The global herbicides market is estimated at USD 27.21 billion in 2016, and is projected at USD 39.15 billion by 2022, at a CAGR of 6.25% during the forecast period.
The primary factors that drive the herbicides market are adoption of better farming practices and rise in production of cereals & grains, especially in the Asia-Pacific region. The major restraints in the herbicides market are the carcinogenic effect of certain active ingredients used in herbicides. Herbicide residue is also one of the major restraints and can cause serious damage to crops if not carefully monitored and controlled.
The glyphosate segment, by type, accounted for the largest market share in 2015, owing to its usage on almost all crop types. Glyphosate is a non-selective herbicide used primarily for perennial weed control and in zero tillage grain production systems. It is also crucial to the production of genetically modified herbicide-resistant crops.
The oilseeds & pulses segment, by crop type, is projected to have the highest CAGR during the forecast period. This is due to the growing demand for soybean which is a major edible oil. Moreover, there has been a rise in the usage of herbicides in the cultivation of pulses especially in Asian countries in recent years.
- BASF SE
- Drexel Chemical Company
- E.I. Du Pont de Nemours and Company
- Fmc Corporation
- Monsanto Company
- Nissan Chemical Industries Ltd.
- Nufarm Limited
- Platform Specialty Products Corporation
- Syngenta AG
The Dow Chemical Company
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Herbicides Market, By Type
8 Herbicides Market, By Mode of Action
9 Herbicides Market, By Crop Type
10 Herbicides Market, By Region
11 Company Profiles
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