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Glufosinate Market Size
Glufosinate Market is anticipated to attain substantial traction from 2024 to 2032 due to the rapidly growing agrochemical sector and the surging need to protect crops from diseases. Rising agri-tech innovations have led to the emergence of genetically modified crops. In addition, the increase in farmlands will drive market expansion.
The safety profile of glufosinate as a herbicide, its efficacy in controlling crucial weeds, and its application during the early growth stages of plants to enhance outcomes will propel the product demand. Moreover, excessive demand for horticulture will continue shaping the industry outlook.
Glufosinate Market Trends
One prominent trend is the increasing adoption of sustainable and environmentally friendly herbicides, with glufosinate being recognized for its effectiveness in weed control while posing minimal harm to ecosystems. The advancements in formulation technologies and the development of novel application methods are enhancing the efficacy and versatility of glufosinate products, further driving market growth.
The inflation has adversely impacted the prices of fertilizers, and all other agricultural services. In addition, the conflict between Russia and Ukraine has aggravated the situation, which is anticipated to hinder market expansion over the coming years. The ongoing efforts by leading players and governments to stabilize the situation would offer lucrative prospects for the new entrants in the coming years.
Glufosinate Market Analysis
The liquid glufosinate segment is projected to observe notable gains by 2032 owing to the increasing need for low-temperature stability in various industrial and non-industrial verticals. There is an ease of application of liquid glufosinate, coupled with its growing adoption in agricultural regions for weed management while exhibiting minimal direct impact on animals The growing popularity of agrochemicals and the higher need for product safety will bolster the demand.
The agriculture segment is anticipated to grow exponentially during 2024 and 2032. The escalating global population coupled with shrinking arable land necessitates higher agricultural productivity, driving the adoption of glufosinate-based herbicides to combat weeds effectively and optimize crop yields. Moreover, as farmers seek sustainable and environmentally friendly farming practices, the non-selective nature of glufosinate, combined with its biodegradability, positions it as a preferred herbicidal solution, driving its demand across diverse agricultural landscapes globally.
North America glufosinate market will gain notable revenues by 2032 due to the alleviating popularity of bio-based agro solutions and the higher yield of glufosinate-tolerant crops. This has led to an increase in the number of research activities and programs in the region. Furthermore, the presence of various production facilities and chemical manufacturers in the region would support the industry growth.
Glufosinate Market Share
The glufosinate industry players include:
- United Phosphorus
- Zhejiang Yongnong Chemical
- Jiangsu Sevencontinent Green Chemical
- Veyong
- DOW Chemical (Dow Inc.)
- Du Pont, Syngenta (ChemChina)
- Jiangsu Huangma Agrochemicals
- Nufarm
These major manufacturers are upping their game to secure a prominent share in the marketplace via strategic efforts such as acquisitions, partnerships.
Glufosinate Industry News
- In August 2023, BASF Agricultural Solutions announced that it will introduce Liberty ULTRA herbicide, Powered by Glu-LTM Technology, marking the debut of the first trait-enabled, resolved isomeric postemergence herbicide in the U.S. market.