Glufosinate is a naturally occurring herbicide isolated from two species of Streptomyces fungi. It is widely used as a substitute of glyphosate & 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. Growing concern toward augmented usage of agrochemicals has led to a shift toward bio-based solutions, which is likely to boost growth of the glufosinate market.
Major factors that are expected to drive the demand for glufosinate in the future are its broad weed spectrum and high efficacy properties. Use of glufosinate is considerably safe on crop plants when compared to 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 may hamper the growth of the market.
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The glufosinate market is segmented on the basis of crop type, which includes cereals & grains, oilseeds & pulses, fruits & vegetables, and others. Among all the crop types cereals & grains segment is expected to witness highest CAGR of 19.4% during the forecast period. The market is also segmented on the basis of formulation type such as aqueous suspension, liquid, suspension concentrate, soluble liquid concentrate, and others. Geographically, the market is segmented into four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. Presently, North America occupies a major share of the market, followed by Asia-Pacific and Europe. However, Asia-Pacific is expected to witness highest CAGR of 20.6% during the forecast period.
Top three strategies adopted by major market players of this market include capacity expansion, product launches, and collaborations over last three years. Recently, Bayer CropScience has invested around $500 million in the U.S. to double the production capacity of glufosinate herbicides (Liberty). Companies profiled in this report include Bayer CropScience, Lier Chemical Company Ltd., Zhejiang Yongnong Chem. Ind. Co., Ltd., UPL Ltd., and Hebei Veyong Bio-chemical Co., Ltd.
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KEY MARKET BENEFITS:
- Comprehensive analysis of factors that drive and restrict the growth of the global glufosinate market is provided.
- The projections in the report are made by analyzing the current market trends and future market potential for the 2014–2022 period in terms of value and volume.
- Region-wise and country-wise, the glufosinate market conditions are comprehensively analyzed.
- Exhaustive analysis of the market by application helps in understanding the penetration level of glufosinate in various crops in different regions and countries.
- Competitive intelligence (of leading manufacturers and distributors) facilitates in understanding the competitive scenario across the geographies.
- SWOT analysis highlights the internal environment of leading companies for effective strategy formulation.
- An in-depth analysis of current research and clinical developments within the glufosinate market is provided with key market dynamic factors, which helps in understanding the behavior of the market.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
- Key market players are profiled in the report and their strategies are analyzed thoroughly, which provides a competitive outlook of the global glufosinate market.
GLUFOSINATE MARKET SEGMENT:
The world glufosinate market is segmented as follows:
By Crop Type
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
By Formulation Type
- Aqueous Suspension
- Suspension Concentrate
- Soluble (Liquid) Concentrate
- North America
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