Diethyl Aminoethyl Hexanoate Market - Forecast(2023 - 2028)

Diethyl Aminoethyl Hexanoate Market Overview

The Global Diethyl Aminoethyl Hexanoate Market size is estimated to grow at a CAGR of 6.3% during the forecast period 2022-2027. The diethyl aminoethyl hexanoate is a plant growth regulator that increases the growth speed of plants, improves nitrogen fixation and activities of nitrate reductase, bud regeneration and boosts the photosynthesis speed. It works well with other plant growth regulators such as abscisic acid (ABA), naphthaleneacetic acid, gibberellic acid and others. The diethyl aminoethyl hexanoate has application as an herbicide compound, fertilizer base and others to promote the effect of germicide and growth hormone in crops, thereby having growing demand in the agriculture sector. The flourishing agriculture production including fruits & vegetables, cereals, cotton and others act as a driving factor in the global diethyl aminoethyl hexanoate market. In addition, the growing government’s initiatives for sustainable agriculture production and organic farming are propelling the growth in the global diethyl aminoethyl hexanoate industry. The covid-19 outbreak resulted in a major hamper for the Global diethyl aminoethyl hexanoate market due to a halt in agriculture production, food insecurity, demand and supply chain disruption and other lockdown regulations. However, a significant recovery in the agriculture sector is boosting the demand for global diethyl aminoethyl hexanoate for various applications in cereals, fruits & vegetables and others as growth regulators; thereby the global diethyl aminoethyl hexanoate market is anticipated to grow rapidly and contribute to the global diethyl aminoethyl hexanoate market size during the forecast period.

Diethyl Aminoethyl Hexanoate Market Report Coverage

The “Global Diethyl Aminoethyl Hexanoate Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Global Diethyl Aminoethyl Hexanoate Market.

By Purity: Below 98%, 98% and Above 98%
By Application: Fertilizers Base, Foliage Spray, Fungicide and Herbicide
By End-Use Industry: Fruits & Vegetables (Apple, Pear, Grapes, Tomatoes, Beans and Others), Cereals ( Wheat, Rice, Corn and Others), Turf & Ornamental Crops, Cash Crops (Soyabean, Oil Seeds, Sun Flower and Others), Cotton, Plantation Crops (Tea, Coffee, Rubber, Coconut and Others) and Others
By Geography: North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World (Middle East and Africa)

Key Takeaways

• Europe dominates the Global Diethyl Aminoethyl Hexanoate Market, owing to the growing agricultural production and development, along with rising income level, thereby propelling the growth of global diethyl aminoethyl hexanoate in this region.
• The growing fruits & vegetable sector across the world is propelling the demand for global diethyl aminoethyl hexanoate for growth regulator, nutrient absorption, enhanced photosynthesis procedure and others, thereby contributing to the growing global diethyl aminoethyl hexanoate market size.
• The rise in investment and development activities for sustainable and organic agricultural sector boosts the demand for growth regulators such as diethyl aminoethyl hexanoate, including gibberellic acid, abscisic acid, naphthaleneacetic acid and others, thereby driving the global diethyl aminoethyl hexanoate industry.
• However, volatilization issues associated with the compound and lack of awareness act as a major challenge for the global diethyl aminoethyl hexanoate industry.

Diethyl Aminoethyl Hexanoate Market Segment Analysis – by Application

The foliar spray segment held the largest Global Diethyl Aminoethyl Hexanoate Market share in 2021 and is forecasted to grow at a CAGR of 6.7% during the forecast period 2022-2027. The diethyl aminoethyl hexanoate is majorly used as an additive for foliar spray alongside other plant growth regulators such as naphthaleneacetic acid, gibberellic acid, abscisic acid and others to regulate the plant growth and boost photosynthesis procedure, manage nitrate reductase and maintain the foliar fertilizing effect. The foliar spray application has major demand in the agriculture sector, including fruits & vegetables, cereals, cotton, plantation crops and others. The agricultural sector is significantly growing owing to growth factors such as innovative farming technologies, investment in agricultural production and rising income levels. For instance, according to National Statistics, the value of field vegetables in the UK increased by 12% to reach US$1.3 billion in 2020. According to National Investment Promotion & Facilitation Agency, the total food grain production in India increased from 11.15 million tons in 2019-20 to 308 million tons in 2020-21. With the rapid increase in agriculture production and yield, the demand for diethyl aminoethyl hexanoate in foliar spray application for growth regulation and nutrient absorption is growing; thereby the foliar spray segment is expected to grow rapidly in the global diethyl aminoethyl hexanoate industry during the forecast period.

Diethyl Aminoethyl Hexanoate Market Segment Analysis – by End-Use Industry

The fruits & vegetable segment held a significant Global Diethyl Aminoethyl Hexanoate Market share in 2021 and is forecasted to grow at a CAGR of 6.9% during the forecast period 2022-2027. The diethyl aminoethyl hexanoate has major demand in the fruits & vegetable sector for a wide range of applications involving foliage spray, herbicides and others to stimulate plant growth. The fruits & vegetable sector is rapidly growing owing to growth factors such as a rise in agricultural produce, flourishing trade activities and rising income levels. For instance, according to the National Statistics, Department for Environment Food & Rural Affairs, the value of fresh fruits in the UK increased from US$903 million in 2019 to US$1,045 million in 2020. Moreover, the value of fresh vegetables increased from US$1,516 million to US$1,670 in 2020. According to Avocados Australia Limited (AAL), the avocado sector production in Australia increased to 87,546 tonnes in 2019-20, marking a growth of 2% over the previous year. With the rise in global fruits & vegetables production and trade, the applicability of global diethyl aminoethyl hexanoate as a plant growth regulator is rising, which, in turn, is anticipated to boost the growth scope for global diethyl aminoethyl hexanoate in the fruit & vegetable sector during the forecast period.

Diethyl Aminoethyl Hexanoate Market Segment Analysis – by Geography

Europe held the largest Global Diethyl Aminoethyl Hexanoate Market share in 2021 up to 39%. The flourishing growth of diethyl aminoethyl hexanoate in this region is influenced by growing agricultural production, organic farming trends and government support policies for agriculture. The agriculture sector, including fruits & vegetables, cereals and others are significantly flourishing in European countries owing to growth factors such as rising fruit production and trade, favorable agricultural policies and urbanization. For instance, according to the Department for Environment Food & Rural Areas, the value of home-produced vegetables increased by 10% in 2020, to reach US$1.7 billion compared to the previous year. According to the United States Department of Agriculture (USDA), the wheat production in European Union was estimated at 136.1 million metric tons in 2022, marking an increase of 3% over the five-year average of 132.7 million metric tons. With the established base for the agricultural sector and flourishing production of fruits & vegetables, cereals and others, the applicability for diethyl aminoethyl hexanoate for growth regulation in plants is rising, which, in turn, is projected to boost the demand and growth of global diethyl aminoethyl hexanoate industry in the Europe region during the forecast period.

Diethyl Aminoethyl Hexanoate Market Drivers

Rising Investment and Policies for Agricultural Sector:

The demand for Global Diethyl Aminoethyl Hexanoate is growing rapidly for various applications in the agriculture sector as a plant growth regulator, nitrate reductase and others. The investments and initiatives to promote organic and sustainable agricultural activities for various crops, cereals, fruits & vegetables and others are flourishing rapidly owing to growth factors such as high consumption of organic farming products, environment-friendliness, control of harmful chemical products and high yield. For instance, the Department of Agriculture Cooperation and Farmers Welfare had allocated US$15.48 billion in 2021-2022 to boost the agricultural activities in India. According to the U.S International Development Finance Corporation, an investment worth US$1 billion is targeted to support agriculture projects and food security over the five years starting 2021. Furthermore, according to India Brand Equity Foundation (IBEF), the agriculture sector in India is expected to reach US$24 billion by 2025. With the rise in investment and growth in the agricultural sector, the applicability of diethyl aminoethyl hexanoate to promote plant growth is rising, which, in turn, is boosting its demand and driving the global diethyl aminoethyl hexanoate industry.

Rising Adoption in Cotton Production:

The Global Diethyl Aminoethyl Hexanoate has flourishing demand in the cotton production sector as herbicide, nitrate reductase and others with utilization for boosting plant growth and speed up the plant cell development and growth regulations. The cotton sector is enormously growing owing to growth factors such as rising utilization in textile and high production yield. For instance, according to the National Cotton Council of America, under the United States Department of Agriculture (USDA) June report, the world cotton production increased by 4.3 million bales to reach 121.3 million bales in 2022 compared to 2021. According to the Cotton Corporation of India Ltd., cotton yield in India increased from 460kgs per hectare in 2019-20 to 491kgs per hectare in 2020-21. With the increase in cotton production, the demand for global diethyl aminoethyl hexanoate for applicability as a growth regulator is increasing to speed up the growth phase of the crop, which, in turn, is boosting its demand and driving the global diethyl aminoethyl hexanoate industry.

Diethyl Aminoethyl Hexanoate Market Challenges

Volatilization Issue and Lack of Awareness:

The diethyl aminoethyl hexanoate faces potential operational issues such as volatilization in high-temperature ranges. The spraying of diethyl aminoethyl hexanoate during high-temperature timing leads to fast evaporation and opposite effects, which leads to poor utilization of the product as it gets vaporized into the environment. Moreover, the lack of awareness of plant growth regulators such as diethyl aminoethyl hexanoate and others among farmers is a major growth restraining factor. Improper guidance or its misuse may lead to crop degradation and unfruitful results. Thus, the global diethyl aminoethyl hexanoate industry is expected to face major growth restraints and challenges.

Diethyl Aminoethyl Hexanoate Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Global Diethyl Aminoethyl Hexanoate Market. The top 10 companies in Global Diethyl Aminoethyl Hexanoate Market are:

1. Hindawi
2. BASF SE
3. Hubei Jusheng Technology
4. Waterstone Technology
5. Alta Scientific
6. Wuhan Hezhonh Bio-chemical Manufacture
7. YuanYe Technology
8. REDOX Industries Limited
9. Sisco Research Laboratories Pvt. Ltd.
10. Zhengzhou Delong Chemical Co. Ltd.

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