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Latin America glufosinate market is projected to grow at a CAGR of 9.93%

Latin America glufosinate market is projected to grow at a CAGR of 9.93%

The Latin America Glufosinate Market is estimated at USD 0.17 billion in 2016 and is projected to grow at a CAGR of 9.93%, reaching USD 0.27 billion by 2021.

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The market is predicted to showcase enormous potential in the forecast period owing to the factors like glufosinate’s high efficacy as well as broad weed spectrum. Glufosinate has varied applications in both non-agricultural and agricultural sectors.

Glufosinate is a type of herbicide which has high effectiveness and is generally used for controlling weed in different types of crops all over Latin America. Farmers depend on Glufosinate because of its assistance in providing high degree of crop safety and its vast effect area avoiding the requirement for different herbicides for different forms of weeds on a given crop.

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The increase in the demand for Glufosinate as a substitute to glyphosate and paraquat has led to the market for Glufosinate to show rising potential in the recent years. Other important factors driving the market include, herbicide contribution in securing food bowl, steady expansion of herbicide tolerant crops usage, GM crop acceptance and approval trend.

The market also faces some restraints and challenges which have held it back from showing even higher growth. Some of the major ones are, stringent government regulations, toxic effects of Glufosinate.

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The Latin America market for Glufosinate is segmented based on Crop Type, Application and Form. By the type of crop, the market in segmented as genetically modified crops and conventional crops with genetically modified crops leading the Glufosinate market.

Based on the form, the market is segmented into dry and liquid form. Based on application, the market is segmented into agricultural and non-agricultural.

The agricultural segmented is further sub-segmented into grains & cereals, fruits & vegetables, oilseeds & pulses and others.

Based on geography, the Latin America market is analysed under various regions of Brazil, Argentina, Mexico, and rest of Latin America.

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Some of the major companies dominating the Glufosinate market include The Dow Chemical Company, Bayer AG, E. I. du Pont de Nemours and Company, UPL, Syngenta AG, Jiangsu Huangma Agrochemicals Co Ltd., Nufarm Ltd, Jiangsu Seven continent Green Chemical Co Ltd., Zhejiang Yongnong Chem.

Ind. Co. Ltd. , Hebei Veyong Bio-Chemical Co Ltd.

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