About Glufosinate
Glufosinate is a naturally occurring herbicide isolated from two species of Streptomyces fungi. It is widely used as a substitute of paraquat and glyphosate to control a wide range of weeds such as morning glories, hemp sesbania (Sesbania bispinosa), Pennsylvania smartweed (Polygonum Pensylvanicum), and others.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.3% |
Competition among existing players is due to the Glufosinate market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Glufosinate Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States, Chinese Vendors will contribute the maximum growth to Global Glufosinate market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
E.I. Du Pont De Nemours and Company (United States), The DOW Chemical Company (United States), Syngenta AG (Switzerland), UPL (India), Bayer AG (Germany), Nufarm Limited (Australia), Jiangsu Huangma Agrochemicals Co., Ltd. (China), Zhejiang Yongnong Chem. Ind. Co., Ltd (China), Jiangsu Seven continent Green Chemical Co., Ltd. (China) and Hebei Veyong Bio-Chemical Co. Ltd (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Bayer Crop Science, Inc. (United States), Lier Chemical Company Ltd. (China), UPL Ltd. (India), Hebei Bestar Bio-Technology Co. Ltd. (China) and United Phosphorus, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Glufosinate market by , Application (Agricultural {Grains & cereals, Oilseeds & pulses, Fruits & vegetables, others [sugarcane, plantation crops, and pastures]} and Non-agricultural) and Region.
On the basis of geography, the market of Glufosinate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Form, the sub-segment i.e. Liquid will boost the Glufosinate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Crop Type, the sub-segment i.e. Genetically modified crops will boost the Glufosinate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Steady Expansion of Use of Herbicide-Tolerant Crops, The Rise in Demand for Glufosinate as a Substitute for Glyphosate and Paraquat and Herbicide Contribution in Securing Food Bowl
Challenges:
Stringent Regulations
Restraints:
Toxic Effects of Glufosinate and Banned in the European Market
Opportunities:
Herbicide-Tolerant Gm Crop Acceptance and Approval Trend and Rapid Growth in the Glufosinate Market
Market Leaders and their expansionary development strategies
In Oct 2017, BASF signed an agreement to acquire significant parts of Bayer’s seed and non-selective herbicide businesses worth 5.9 Billion Euros. The assets to be acquired include Bayer’s global glufosinate-ammonium non-selective herbicide business.
In August 2018, BASF has announced to sell LibertyLink GT27 soybeans this year. The new varieties include tolerance to glyphosate, glufosinate and isoxaflutole though the latter is not approved for over-the-top use in soybeans.
Key Target Audience
Pesticide manufacturers, Pesticide importers and exporters, Pesticide traders, distributors, and suppliers, Consumers (including farmers), Government and research organizations, Legislative and regulatory bodies and Associations and industry bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.