Press release
Glyphosate Market 2019 Growth Status, Trends Factor, Industry Size by 2024 | By Key Players Bayer CropScience, BASF, Nufarm, SinoHarvest Corporation
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.
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.
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.
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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Glimpse of Table of Content (ToC)
Chapter 4 Glyphosate Market, By Application
4.1 Global glyphosate market share by application, 2015 & 2024
4.2 Conventional crops
4.2.1 Glyphosate market estimates and forecast from conventional crops, 2013 – 2024, (Kilo Tons) (USD Million)
4.2.2 Glyphosate market estimates and forecast from conventional crops by region, 2013-2024, (Kilo Tons) (USD Million)
4.3 GM Crops
4.3.1 Glyphosate market estimates and forecast from GM crops, 2013 – 2024, (Kilo Tons) (USD Million)
4.3.2 Glyphosate market estimates and forecast from GM crops by region, 2013-2024, (Kilo Tons) (USD Million)
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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.
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