Press release
Glufosinate Market is Expected to Record a CAGR of 19.0% from 2019 to 2026
According to the report published by Allied Market Research, the global glufosinate market generated $544.8 million in 2018, and is estimated to reach $2.09 billion by 2026, registering a CAGR of 19.0% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, pricing analysis, business performance, top player positioning, and competitive landscape.
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Development of genetically modified glufosinate-tolerant crops and substitute to glyphosate and paraquat drive the growth of the global glufosinate market. However, toxicity in flora & fauna hinder the market growth. On the other hand, rising demand from both developed and emerging economies create new opportunities in the coming years.
Covid-19 scenario:
• During the coronavirus pandemic, the agrochemical industry has been impacted greatly. The China is the major supplier of base ingredients in the agrochemical industry. Some of the Chinese raw material manufacturing factories have stopped their production activities for unknown time.
• Moreover, restrictions on transportation and social gathering have disrupted the supply chain even though the demand is high.
The report offers a detailed segmentation of the global glufosinate market based on crop type, formulation type, and region.
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Based on crop type, the oilseeds & pulses segment contributed to the largest share in 2018, accounting for around one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the cereals & grains segment is expected to register the highest CAGR of 19.2% from 2019 to 2026.
Based on formulation type, the soluble (liquid) concentrate segment accounted for the largest share in 2018, holding more than half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the aqueous suspension segment is estimated to portray the highest CAGR of 20.7% during the forecast period.
Based on region, North America contributed the highest share, accounting for more than two-fifths of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 20.3% from 2019 to 2026.
Leading market players analyzed in the research include Bayer AG, Zhejiang Yongnong Chem. Ind. Co., Ltd., Limin Chemical Co., Ltd., UPL Limited, Jiangsu Seven Continents Green Chemical Co., Ltd., Lier Chemical Co., Ltd., DuPont de Nemours, Inc., Nufarm limite.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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