Global Glufosinate market to reach $3.12 billion by 2023

Date:11-08-2017

According to Stratistics MRC, the Glufosinate market is expected to grow from $1.48 billion in 2016 to reach $3.12 billion by 2023 with a CAGR of 11.2%. Glufosinate had its wide variety of applications across agricultural and non-agricultural sectors. Varied factors such as high efficacy and broad weed spectrum is fueling the marke, moreover rising concern of agrochemicals usage in the agriculture is favoring the market. In contradiction to that the toxicity of glufosinate is hampering the market with negative influence.

Cereals & grains segment commanded the largest market share owing to high consumption of cereal & grains and wide commercialization GM(Genetically Modified) gulfosinate tolerant crop across the globe. North America is anticipated to be leading market in gulfosinate market owing to the increasing acreage under glufosinate-tolerance crops, and resistance development to glyphosate herbicide products.

Some of the key players in the Glufosinate market include Bayer AG, E.I. Du Pont De Nemours and Company, Hebei Bestar Bio-Technology Co., Ltd., Inner Mongolia Jiaruimi Fine Chemical Co., Ltd., Jiangsu Huangma Agrochemicals Co.,Ltd., Jiangsu Sevencontinent Green Chemical Co., Ltd., Lier Chemical Company Ltd., Nufarm Limited, Syngenta AG, The DOW Chemical Company, UPL Ltd., Veyong (Hebei Veyong Bio-Chemical Co. Ltd) and Zhejiang Yongnong Chem. Ind. Co., Ltd.