The Glufosinate Market Is Predicted To Reach USD 2.57 Billion With A CAGR Of 9.28% According To Market Data Forecast Report

The Glufosinate Market Is Predicted To Reach USD 2.57 Billion With A CAGR Of 9.28% According To Market Data Forecast Report

ID: 1810 | October 2018 | Region: Global

The Glufosinate Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Glufosinate Market is estimated to be USD 1.65 billion in 2018 and predicted to rise to USD 2.57 billion by 2023 with a CAGR of 9.28%. The market is segmented by Crop Type (Genetically Modified Crops and Conventional Crops), by Form (Liquid and Dry), by Application (Agricultural (Grains & Cereals, Oilseeds & Pulses, Fruits & Vegetables and others) and Non-Agricultural). Further the market is also segmented geographically into regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.

According to current market trends, the Glufosinate market is expected to show evident potential in the coming year. The growth of the market is attributed to the factors like rise in demand for Glufosinate as a substitute for glyphosate and paraquat, herbicide contribution in securing food bowl, expansion of use of herbicide tolerant crops and new trend for GM crop acceptance and approval. The factors causing hurdles in the path of market’s growth include, stringent government regulations, toxic effect of Glufosinate and ban on market in Europe.

The global Glufosinate market is segmented on the basis of crop type, form and application. Based on crop type the market is dominated by genetically modified crops due to easier availability and wide usage. The liquid form is used more than the dry form due to its low temperature stability and shorter usage process. On the basis of application grains and cereals accounted for the largest market segment in 2016.

On the basis of geographical analysis, the market is segmented into various regions among which the North America market dominates the market share which is then followed by Europe and Asia-Pacific. Latin America region is expected to witness the highest growth rate in the upcoming years.

Among various companies showing interest in the Glufosinate market, the major ones are Bayer AG, E. I. du Pont de Nemours and Company, The Dow Chemical Company, Syngenta AG, Nufarm Ltd, UPL, Jiangsu Huangma Agrochemicals Co Ltd., Hebei Veyong Bio-Chemical Co Ltd., Jiangsu Seven continent Green Chemical Co Ltd., Zhejiang Yongnong Chem. Ind. Co. Ltd.

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