Biostimulants Market Expected to Reach US$ 9.6 Billion by 2033 with a 10.8% CAGR

The biostimulants market is predicted to be worth US$ 3.4 billion in 2023, and rise to US$ 9.6 billion by 2033. Demand is expected to increase at a CAGR of 10.8% over the projected period.
Due to their numerous potential applications and promising futures, biostimulants are employed in horticulture and agriculture. Growing demand for eco-friendly agricultural solutions in developing nations like China and India opens up a new market opportunity for biostimulants producers.
Since food security and public health are closely related, all parties participating in the agri-food sector have sought to enhance sustainable food production. The largest phytopharmaceutical companies in Asia Pacific and Europe have intensified their production and research activities for natural products.

Lack of restrictions related to the product's commercialization may impede the market's development and expansion during the projection period. Growth is constrained by a lack of confidence in new products, a shortage of information about high-quality products, and a lack of clear regulatory.
In the majority of markets, the data requirements for the product are often obtained from those produced from synthetic substances. Similarly, there are still no well-established endpoints for risk evaluations despite the fact that these products have been used in commerce for years.
Key Takeaways
• By 2033, the US dominates the biostimulants market, with a CAGR of 9.6%.
• The market for biostimulants increased at a 10.1% CAGR between 2017 and 2022, citing FMI's study.
• The expansion in China is anticipated to expand at an adequate CAGR of 13.3% by 2033. China’s market is likely to generate a share of US$ 1.1 billion by 2033.
• Japan's market share for biostimulants is 10.8% by 2033, with the value of US$ 490 million.
• Between 2023 and 2033, the biostimulants market is likely to increase in South Korea at 11.6% CAGR, respectively.
• The expansion in the UK is anticipated to expand at an adequate CAGR of 9.9% by 2033. The UK's market is expected to generate a share of US$ 476.2 million by 2033.
• Based on active ingredients, the acid-based segment is expected to dominate the market with a CAGR of 10.6% by 2033.
• The adoption trends of biostimulants are predicted to change due to the rising demand for organic farming. As a result, the market is anticipated to increase positively by 1.09x between 2022 and 2023.
Key Strategies in the Industry
The main factor of the market's fragmentation is the growth of local players and regional marketplaces in various regions of the world. The two regions with the biggest market activity are North America and Europe.
UPL Limited, Biostadt India Limited, Isagro SPA, Valagro SpA, and Tradecorp International are a few of the leading businesses in the biostimulants market. For the purpose of expanding their businesses, these significant firms invest in new products, product improvement, expansions, and acquisitions.
Recent Developments
• A new line of biostimulant solutions based on GoActiv Technology was launched by UPL Australia in June 2021. These products are intended to target particular crop physiological "pain points" or abiotic stresses in fruit and vegetable, vine, and tree crops.
• Isagro Group acquired Phoenix Del in 2020 in order to increase the variety of copper-based fungicides and biostimulants it offers. The goal of this acquisition was to advance technology and transform the products in its "BioSolutions" section.
Key segments
By Active Ingredient:
• Acid-Based
• Extract-Based
• Others (including Microbial Amendment, Trace Minerals, etc.)
By Crop Type:
• Row Crops
• Fruits & Vegetables
• Turfs & Ornamentals
• Other Crop Types
By Application:
• Foliar
• Soil
• Seed
By Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
• Oceania

Worldwide Automotive Refinish Coatings Market Analysis and New Market Opportunities Explored By 2033

The automotive refinish coatings market size is projected to be valued at US$ 7.7 Bn in 2023 and is expected to rise to US$ 12.9 Bn by 2033. The sales of Automotive Refinish Coatings are expected to grow at a significant CAGR of 5.1% during the forecast period
One of the major factors positively influencing global demand for automotive refinish coatings is the increasing demand for recreational and vehicle repair and maintenance activities, as well as the rise in fatal road accidents.
Aside from that, key players are introducing environmentally friendly refinish coatings made with organic chemicals and offering color and printing customization to enhance the consumer experience.
Furthermore, as people become more aware of the importance of vehicle maintenance, the use of automotive refinish coatings is increasing globally.
Rising environmental awareness and a number of initiatives launched by governments around the world are driving the use of low Volatile Organic Compound (VOC) emissions. This provides lucrative growth opportunities for market players in the industry.

Key Takeaways from the Automotive Refinish Coatings
• In 2023, the U.S. automotive refinish coatings market is expected to grow by 6.01% year-on-year, reaching a valuation of US$ 2.4 Bn. Revenue generation in the country will be pushed by a rebound in the automotive industry.
• In 2021, Asia-Pacific accounted 42.3% of worldwide sales, and it is anticipated that it will maintain its lead over the projected period. Increased sales of passenger vehicles along with a strong automotive manufacturing base are also expected to fuel the market growth.
• Currently, Germany holds dominance with a share of 38% in Western Europe. The automotive sector in Germany spends a considerable share of its budget on research and development activities.
• In terms of material type, acrylic based coatings have surpassed the market value of polyurethane-based coatings. Acrylic based coatings are expected to hold around 44% of the market whereas polyurethane based coatings are just decimals away from this share.
• Demand in the passenger cars segment grew by 5.7% year over year rate in 2021. Meanwhile, demand for automotive refinish coatings in the commercial vehicle segment increased at 4.2% CAGR between 2020 and 2021.
• The primers and base coat segment are dominant in the automotive refinish coatings market. Both segments collectively hold around 66.3% of the share in the global automotive refinish coatings market.
Competitive Landscape
To increase their market position, major players in the market are concentrating on merger and acquisition strategies along with product development. To boost their yearly turnover, they are still boosting their production capacity. For instance:
• On June 1, 2022, AkzoNobel recently decided to expand its presence in Africa by signing a contract with Kansai Paint and starting its coatings-related operations there. With Kansai Paints, AkzoNobel will be able to build a foundation for future market expansion and generate 280 million euros in sales. Additionally, this partnership will emphasize commitment to innovation and sustainability, leading to the expansion of products and the provision of appropriate solutions for clients.
• Tikkurila and its activities in the areas of governance, social responsibility, and the environment have been acquired by PPG Industries. This gave PPG access to additional growth opportunities due to an expanded selection of coatings products and emerging new technologies. With this acquisition, PPG has moved closer to its goal of reducing emissions by 15% by 2025, which is expected to open up more opportunities for the coatings sector.
Automotive Refinish Coatings Market
By Material Type:
• Polyurethanes
• Acrylics
• Alkyd
By Product Type:
• Primer
• Base Coat
• Top Coat
• Clear Coat
By Technology:
• Solvent Borne
• Water Borne
• UV Cure
By Vehicle Type:
• Passenger Cars
• Compact
• Midsize
• Executive
• Luxury