Herbicides Market Overview:
Herbicide is a chemical substance used to control or manipulate undesirable vegetation, especially weeds. Herbicides are either pre-plant, pre-emergent or post- emergent. Post emergent are further classified into selective herbicides which kill specific unwanted plants while leaving desirable vegetation relatively unharmed and non-selective herbicides which kill all or most plant species. They can be applied directly to the plant, applied to the soil, or sprayed onto the foliage. The most commonly used herbicides include Glyphosate, 2, 4-D, Atrazine, Dicamba, Diquat, Acetochlor, and others. They are used in oilseeds & pulses, cereals & grains, fruits & vegetables, and others.
Growing acceptance of modern farming is adding fuel to the growth of herbicides market. Owing to the improved efficiency of crops through herbicides, major players are investing in research and development which is further boosting the growth of global herbicides market. However, hazards associated with synthetic herbicides have led to several stringent regulations on the use of herbicides which may hamper the growth of herbicides market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 5.9% of herbicides market during the forecast period 2017-2023.
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Some of the key players profiled in the global herbicides market are BASF SE (Germany), The Dow Chemical Company (U.S.), Monsanto Company (U.S.), FMC Corporation (U.S.), Bayer AG (Germany), Agrium Inc (Canada), PI Industries (India)
Herbicides market is segmented on the basis of active ingredients such as Glyphosate, 2, 4-D, Atrazine, Dicamba, Diquat, Acetochlor, and others. Among them 2, 4-D is the first chemical herbicide discovered and remains one of the most commonly used herbicides owing to its low cost and effective usage. However, Glyphosate is the fastest growing segment. RoundUp, which is the most used herbicide globally contains active ingredient glyphosate.
Based on the type, herbicides market is segmented into pre-plant, pre-emergent, and post- emergent herbicides. The post-emergent herbicide is further segmented into selective and non-selective herbicides. Among all, post emergent herbicide is the fastest growing segment.
On the basis of method of application, herbicides market is segmented into soil and foliar. Foliar applied herbicides are dominating the market and is expected to grow substantially over the forecast period.
Based on the application of herbicides, the market is segmented into oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Among all, cereals & grains are dominating the market. However, fruits and vegetables are expected to witness substantial growth over the forecast period.
The global herbicides market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific dominates the market and is projected to witness substantial growth over the estimated period. India and China which are two of the largest countries in terms of population are majorly contributing the growth of herbicides in this region.
North America is the second largest consumer for herbicides. However, stringent environmental regulations in the developed economies of North America and Europe are expected to restraint market growth in these regions. Bio based herbicides are expected to offer huge growth opportunity in North America and Europe. For rest of the world, South America is projected to witness high growth owing to increasing demand for crops in this region.
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