Glufosinate Market by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), and Formulation Type (Aqueous Suspension, Liquid, Suspension Concentrate, Soluble (Liquid) Concentrate, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026
The global glufosinate market was valued at $544.8 million in 2018, and is projected to reach $2,097.7 million by 2026, growing at a CAGR of 19.0% from 2019 to 2026. Glufosinate is a naturally occurring herbicide isolated from two species of Streptomyces fungi. It is widely used as a substitute of glyphosate and paraquat and is used to control a wide range of weeds such as morning glories, hemp sesbania (Sesbania bispinosa), Pennsylvania smartweed (Polygonum Pensylvanicum), and others. Its usage as a crop desiccator facilitates harvesting. Rise in concern toward wide usage of agrochemicals in various crops has led to a shift toward bio-based solutions, which is anticipated to boost growth of the glufosinate market.
Major factors expected to drive the demand for glufosinate in the future are its broad weed spectrum and high efficacy. Use of glufosinate is considerably safe on crop plants when compared with other herbicides, and it can be used in combination with other herbicides, which makes it a lucrative option for both manufacturers and farmers. Glufosinate herbicides cause toxicity in animals and flora & fauna, which is anticipated to hamper the growth of the market.
The global glufosinate market is segmented into crop type, formulation type, and region. Depending on crop type, the glufosinate market is classified into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. On the basis of formulation type, it is categorized into aqueous suspension, liquid, suspension concentrate, soluble (liquid) concentrate, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the global glufosinate market are Bayer AG, Limin Chemical Co., Ltd., Zhejiang Yongnong Chem. Ind. Co., Ltd., UPL Limited, Lier Chemical Co., Ltd., Jiangsu Seven Continents Green Chemical Co., Ltd., SinoHarvest Corporation, DuPont de Nemours, Inc., BASF SE, and Nufarm limited.
KEY BENEFITS FOR STAKEHOLDERS
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global glufosinate market from 2019 to 2026 to determine the prevailing opportunities
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume
Profiles of leading players operating in the market are provided to understand the global competitive scenario
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth
KEY MARKET SEGMENTS
By Crop Type
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
By Formulation Type
Soluble (Liquid) Concentrate
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY MARKET PLAYERS
Limin Chemical Co., Ltd.
Zhejiang Yongnong Chem. Ind. Co., Ltd.
Lier Chemical Co., Ltd.
Jiangsu Seven Continents Green Chemical Co., Ltd.
DuPont de Nemours, Inc.
The other players operating in the value chain of the global glufosinate market are Syngenta, United Phosphorous, Inner Mongolia Jiaruimi Fine Chemical Co. Ltd., Jiangsu Huangma Agrochemicals Co., Ltd. and others.
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