North America Penoxsulam Market was worth USD 65.07 million in 2021 and estimated to be growing at a CAGR of 4.30%, to reach USD 80.32 million by 2026. It is a chemical compound having molecular mass of 483.37 g/mol and the chemical formula C16H14F5N5O5S. It is used in agricultural fields and in aquacultures.
North America Penoxsulam Market Drivers:
High efficiency of Penoxsulam compared to other kinds of pesticides, rising demand of rice and other crops around the world, most of the patent firms based on this region and increasing demand of well-maintained lawns in commercial and residential buildings are some of the factors driving this market. Besides these, increasing number of golf courts and sports grounds is also driving this market, substantially. Penoxsulam can be used in both terrestrial and aqueous environments depending upon the where it is to be used and it has an excellent ability to protect the crops against weed without harming any fauna. These factors make the modern farmers to opt for Penoxsulam. Penoxsulam is highly effective against various types of weeds, be it the grass or broad-leafed plants.
North America Penoxsulam Market – By Crop Type:
Rice fields have emerged as the leading segment for demand of Penoxsulam herbicide accounting for almost 85% of the North America market.
The North America Penoxsulam market has also been geographically segmented into USA and Canada. It is the second largest market in the world in terms of global share. Among the two regions segmented under this region, USA is leading the market in this region in terms of both share and growth rate.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the North America Penoxsulam market are Dow Chemical Co., Bayer CropScience AG, Syngenta International AG, Chemtura Corp., Monsanto Co., Nufarm Ltd., Shijiazhuang Xingbai Bioengineering Co. and BASF SE.
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