Global Herbicides Market is accounted for $27.45 billion in 2016 and is expected to reach $44.56 billion by 2023 growing at a CAGR of 7.1% during the forecast period. Factors such as selection of better farming practices globally and increase in production of cereals and grains in Asian Countries are propelling the market growth. However, cancer causing nature of certain active ingredients and herbicide residue issues are hindering the market. Growing agricultural industry in developing economies is providing the significant growth opportunities for the market.
By basis of type, glyphosate segment is anticipated to grow at the highest CAGR due to extensive maintenance in gels and powders, which are more available for usage. By geography, Asia-Pacific is anticipated to be the fastest growing market owing to progressions in crop protection techniques against weeds and requirements for low-priced generic herbicide formulations.
Some of the key players in Herbicides market include Nufarm Ltd, Syngenta AG, Adama Agricultural Solutions Ltd, Bayer Ag, Monsanto, BASF SE, Nissan Chemical Industries Ltd., E.I. du Pont de Nemours and Company, DOW Agriscience LLC, Drexel Chemical Co. and FMC Corporation.
Basis of Types Covered: 2,4-D Glyphosate Diquat Other Basis of Types Acetochlor Dicamba Glufosinate
Regions Covered: North America US Canada Mexico Europe Germany France Italy UK Spain Rest of Europe Asia Pacific Japan China India Australia New Zealand South Korea Rest of Asia Pacific South America Argentina Brazil Chile Rest of South America Middle East & Africa Saudi Arabia UAE Qatar South Africa Rest of Middle East & Africa
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