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What's driving the Glyphosate Market Size? | Big Key Players BASF, DuPont, Dow AgroSciences, FMC Corporation, Monsanto Company, Bayer Crop Science, Nufarm, Syngenta, PI Industries Ltd
Glyphosate Market
Glyphosate market is set to witness 5.3% CAGR up to 2024 with the increasing application scope in GM crops. Rising preference for treated genetically modified food to sustain food supply stability will propel the product penetration.
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U.S. glyphosate market size from GMO crops was worth over USD 450 million in 2015. Shifting preference for GM crops and rising consciousness about agrochemical benefits will drive the regional demand.
Europe glyphosate market will witness stagnant growth due to stringent government regulations on herbicides. Russia market will observe gains over 2.5% by 2024 with increasing cultivable land and technological advancement in agriculture.
In APAC, the product is majorly used in maize, wheat, tea, cotton, sunflower, sorghum and cotton to enhance the crop yield. Other potential application includes farming, parks, orchards, vineyards and forestry. China glyphosate market size was worth over USD 400 million in 2015, owing to increased food consumption and limited arable land availability. Advancement in low priced herbicide along with cheap labor availability encouraged China glyphosate market exports.
Glyphosate market by application
• Conventional crops
• GM crops
Conventional crops accounted for over 55% of the overall industry revenue in 2015. High Genetically Modified (GM) seeds price trend is among the key reason supporting conventional farming in developing nations. In coming years, GM crops will witness notable growth over 6% owing to the additional benefits including high yield and disease resistance.
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Benefits associated to funding and grants to attain sustainable agricultural practices has encouraged glyphosate market demand. Reducing stress along with weed and grass growth control remain key benefits stimulating product penetration. Increasing crop feeding among livestock and rising application scope in bio-fuel production will support business growth. Isopropylamine is the key raw material for glyphosate production, other major ingredients include monoammonium, diammonium and potassium.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Air Products
2. AkzoNobel
3. ALTANA AG
4. Arkema
5. Ashland
6. BASF
7. Cargill
8. Clariant
9. Croda
10. Diransa
11. The Dow Chemical Company
12. Eastman Chemical Company
13. DuPont
14. Elementis Global
15. The Euclid Chemical Company
16. Evonik
17. FCC
18. Global Drilling Fluids and Chemicals Limited
19. Hangzhou Jingyi Chemical Co., Ltd.
20. The Lubrizol Corporation
21. Mallard Creek Polymers, Inc
22. Munzing
23. PPG Industries
24. San Nopco Korea Ltd.
25. SNF Holding Company
Stringent regulations on agrochemicals in EU and North America due to substantial health and environmental concerns may impact industry growth. Glyphosate resistant weeds evolution, controversy on herbicide uses were the major challenges. Currently, UN and WHO claim on this herbicide as unlikely to cause carcinogenic and cancer risk in humans will continue to create new opportunities in the farming industry.
Browse key industry from the report, “Glyphosate Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/glyphosate-market
Global glyphosate market share remains highly concentrated with four companies catering to 50% of global revenue in 2015. Monsanto, DuPont and Dow AgroSciences are the chief industry players.
BASF, Nufarm Limited, Syngenta AG, Bayer CropScience Ltd, SinoHarvest Corporation and Nantong Jiangshan are other participants. Introduction of Roundup Ready and early herbicide tolerant crop adoption has supported industry position.
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