Penoxsulam Market was worth USD 325.34 million in 2021 and estimated to be growing at a CAGR of 5.10%, to reach USD 417.21 million by 2026. Penoxsulam is a chemical compound having the chemical formula C16H14F5N5O5S with a molecular mass of 483.37 g/mol. It is used in the agricultural field as rice herbicide.
It can be used in both terrestrial and aqueous environments and it has an excellent ability to protect the crops against weed without harming any fauna. These are the factors that encourage farmers to use this herbicide. Penoxsulam is highly effective against various types of weeds.
Penoxsulam Market Driving:
High efficiency of Penoxsulam compared to other kinds of pesticides, rising demand of rice and other crops around the world and increasing demand of well-maintained lawns in commercial and residential buildings are some of the factors driving this market. Besides these, an increasing number of golf courts and sports grounds is also driving this market, substantially.
REPORT METRIC |
DETAILS |
Market Size Available |
2020 – 2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
10% |
Segments Covered |
By Crop Type and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Dow Chemical Co., Bayer CropScience AG, Syngenta International AG, Chemtura Corp., Monsanto Co., Nufarm Ltd., Shijiazhuang Xingbai Bioengineering Co., and BASF SE and Others. |
Penoxsulam Market Segmentation:
Rice
As the demand for food is increasing because of the increasing population. Being staple food, the demand for rice has increased the most, which has led to the increased demand of Penoxsulam pesticide. As a result, rice fields have emerged as the leading segment for the demand for Penoxsulam herbicide accounting for almost 85% of the market.
In 2016, Asia-Pacific had the biggest Penoxsulam market accounting for almost 55% of global market share. India and China alone in Asia-Pacific account for more than 50% of the share of the Asia-Pacific market. Asia-Pacific also has the fastest-growing rate in this market because of the fact that the livelihood of a major population of the two biggest democracies in this region, viz. India and China depend on farming.
Key Players:
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the global 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.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com