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Global Glufosinate Market 2023 Future Outlook, Competitive Landscape, Growth Rate And Key Players Analysis Till 2032 | Bayer AG, YongNong BioSciences Co Ltd., UPL Limited., DuPont de Nemours Inc., Hebei Veyong Biochemical Co Ltd.
Glufosinate Market
The Business Research Company's Glufosinate Global Market Report 2023 identifies demand for genetically modified crops as the major driver for the Glufosinate Market's growth in the forecast period. Genetic modification crop involves inserting a specific stretch of genetic material into the plant's genome to provide new or altered features that are utilized to produce ingredients for human use such as corn flour, corn syrup, and corn oil. Glufosinate is a broad-spectrum herbicide that is often used to reduce weeds on genetically modified crops as well as their interactions with microplastics, as a result, demand for genetically modified crops increases the demand for glufosinate.
The global glufosinate market size is expected to grow from $2.09 billion in 2022 to $2.31 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global glufosinate market size is expected to reach $3.27 billion in 2027 at a CAGR of 6.8%.
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Major competitors in the glufosinate market are Bayer AG, YongNong BioSciences Co Ltd., UPL Limited., DuPont de Nemours Inc., Hebei Veyong Biochemical Co Ltd., Jiangsu Huangma Agrochemicals Co Ltd., Nufarm Ltd., Limin Chemical Co Ltd., Lier Chemical Company Ltd., SinoHarvest, BASF SE, The Monsanto Company, Jiangsu Seven Continents Green Chemical Co Ltd., Inner Mongolia Jiaruimi Fine Chemical Co Ltd., and Simonis BV.
A key trend in the Glufosinate Market includes technological advancement. Companies operating in the glufosinate market are adopting new technologies to sustain their position in the market. For instance, in August 2020, UPL Australia Pty Ltd., an Australia-based provider of sustainable agriculture products, launched Fascinate DRY Herbicide new high-strength glufosinate herbicide. It is uniquely designed with surfactant technology that provides broad-spectrum weed control of grasses, broadleaf weeds, and vines. It is a high-load and non-selective post-emergent herbicide that has good solubility without separating or depositing sediment, which makes it easy to use in the paddock.
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The Glufosinate Market is segmented -
By Crop Type: Genetically Modified Crops, Conventional Crops
By Formulation: Aqueous Suspension, Liquid, Suspension Concentrate, Soluble (Liquid) Concentrate, Other Formulations
By Application: Non-Agricultural, Agricultural, Oilseeds And Pulses, Grains And Cereals, Fruits And Vegetables, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Glufosinate Market.
The Business Research Company's "Global Glufosinate Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Glufosinate Market Include:
1. Executive Summary
2. Glufosinate Market Characteristics
3. Glufosinate Market Trends And Strategies
4. Glufosinate Market - Macro Economic Scenario
5. Glufosinate Market Size And Growth
……
26. Africa Glufosinate Market
27. Glufosinate Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Glufosinate Market
29. Glufosinate Market Future Outlook and Potential Analysis
30. Appendix
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