IMARC Group, a leading market research company, has recently releases report titled “Glufosinate Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028″, The study provides a detailed analysis of the industry, including the global glufosinate market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the glufosinate market?
The global glufosinate market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
What is Glufosinate?
Glufosinate is a broad-spectrum herbicide used to control weeds in various agricultural and non-agricultural settings. It’s a synthetic compound that acts as a glutamine synthetase inhibitor, which blocks the assimilation of ammonia in plants, leading to a buildup of toxic levels of ammonia that eventually cause the plant to die. It’s effective against a wide range of annual and perennial broadleaf weeds and grasses. Glufosinate is often used as an alternative to glyphosate, another widely used herbicide, especially in areas where weed resistance to glyphosate has developed. It is also utilized in “burn-down” farming techniques for clearing fields before planting. With its non-selective weed control properties, farmers must apply it carefully to avoid damage to crops and surrounding vegetation.
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Global Glufosinate Market Trends:
The widespread occurrence of weeds resistant to glyphosate and other herbicides is pushing farmers towards alternatives like glufosinate which represents one of the key factors driving the growth of the market across the globe. The development of glufosinate-resistant genetically modified (GM) crops enables farmers to use glufosinate without damaging their crops, which is increasing the product’s appeal. The demand for higher agricultural yield to feed a growing global population encourages farmers to adopt effective weed management solutions like glufosinate. Glufosinate is being integrated into weed management programs to delay or prevent the development of herbicide-resistant weed populations. Regulatory restrictions and market withdrawal of competing herbicides like glyphosate in some regions due to health and environmental concerns are making room for glufosinate. Innovations in farming practices and application technologies improve the efficiency of glufosinate usage, thus making it more cost-effective and driving adoption. Investments by major agrochemical companies in expanding glufosinate production capacity is creating a positive outlook for the market.
Glufosinate Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the glufosinate market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- BASF SE
- DuPont de Nemours Inc.
- Hebei Veyong Bio-Chemical Co. Ltd (Limin Group Co. Ltd.)
- Jiangsu Sevencontinent Green Chemical Company Limited
- LIER Chemical Co. Ltd.
- Nufarm, SinoHarvest
- UPL Limited
- YongNong BioSciences CO. LTD
Key Market Segmentation:
The report has segmented the global glufosinate market on the basis of crop type, formulation type, application and region.
Breakup by Crop Type:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Others
Breakup by Formulation Type:
- Aqueous Suspension
- Liquid
- Suspension Concentrate
- Soluble (Liquid) Concentrate
- Others
Breakup by Application:
- Herbicides
- Fungicides
- Desiccant
- Defoliant
- Others
Breakup by Region:
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
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