the global cereal production
increased from 2.6 billion tons in 2016 to 2.7 billion tons in 2018, which is
mainly driven by the need for yield improvements in limited arable area for
expansion. The application of herbicides is also high for row crops,
particularly corn and wheat. Thus, with the increase in consumption of herbicides
in the cereals & grains segment, the application of COC per hectare would
increase. This, in turn, contributes to the growth of the crop oil concentrate
market in the cereals & grains segment.
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The consumption of HSCOC remains high in corn cultivation
across North America. Due to the easy availability of raw materials, the US is
widely using COCs as oil-based adjuvants for its pesticides. Thus, the crop oil
concentrates market was dominated by North America in 2018. With the emergence
of drones for weed control and their increasing adoption across the US for
aerial herbicide application, the growth opportunities for COC manufacturers
have risen globally.
