Global herbicide market is anticipated to grow with a constant growth rate during the extended period of forecast as most of the driving and limiting forces would have sustained effect over the global market. Decrease in number of labors, consequent rise in cost of the laborers, and shortage of arable lands are the major factors that drive the growth of the global market of herbicides.
Seattle, WA -- (SBWIRE) -- 11/04/2019 -- Herbicides are specific category of pesticides used to control unwanted plants during cultivation. Also known as weedkillers, herbicides are of two types, selective and non-selective herbicides. Selective herbicides control specific weed species, leaving the desired crop unharmed, whereas non-selective herbicides can be used to clear industrial and construction sites, railways and railway ridges as they kill all plant material with which they come into contact.
The aim of using herbicides is to improve agricultural productivity by killing unwanted herbs and weeds in the plantation. Hence, increase in demand for high agricultural productivity to meet the global food demands majorly drives the growth of the herbicides market. In addition, surge in population and rise in disposable income of a developing region such as Asia-Pacific increases the demand for herbicides. However, the hazards associated with synthetic herbicides lead to stringent regulations on the use of herbicides, which majorly hampers the growth of the global herbicides market.
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The regulations lead to increase in the demand for bio-based herbicides. To meet the stringent regulations and to improve efficiency of herbicides, major players invest in research and development (R&D) activities to develop new herbicides. Chemical industry is gradually shifting from synthetic chemicals to bio-based chemicals by referring its Eco-friendly nature. Biocides is very fast and highly effective product to control over thousands of weed species. Most importantly, it has the potential to control the glyphosate tolerant and resistant weeds by using the existing spraying technology.
To stay competitive, these market players are adopting different strategies such as acquisition, merger, partnership and product launch. In an instance, the Corteva Agriscience subsidiary of DowDuPont acquired the Clear-field Canola Production System ("Clearfield canola") in Canada and the U.S. from BASF. Clear-field canola is a globally-recognised non-genetically modified herbicide tolerance (HT) system. This acquisition helped strengthen its agriculture division.
Global Herbicides Market Share, by Region:
North America is and will continue to be the leading consumer of herbicides till 2025 due to the trend of early adoption of technology in the developed countries of the region. In this region, the application of herbicide is not limited to the agricultural field; it is also used for the weed management in lawns and forests. Considering this North America herbicides share expected to progress during the forecast period. In addition, North America and Asia-Pacific are expected to be the fastest growing markets at a CAGR of 3.9% and 6.5%, respectively during the forecast period.
Some of the major players analysed in this report are BASF, Bayer AG, DowDupont, Syngenta AG, FMC Corporation, Adama Agricultural Solutions Ltd, and Nufarm Ltd.
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Global Herbicides Market, by type:
Glyphosate is the highest consumed herbicide in the prevailing market condition and also expected to retain its lead during the forecast period. The global market of glyphosate is expected to grow with a significant CAGR. Being an effective and low-cost solution, glyphosate is largely used in various applications in all geographies. Growers not only use it for weed management, but also for plant growth.
Research Methodology:
Our market estimates and forecasts are derived through simulation models. A unique model is created customised for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analysed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, and industry experience and domain expertis
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