U.S. Glyphosate Market Size 2024 Will Witness Tremendous Growth From Agrochemical Industry | BASF, DuPont, Dow AgroSciences, FMC Corporation, Monsanto Company,
Europe glyphosate market will observe a steady growth owing to strict government regulations on using herbicides. Russia glyphosate market is estimated to witness gains over 2.5% by 2024, due to rising cultivable land and technological advancement in agriculture.
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Asia-Pacific glyphosate market accounted for over 15% in terms of volume in 2015. India and China dominate the agriculture sector in the region owing to vast cultivable land and easily accessible natural resources. China market was worth around USD 400 million in 2015.
22.214.171.124 Need for sustainable agriculture
126.96.36.199 Growing adoption of advanced agriculture practices
188.8.131.52 Increasing farm expenditure and food demand
The above information is provided on a regional and country basis for the following:
• North America
• Asia Pacific
• South Korea
• Latin America
• Saudi Arabia
• South Africa
Global glyphosate market share is highly consolidated with four major players sharing over 50% of overall industry share. DuPont, DoW AgroScience and Monsanto are key industry participants. Other notable players include Syngenta, Bayer CropScience, BASF, Nufarm and SinoHarvest Corporation.
Necessity to increase crop yield per hectare coupled with rising food demand are significant factors driving glyphosate market demand. Increasing awareness regarding plant growth enhancers to develop plant yield is vital for growth of this industry. GM crops will observe a significant growth due to rising awareness among consumers.
Glyphosate market by application
• Conventional crops
• GM crops
Increasing production of GM crops along with rise in demand for food and cattle feed will enhance the industry . Controlling weed growth and supporting plant growth are the key properties fuelling the glyphosate market. Increase in product usage in the cultivation of cotton, maize, wheat, soybean, tea and sunflower will positively influence the industry demand.
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High application scope in biofuel production accompanied by rising demand for crop feeding among livestock will drive the industry growth. Increasing adoption of the sustainable agricultural practices will fuel the industry growth. Isopropylamine, potassium, diammonium and monoammonium are the key raw materials used in the production process.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Air Products
3. ALTANA AG
11. The Dow Chemical Company
12. Eastman Chemical Company
14. Elementis Global
15. The Euclid Chemical Company
18. Global Drilling Fluids and Chemicals Limited
19. Hangzhou Jingyi Chemical Co., Ltd.
20. The Lubrizol Corporation
21. Mallard Creek Polymers, Inc
23. PPG Industries
24. San Nopco Korea Ltd.
25. SNF Holding Company
Technological advancement to improve weed resistance in GM crops and ensure fewer efforts for tillage will enhance the industry . Increasing concerns related to tillage among the farmers has enhanced the glyphosate market.
Forestry, farming, orchards, parks and vineyards are the other potential applications of the product. Development of low-cost herbicide coupled with easy available labour particularly in China and India has enhanced the industry growth.
Strict guidelines by government for using agrochemicals particularly in North America and European Union owing to increasing evidence regarding hazardous impact on environment and human health may restrain the glyphosate market. However, UN and WHO has claimed that these products are nontoxic in nature and are unlikely to cause cancer which will create enormous opportunities for the product growth in farming industry.
Browse key industry from the report, “Glyphosate Market” in detail along with the table of contents:
Glyphosate market was led by conventional crops accounting for more than 55% of overall industry in 2016. High prices associated with genetically modified seeds are key reason supporting the conventional farming techniques.
GM crops is anticipated to observe growth around 6% by 2024. Improved weed resistance and crop yield are the key factors enhancing the product development.
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