Latin America Pinoxaden Market was worth USD 34.11 million in 2021 and estimated to be growing at a CAGR of 11.9%, to reach USD 54.94 million by 2026.
The market has high potential for growth during the mentioned period. It will continue its momentum even after the forecast period due to the developing Agricultural sector.Pinoxaden is a selectively attacking herbicide which was discovered in the recent years by a Swiss company called Syngenta AG. The growing importance of herbicides has resulted in companies to enhance their research activities in agrochemicals field which is estimated to drive the pinoxaden market growth.
Pinoxaden is applied against weeds in a lot of 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 Latin America Pinoxaden Market:
The Latin America pinoxaden market growth is driven by factors like increasing population, stabilizing economy and rising demand for agricultural food production. However, the main factors restricting this market’s growth are the risks of their manual usage and government regulations in some areas.
Latin America Pinoxaden Market - By Crop:
Wheat crops almost owned more than half of the revenue generated by Latin America pinoxaden market as of 2016 and are expected to persist being the leading crop segment during the forecast period.
The Market is Geographically divided into:
The Latin America has many developing countries like Brazil and Mexico and this factor is expected to drive the growth of Latin America Pinoxaden Market.
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