Herbicides Market Research: Herbicides are also called as weed killers and are bifurcated as selective herbicides and non-selective herbicides. According to the U.S. Department of Agriculture’s Economic Research Services, the global TFP rate has been rising by an average annual rate of 1.75%, hoping to create a huge herbicides marketplace by 2020.
The same projects are supported by an IndustryARC report, which has estimated the global herbicides market value to be $30 billion as of 2018 and projected the demand in the increase at a formidable CAGR of 8% during the forecast period of 2019 to 2025. The report is titled “Herbicides Market: By Selectivity (Selective, Non selective) ; By time of application (Pre-plant, Preemergence, Postemergence); By method of application ( Foliar, Soil) ; By mode of action (Contact , Translocated); By molecular nature(Organic, Inorganic) ; By formulation(Emulsifiable concentrate, Wettable powder, Granules, Water soluble concentrate) ; By chemical nature(Lipid synthesis inhibitor ,Amino acid synthesis Inhibitors ,Growth regulators ,Photosynthesis Inhibitor ,Nitrogen metabolism inhibitor ,Pigment inhibitor ,Cell membrane disrupter ,Seedling root growth inhibitor ,Others) By Industry (Agriculture, Landscaping, Golf course, Forestry, Others) ;By Geography – Forecast(2019-2025).”
APAC has the highest potential in herbicides market as compared to any other region globally, which translated to more than 40% demand share in 2018. The key application of herbicides market is in the agriculture sector which will grow with an estimated CAGR of around 5% during the forecast period of 2019 to 2025. While the demand is a little slow in the APAC market, the overall demand for agriculture products is still rising.
Herbicides Market: Recent Developments
Some of the major key players are listed below that have outrageously helped the agriculture sector to grow:
Bayer AG Acquires Monsanto
Bayer AG successfully completed the acquisition of Monsanto in 2018. This acquisition will help its customers find the solutions to meet their needs with seeds, traits, agriculture, crop protection, and herbicides. This will eventually help the herbicides market to grow. In the long run, this acquisition will be able to accelerate innovation and provide more solutions.
The merger between Dow AgroSciences and DuPont Pioneer and Corteva Agriscience
In 2017, Dow AgroSciences and DuPont Pioneer merged together, housing seed, pesticides, insecticides, and herbicides segments. Corteva Agriscience observed more than $14 billion in revenue in 2017 and has a portfolio of herbicides, fungicides, insecticides, and seed in 11 different crops. The company is focusing on surviving on better crops for which Cortevawill have to approach pesticides and herbicides industry.
Syngenta AG Enters Wheat Herbicides Market
In May 2017, Syngenta AG entered the wheat herbicides market with its new Talinor cereals herbicides. This is a brand new active ingredient which is designed for corn product, barley, durum, spring wheat, and winter wheat. This will be the first time when Syngenta AG will be entering into herbicides market and according to them, this will revolutionize marketplace as well.
The herbicides market is growing at a good pace because of the increasing demand in the food and agriculture industries. APAC is dominating the market with the maximum regional share.
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Soil Active Herbicides Market
Weed Control Market