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Herbicides Market anticipated to witness significant growth by 2024

Author : Ronak Bora | Published Date : 2019-03-27 

Based on origin, herbicides market is classified as synthetic and biological. As of now, the synthetic type has major share owing to higher efficiency and lower cost. However, environment protection agency is primarily responsible for regulating herbicides in the European countries.

Based on mode of action, herbicides industry is segmented into selective and non-selective. Non-selective contributes largest market share with their application for both grass weeds and broad leaf. These are preferred as they can be used for many vegetation types. Selective types are manufactured for controlling only certain plants without harming the other species. Selectivity is based on differential absorption, translocation, morphological or physiological differences between species of plant.

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With respect to crop type, herbicides market is classified into oilseeds & pulses, cereals & grains and fruits & vegetables. Cereal and grain has larger share as these are cultivated in most of the regions to meet food grain requirements. These are preferred by farmers as it increases the overall yield by reducing crop wastage due to weeds. Cereal and grain crop protection segment is growing at 3% per year.

As per mode of application, market is classified as foliar spray and soil treatment. The foliar spray has major share owing to ease of application and efforts reduction. In soil treatment, these are applied directly to soil and taken up by weeds either by passive or active mechanism.

Major restraint for market is its toxic content. Its improper application leads to direct or indirect contact with humans & wildlife and has health effects like skin rashes and poisoning. Some products like 2,4-D are banned as these enhance the likelihood of cancer in humans. Weed resistance is one of the concerns for the product and attributed to its continuous application or lack of rotation. The environmental actions like wind and rainfall further reduces its efficiency.

Asia Pacific has largest market share owing to higher production and consumption, growing population and disposable income. Latin America led by Brazil and Argentina has substantial share with expansion in farmlands and awareness among farm cultivators regarding its benefits.

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Stringent government regulation in Europe and the U.S are anticipated to restraint market growth in these regions. Bio based herbicide has great growth opportunity owing to increasing demand for organic food along with strict food safety norms.

The major players of herbicides market include Beyer, BASF, DuPont, Mostanto, FMC Corporation, Nufarm, Dow Chemicals, Nissan Chemicals, Platform Speciality Products and Drexel Chemicals. Companies are spending on new technology and undergoing mergers to increase their share.

BASF is focussing on research and development activities for new active ingredients formulation to meet government regulations. They have undergone entrepreneurial partnership with Monsanto, one of the key players of herbicides market.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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