Press release
Selective Herbicides Market Size, Share, Emerging Trends, Demand, Revenue and Forecasts Research 2030
The unhindered transmission of the COVID-19 infection has brought global economic activities to a sudden halt. Industrial growth has stalled, which has directly affected businesses, especially small businesses. While governments around the world are making frantic efforts to salvage the situation, uncertainty looms large over the business world. However, where there is life, there is hope and this crisis too shall pass. At Fortune Business Insights™, we are continuously working to provide businesses with comprehensive market intelligence to help them steer themselves out of these challenging times. Our expert research is dedicated to equip your business with the necessary tools to emerge victorious once this crisis abates.
Highlights of the Report:
Exhaustive research into the market trends, drivers, and restraints;
In-depth analysis of the key market players and their top strategies;
Comprehensive study of the regional dynamics of the market; and
Granular evaluation of the segments of the market.
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Market Driver
Increasing Yield Losses by Attacks to Stoke Adoption of Selective Herbicides
attacks on crops and plants have deeply affected agricultural productivity and farm yield, leading to massive economic losses. According to a study by the University of Queensland in Australia, uncontrolled growth cause losses worth AUD 3.3 billion annually to Australian farmers, translating to 2.7 million tons of grain loss at the national level. In developing countries, the losses are even more staggering. In India, for example, s cost the Indian agriculture sector over USD 11 billion each year, with the biggest losses witnessed in peanuts in 2018. Moreover, due to the climatic conditions and the adverse effects of global warming, crops in developing and underdeveloped economies have been subject to frequent pest attacks, as pointed out by a recent study published in the journal 'Proceedings of the National Academy of Sciences'. India, for example, has faced around 10 major and pest attacks in the last 15 years, the latest one being the fall armyworm attack that devastated the maize crop in 2018. Selective herbicides are therefore high in demand in these countries as their governments are rapidly adopting management solutions to ensure stable farm yield.
Regional Insights
Rising Emphasis on Boosting Agricultural Productivity to Aid Growth in Asia Pacific
Asia Pacific is poised to dominate the selective herbicides market share in the near future owing to the heightened need in the region to rapidly enhance agricultural productivity. Besides this, quick adoption of modern farming practices and increasing production of cereals will provide additional acceleration to the market growth in the region.
The North America market is set to benefit from the well-organized and structured agriculture sector in the region. Moreover, massive agricultural subsidies will also promote the adoption of advanced herbicidal solutions in the region. In Europe, the main growth determinant will be the gradual shift towards sustainable agriculture practices, while the penetration of sophisticated crop protection technologies will aid the growth of the market in Latin America.
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Competitive Landscape
Strategic Partnerships Aimed at Innovation to Intensify Competition
The marquee feature of the competitive landscape of this market is the exciting collaborations between key players, which aimed towards enhancing innovation capacities and broadening business horizons. In addition to this, some other companies are formulating plans to strengthen their product portfolio in the next few years through strategic investments in R & D.
Industry Developments:
March 2020: Corteva Agriscience entered into a multi-year collaboration with AgPlenus to design, develop, and deliver novel herbicide solutions. The partnership will be based on the unification of Corteva's expertise in crop protection product discovery and AgPlenus's strength in engineering sustainable and effective crop protection solutions.
January 2019: FMC Corporation announced plans to introduce innovative herbicides for rice, corn, and soybean plants over the next decade. The company has one molecule in the pipeline for rice, while research is on-going on another molecule, which has been highly effective on Palmer amaranth, for corn and soybeans.
List of Key Players Covered in the Selective Herbicide Market Report:
Drexel Chemical
Dow DuPont
Nissan Chemical Industries
FMC Corporation
Israel Chemicals Ltd.
Syngenta
Arysta
Monsanto
BASF SE
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