The Asia-Pacific Pinoxaden Market was worth USD 122.55 million in 2021 and estimated to be growing at a CAGR of 12.9%, to reach USD 220.83 million by 2026.
The market is currently showing a high potential for growth during the mentioned period. It will continue to gain momentum because of the recent developments in the Agricultural sector.Pinoxaden is a selectively attacking herbicide that was discovered in recent years by a Swiss company called Syngenta AG. The realization of the important role played by herbicides has resulted in companies to develop research activities in the agrochemicals field which is expected to drive the pinoxaden market growth.
Pinoxaden is used against weeds in many common cereal crops and it shows high efficacy for cereal crops like wheat and barley as it kills the growth of a variety of weed species ranging from wild oats to black grass and canary grass which reduce the yield of these cereal crops. Pinoxaden is generally used along with either cloquintocet-mexyl or clodinafop-propargyl.
Drivers and Restraints of Asia-Pacific Pinoxaden Market:
The Asia-Pacific pinoxaden market growth is driven by factors like increasing population, rising demand for agricultural food production, increased popularity of organic foods and growing awareness levels regarding agrochemicals. However, the main factors restricting this market’s growth are the risks associated with their manual usage and stringent government regulations in certain areas.
Asia-Pacific Pinoxaden Market - By Crop:
Wheat crops almost owned more than half of the revenue generated by the Asia-Pacific pinoxaden market as of 2018 and are expected to persist being the leading crop segment during the forecast period.
On the basis of geography, the Asia-Pacific pinoxaden market is segmented into and analyzed under the regions China, India, Japan, and South Korea. The Asia-pacific leads the world in terms of growth rate and India and China are the leading producers of wheat on a global level.
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