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The demand for Glyphosate is booming since last two decade. With the increase in planting area of transgenic crops and increase in bio-fuel projects in a number of countries worldwide, the demand for glyphosate has constantly increased since last many years. It is the largest selling agrochemical product across the world.
Globally glyphosate is one of the most widely used herbicides in terms of volume. It has applications in horticulture, agriculture, viticulture, silviculture and garden maintenance. Moreover they are also use in many cities to clear the sidewalks, streets and railway tracks. The global demand for Glyphosate is expected to double in next five year as farmers switch to less labor intensive agricultural methods. In 2012 Asia Pacific dominated the glyphosate market, accounted for the largest share in terms of volume.
The growth in the market was led by Asia Pacific and is expected to be the fastest growing regional market in Asia Pacific growing at a double digit compounded annual growth rate (CAGR). China is the major producer of glyphosate in the world. Presently the market is facing intense competition with several generic players mainly Chinese manufacturers operating in the market.
The increase in pace of urbanization around the world has resulted into significant reduction of the rural labor force resulting into increase in demand for glyphosates. Continuous usage of glyphosate has resulted into the formation of some resistant variety of weeds. Resistance from such problematic weeds was one of the major concerns for the glyphosate industry, affects the survival of economic crop plants. Launch of genetically modified crops, glyphosate tolerant, and the introduction of innovative glyphosate formulations will continue to drive the demand for glyphosate in near future.
Since 2011, the price of glyphosate has been growing high. While the upward trend of price of glyphosate will depend upon the introduction and implementation of environmental protection regulation. High profit margins and significant revenue growth has attracted several new players to the market after the patent expiry of original product in 2000.
Some of the key participants in the market includes Nufarm Limited, Syngenta AG, E. I. du Pont de Nemours and Company, Dow AgroSciences LLC,Monsanto Company, Shandong Weifang Rainbow Chemical, Zhejiang Wynca Chemical Group Co. Ltd., Anhui Huaxing Chemical Industry Co. Ltd., Nantong Jiangshan Agrochemical & Chemical Co. Ltd.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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