Asia Pacific Glyphosate Market was worth USD 4.21 billion in 2021 and estimated to be growing at a CAGR of 7.25%, to reach USD 5.32 billion by 2026. Glyphosate is an organophosphorus compound that finds use as a broad-spectrum herbicide. It is used for killing weeds and grasses that compete with commercial crops. Weed and grass growth control remain key benefits stimulating product penetration. By volume, it is one of the most widely used herbicides.
Glyphosate is mainly used in maize, wheat, tea, cotton, sunflower, sorghum and cotton to enhance the crop yield. Other applications include farming, parks, orchards and vineyards. Glyphosates adsorb strongly into the soil and the ground and surface water pollution is minimal. It is also easily degraded by soil microbes. Glyphosate is also used extensively in invasive species eradication and habitat restoration, especially for the enhancement of native plants in prairie ecosystems. In many cities also the product is used as a spray on pavements and sidewalks, as a measure to kill the weeds that grow between the pavements and damage them.
Asia Pacific Glyphosate Market Drivers:
The major driver of the Asia-Pacific Glyphosate market is the demand for increased productivity. The region has the highest population growth as well as the highest population at the time. Hence the demand for food is very high and loss of crop productivity to weeds is not acceptable. Not only this, the region is more open to the adoption of genetically modified crops as opposed to other markets. The increase in crop feeding among livestock and the rising application scope in bio-fuel will also drive the market. Other factors include the use of the product in non-agricultural activities such as forests and woodlots, industries and domestic vegetation control. However, the stringent regulations on the use of agrochemicals and other environmental concerns may adversely affect the growth of the market.
Asia Pacific Glyphosate Market – By Crop Type:
Asia Pacific Glyphosate Market – By Application:
Based on geography, the Asia-Pacific market consists of China, India, Japan, South Korea, Australia and Rest of APAC. The Glyphosate Market is dominated by Asia-Pacific in 2016 with the region accounting for 38% of the overall market share. The changing agricultural patterns in developing economies such as China and India is the major contributor to the growth of the market.
Major Key Players:
The key players that are present in the glyphosate industry include Monsanto company (U.S.), Syngenta AG (Switzerland), Bayer AG (Germany), E.I. Du Pont De Nemours & Company (U.S.), The Dow Chemical Company (U.S.), Nufarm limited (Australia), Nantong Jiangshan Agrochemical & Chemical, Inc. (China), Adama Agricultural Solutions Ltd (Israel), UPL Limited (India), and Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China).
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