Global Herbicides Market: Overview

The global competitive landscape is increasingly consolidated as a whopping share of the global herbicides market is concentrated in the hands of a small number of players, notes Transparency Market Research (TMR). An upward of 75.0% share is owned by just seven companies, which include Syngenta International AG, DowDuPont Inc., Agrium Inc., Israel Chemicals Limited, Monsanto Company, and Bayer AG. Some other prominent players operating in the market are PL Industries, FMC Corporation, Nfarm Ltd., and Israel Chemicals.

TMR finds that a large number of players are capitalizing on the synergies of mergers and alliances to consolidate their shares and bolster their product portfolio.

The global herbicides market is anticipated to rise at a CAGR of 6.1% during 2017–2025 and touch a valuation of US$29.30 billion by 2025 end. The global valuation of the market in 2016 was pegged at US$17.37 billion.                   

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The various product types of herbicides comprise acetochlor, 2,4-D, glyphosate, and atrazine. Among the other segments, glyphosate led, vis-à-vis value as well as volume, in 2016. This is attributed to the vast demand for glyphosate-based herbicides as a type of non-selective herbicide useful in controlling a variety of weeds.

The various regional markets for herbicides are North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific. Of these, Europe led the global market in 2016 and is anticipated to retain its lead throughout the assessment timeline. However, Asia Pacific is forecast to rise at the most attractive CAGR over 2017–2025. Providing ample opportunities to local as well as global players, the region is expected to generate a revenue worth of US$4.0 billion by 2025 end.

Regulatory Curbs on some Herbicides in Several Regions hamper Growth  

However, the growth of the herbicides market is beset with several factors. The use of inorganic herbicides is plagued with the considerable risk they may have on environment. For instance, the adverse impact some herbicides have on the aquatic life and their undue exposure to workers may cause health problems. This has led to numerous regional regulations curbing the use of certain herbicides. The largely ban of glyphosate in parts of Europe is a case in point.

Nevertheless, the advent of bio-based products has opened substantial lucrative avenues in the herbicides market. Furthermore, the relentless research on understanding the biochemical action of herbicides on plants has led to chemicals with better toxicity profile.

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