Glufosinate Market

Glufosinate Market Size & Growth (2022 - 2027):

Glufosinate Market was worth USD 3.65 billion in 2021 and estimated to be growing at a CAGR of 9.28%, to reach USD 5.57 billion by 2026.

The Market is showcasing the evident potential in the mentioned forecasting period. The market continues to gain momentum due to factors such as glufosinate’s high efficacy and broad weed spectrum. Glufosinate finds varied applications in both agricultural and non-agricultural sectors. Glufosinate is a kind of herbicide with high effectiveness, generally used for weed control in various types of crops all over the globe. Farmers rely on Glufosinate because it helps in providing a high degree of crop safety and its vast area of effect avoiding the need for different herbicides for different kinds of weeds on a given crop.

Glufosinate Market Drivers:

The rise in the demand for Glufosinate as a substitute for paraquat and glyphosate has resulted in the Glufosinate market to show immense potential in recent years. Other major factors driving the market include steady expansion of herbicide-tolerant crops usage, herbicide contribution in securing food bowl, GM crop acceptance and approval trend. The market also faces some challenges and restraints which hold it back from showing even better growth. Some of the important ones are toxic effects of Glufosinate, stringent government regulations. Moreover, the European market has banned the business of Glufosinate.

GLUFOSINATE MARKET REPORT COVERAGE:

Market Segmentation:

Glufosinate Market - By Crop Type:

• Genetically Modified Crops

• Conventional Crops

 Glufosinate Market - By Form:

• Liquid
• Dry forms

Glufosinate Market - By Application:  

• Agricultural
• Non-agricultural

Geographical Analysis:

Based on geography, the global market is analyzed under various regions namely

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The Glufosinate market was dominated by North America, with the overall market share of over 36% globally. North America was followed by Europe and Asia-Pacific. Latin America is predicted to show the highest growth rate in the years to come.

Key Players:

Some of the major companies dominating the Glufosinate market include Bayer AG, The Dow Chemical Company, E. I. du Pont de Nemours and Company, Syngenta AG, UPL, Nufarm Ltd, Jiangsu Huangma Agrochemicals Co Ltd., Jiangsu Seven continent Green Chemical Co Ltd., Hebei Veyong Bio-Chemical Co Ltd., Zhejiang Yongnong Chem. Ind. Co. Ltd.