Global Herbicides Industry was valued at USD 24.09 Billion in the year 2017. Global Herbicides Industry is further estimated to grow at a CAGR of 5.64% from 2019 to reach USD 37.34 Billion by the year 2025. North America region holds the highest Industry share in 2017 and South America region is considered as the fastest growing Industry in the forecast period due to growing demand and rising population. At a country level, the U.S. in North America and Brazil in South America holds the notable Industry share and is projected to grow strongly in the coming years due to the strongly growing agriculture sector and using herbicide as dominant pesticides.
Major market players in Herbicides Industry are The DOW Chemical Company, Syngenta AG, Monsanto Company, Bayer CropScience AG, FMC Corporation, E.I. du Pont de Nemours and Company, Nissan Chemical Industries Ltd., BASF SE, Nufarm Ltd, Sumitomo Chemical, Bioworks Inc., Drexel Chemical Co., and 10 companies detailed information is provided in report. Rising research and development expenses to satisfy the changing demands of end users, new product launches and organic growth strategies were few techniques adopted by various manufacturers in last 5 years. In 2017, BASF collaborated with Monsanto to launch advanced dicamba-tolerant herbicide system with improved dicamba formulations providing farmers the tools they need to combat the yield-robbing weed resistance.
SWOT Analysis of Herbicides Industry:
Increasing labor costs and labor shortage
Increasing use of herbicide as weed/undesirable plants control agent
Growing cultivation of genetically modifies (GM) crops
Rising sale of non-genuine products
Stringent environment regulations across the world
High opportunities in Asia-pacific region
Growing preference for herbicides
Low focus on R&D due to high costs
The outbreak of herbicide-resistant weeds
The segmentation is done on is the basis of Type, by application, by crop type, and by region. On the basis of types, the global Herbicides Industry is sub-segmented Diquat, Glyphosate, 2,4-D and others of which the glyphosate segment is expected to hold the highest Industry share during the forecast period due to vide application and high adoption rate of genetically modified (GM) seeds and crops.
Herbicides Industry Segmentation:
• 2, 4-D
By Crop type
• Cereals & Grains
• Fruits & Vegetables
• Oilseeds & Pulses
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa