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North America holds a significant share of the market due to the rising adoption of the latest technologies in the region. Increasing government measures to spread awareness regarding the rising impact of soil contamination due to developmental projects and the subsequent need to restore arable lands for food cultivation is positively influencing the market growth in the region. In addition, because of natural disasters like floods in several countries of the region, the agricultural lands are facing soil erosion, thus propelling the market for soil treatment. Furthermore, with government investments in research and development (R&D) projects and the presence of leading companies in the region, the market for soil treatment is flourishing in the region. Apart from this, emerging economies in the Asia Pacific region with increasing demand for improved fertility and aeration is further aiding the industry growth. Additionally, owing to the dominance of the agriculture sector in countries like India, favourable government policies like ‘Make in India’ are generating growth opportunities for market players in the region, and hence invigorating the market growth.
One of the leading companies in the global market for soil treatment, BASF SE (ETR: BAS), launched two new solutions to make non-wetting soils more productive in February 2019. The Divine Agri and Divine Integrate soil wetting agents offer individually customised testing and treatment that help Australian farmers to produce higher yields in difficult situations. Non-wetting soils significantly limit the productivity of Australia’s farmlands, and hence the introduction of wetting solutions by BASF SE are anticipated to yield investments and hence propel the market growth. With the new solutions, farmers can send their non-wetting soil samples to a specialised soil and plant analysis laboratory where researchers can diagnose the type of non-wetting soil and provide the best solution for treatment. Hence, such innovations in the market for soil treatment are expected to augment the overall market growth.
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The major players in the global soil treatment market are BASF SE, Syngenta Crop Protection AG, AMVAC Chemical Corporation, Novozymes A/S, Solvay SA, and Soil Works LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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