Latest Regulatory Trends Impacting the Herbicides Market

The global herbicides market is estimated at USD 27.21 billion in 2016 and is projected to reach USD 39.15 billion by 2022, at a CAGR of 6.25% during the forecast period. The primary factors that drive the herbicides market are the adoption of better farming practices and rise in production of cereals & grains particularly in the Asia Pacific region.

Herbicides are one of the major crop protection chemicals used for weed control. The herbicides market is segmented on the basis of herbicides type, mode of action, crop type, and region. On the basis of type, the herbicides market was dominated by the glyphosate segment and was followed by diquat and 2,4-D segments in 2015. With increasing use of glyphosate-based products in various forms, such as gel and powder across countries, glyphosate is projected to remain a leading segment. Diquat herbicide accounted for the second largest market share in 2015. Diquat is considered as a substitute for paraquat as both are non-selective contact herbicides and have almost similar chemical properties. Hence, the usage of diquat has increased, particularly in China and other developing economies, after declaring paraquat a restricted use pesticide (RUP) by environmental protection agencies in more than 30 countries.

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Non-selective segment, by mode of action, is projected to grow at the highest CAGR during 2016 to 2022.

Non-selective herbicides, based on the mode of action, are projected to have the highest CAGR during the forecast period. Since non-selective herbicides are formulated for both broadleaf and grass weeds, they find wider application on almost all vegetation types and are preferred more than selective herbicides.

The cereals & grains segment accounted for largest market share in 2015.

Herbicides are applied on a wide scale to most cereal crops to control weeds. Cereals are grown widely across the world, but growth is projected to be higher in the Asia-Pacific region due to increased consumption of rice in the daily diets here. The global demand for herbicides in this segment is high and is projected to grow as producers are focusing on increasing the per unit yield.

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South American region dominated the herbicides market in 2015.

The South American region dominated the herbicides market in 2015. This is due to the emergence of South American countries as agricultural powerhouses, growing above the global growth average. Growth in this region is significantly contributed to by the growth in Brazil and Argentina. Economic growth in South America has been supported by democratization and economic reforms. Availability of arable land and expansion of farmlands, especially in Brazil and Argentina, are driving the growth in this market.

Additionally, the regulatory framework in South America is less stringent as compared to North America and Europe. The Pesticide Action Network (South America) handles regulatory control in the region. T Herbicide products can be registered with minimum resistance from other regulatory agencies in the South American region.

This report includes a study of development strategies, along with the product portfolios of the leading companies in the herbicides market. The key companies profiled are BASF SE (Germany), The Dow Chemical Company (U.S.), E.I. du Pont de Nemours & Company (U.S.), Monsanto Company (U.S.), and Syngenta AG (Switzerland), FMC Corporation (U.S.), Platform Specialty Products Corporation (U.S.), Nufarm Ltd. (Australia), Nissan Chemical Industries Ltd. (Japan), and Drexel Chemical Co. (U.S.).

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