Glufosinate Market: North America Projected to Register High Growth Rate

The global glufosinate market is projected to grow at a CAGR of 9.25% to reach USD 2.34 Billion by 2022 in terms of value.

On the basis of crop type, the global market is segmented into genetically modified crops and conventional crops. The genetically modified crops dominated the market owing to its major use in the production of various products and wider availability. Genetic modified techniques are widely used to make crops herbicide-resistant.

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The global glufosinate market, on the basis of application, is segmented into agricultural and non-agricultural applications. The demand for glufosinate is expected to increase in the next few years due to the growing yield of agricultural crops such as corn, soybean, beans, canola, sugar beets, sugar cane, and sweet potato that are genetically modified to tolerate glufosinate. The grains & cereals segment accounted for the largest market share in 2015.

The forms of glufosinate considered for the study are liquid and dry. Liquid formulation of glufosinate is widely used as it has low temperature stability as compared to dry formulations, which has a long process of usage.

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The North American region dominated the market and accounted for the largest share, in terms of both value and volume, in the global glufosinate market, in 2015. The North American market is projected to grow at a CAGR of 9.60% from 2016 to 2022. Factors such as increasing acreage under glufosinate-tolerance crops, and resistance development to glyphosate herbicide products in countries of the North American region are driving the growth of the glufosinate market.


Market Ecosystem

The various contributors involved in the value chain of the glufosinate market include pesticide manufacturers, importers & exporters, traders, distributors, suppliers, and consumers which include farmers. The value chain comprises key manufacturers in the glufosinate market, such as Bayer AG (Germany), The Dow Chemical Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Syngenta AG (Switzerland), and UPL (India), which have diversified product portfolios, proprietary technologies, and strong distribution networks and offices at strategic locations across the globe.

These companies focus on innovation and enhancing the functional and physiological properties of glufosinate products and cater to the growing demand in the glufosinate industry. Other players in this market are Nufarm Ltd (Australia), Jiangsu Huangma Agrochemicals Co, Ltd. (China), Jiangsu Sevencontinent Green Chemical Co., Ltd. (China), Hebei Veyong Bio-Chemical Co., Ltd. (China), and Zhejiang Yongnong Chem. Ind. Co. Ltd. (China), which also have a strong presence in the market. Glufosinate production has increased in recent years in China for catering to the growing demand across globe.


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