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Atrazine Market Analysis by Emerging Trends, Size, Share, Future Growth, Current Statistics, Brand Endorsements and Global Industry Forecast till 2024
Atrazine Market
Atrazine is one of the mostly widely used herbicides for effective, affordable, and safe weed control. It is used on a variety of crops including corn, sugarcane, sorghum, wheat, summer fallow, forestry or woodlands, conifers, Christmas tree, and residential and recreational turf (parks, golf courses). The use of atrazine helps to reduce soil erosion by 65-95% and enables farmers to grow crops with high productivity. The quality of water in rivers and streams is significantly improved due to the reduced soil erosion and fertilizer runoff. The demand for atrazine is expected to increase during the forecast period owing to these benefits offered by the product.
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Market Segmentation
The global atrazine market has been segregated on the basis of crop type, method of application, and region.
By crop type, the global atrazine market has been segmented as cereals, sugar crops, oil-bearing crops, and others. The cereals segment is further divided into maize, sorghum, wheat, and others. The oil-bearing crops segmented is further sub-segmented into soybeans, oil palm, and others. The cereals segment is expected to be the leading crop type segment during the forecast period. Atrazine is the most widely used herbicide for corn cultivation. Corn is mainly utilized for food, feed, industrial uses, and ethanol production. Due to increasing demand for corn in the aforementioned applications leads, there has been a rising concern for increasing the crop productivity. This is expected to be the key factor boosting demand for atrazine and drive market growth during the review period.
Based on the method of application, the global atrazine market has been divided into preplant, pre-emergence, and post-emergence. The post-emergence segment is anticipated to be the dominant method of application during the assessment period. This can be attributed to the growing preference of farmers towards this method and ease of application.
Competitive Analysis
The prominent players in the global atrazine market are Syngenta (Switzerland), Sipcam Agro USA (US), ADAMA (US), Zagro (Singapore), Nufarm Ltd (New Zealand), Zhejiang Zhongshan Chemical Industry Group Co. Ltd (China), Shandong Weifang Rainbow Chemical Co. Ltd (China), FMC Corporation (US), and Rallis India Limited (India).
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Regional Analysis
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five key regions studied for the global atrazine market. North America held the largest share of this market in 2017. Largescale consumption of the product for post-emergence weed control in corn farms and focused sustainable farming activities are the prominent factors driving growth of the regional market. Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period. Increasing use of atrazine in cultivation of maize and sugarcane and rising food consumption are expected to be the key factors fueling growth of this market.
The other significant regional market for atrazine is Latin America. Consistent growth of the agricultural sector in the agrarian economies of Latin America is expected to boost demand for the product in the years to follow.
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