Glyphosate is a non-selective herbicide with chemical name N-(phosphonomethyl) glycine. The compound is widely used to control and kill weeds, including annual broadleaf weeds and unwanted grasses that grow along with crop that consume all nutrients from the soil, thereby hindering the growth of the crops. Glyphosate is effective for longer duration in soil owing to its longer half-life, which is an average of two months. Glyphosate is used for different purposes such as agriculture and public and private gardening.
Technavio’s analysts forecast the global glyphosate market to grow at a CAGR of 6.72% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global glyphosate market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Glyphosate Market 2017-2021
Technavio recognizes the following companies as the key players in the global glyphosate market: Bayer, BASF, The Dow Chemical Company, Monsanto Company, and Syngenta.
Other Prominent Vendors in the market are: ADAMA Agricultural Solutions, Anhui Huaxing Chemical Industry, GOOD HARVEST, Jiangsu Yinyan Specialty Chemicals, Nantong Jiangshan Agrochemical & Chemical, Nantong Lihua Agrochemical, Nufarm, UPL, Wynca Group, and Zhengzhou Labor Agrochemicals.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing adoption of GM seeds and crops. Industries are coming up with new GM seeds, which are profitable for the farmers as they facilitate high yield in less cost. GM crops facilitates agricultural development, agricultural growth, and agricultural sustainability. In APAC and the Americas, the adoption of GM crops is high.”
According to the report, one driver in the market is simple and cost-effective weed control solution. Glyphosate facilitates simple, flexible, and cost-effective weed control. The effectiveness of herbicide has lessened the manual labor involved in ploughing of weeds. Glyphosate once used on weeds, makes it difficult for the same type of weeds to grow on the same land for a long period. Glyphosate is mostly effective when applied to GM crops. It is available in various concentrations according to its use. It is generally water-soluble and contains surfactants.
Further, the report states that one challenge in the market is harmful effects of glyphosate. Glyphosate is a widely popular herbicide as it protects crops from pest infestation without harming the fertility of the soil or the crops. However, glyphosate is toxic to humans as it can cause cancer and respiratory diseases. In addition, it also harms the beneficial microorganisms present in the soil. The toxicity of glyphosate is associated with the level of concentration used. The toxicity of pure glyphosate on aquatic and wildlife is low. However, there are certain ingredients present in glyphosate that are harmful to the environment.
Bayer, BASF, The Dow Chemical Company, Monsanto Company, Syngenta, ADAMA Agricultural Solutions, Anhui Huaxing Chemical Industry, GOOD HARVEST, Jiangsu Yinyan Specialty Chemicals, Nantong Jiangshan Agrochemical & Chemical, Nantong Lihua Agrochemical, Nufarm, UPL, Wynca Group, and Zhengzhou Labor Agrochemicals.