The Europe Pinoxaden Market was worth USD 319.63 million in 2021 and estimated to be growing at a CAGR of 12.6%, to reach USD 578.56 million by 2026. The market is exhibiting high growth potential in the mentioned period. It will continue to expand with the recent developments in Agricultural sector.Pinoxaden is a selective herbicide that was discovered lately by a Swiss company called Syngenta AG.
The role of providing protection to the crops from weed has resulted in companies to pay more attention on research in agrochemicals field which is expected to drive the pinoxaden market growth. Pinoxaden is used against weeds in many cereal crops and it is very efficient for cereal crops like wheat and barley as it stops the growth of many weed species ranging from wild oats to black grass and canary grass which are responsible for reducing yield of these cereal crops. Pinoxaden usually used along with a complimentary substance which is either cloquintocet-mexyl or clodinafop-propargyl.
Europe Pinoxaden Market Drivers:
Majorly, the Europe pinoxaden market growth is propelled by growing weed resistance of the current herbicide products and rising consumption of barley and wheat. Moreover, growing need of high yield crops to fulfil the demands of growing population and rising levels of awareness are also some factors which drive the pinoxaden market growth. The major factors restraining this market are risks associated with their manual usage and stringent government regulations in certain areas.
Europe Pinoxaden Market - By Crop:
Wheat crops almost owned more than half of the revenue generated by Europe pinoxaden market as of 2016 and are expected to persist being the leading crop segment during the forecast period.
On the basis of geography the Europe pinoxaden market is segmented into and analyzed under the regions Germany, France, U.K, Spain and Italy. Germany, France, and Russia are the nations that lead barley production in the world.
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