Global Penoxsulam Market was worth USD 294.53 million in 2016 and estimated to be growing at a CAGR of 5.10%, to reach USD 377.70 million by 2021.
Penoxsulam is a chemical compound having the chemical formula C16H14F5N5O5S with molecular mass of 483.37 g/mol. It is used in agricultural field as rice herbicide.
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It can be used in both terrestrial and aqueous environments and it has an excellent ability of protecting the crops against weed without harming any fauna. These are the factors which encourage farmers to use this herbicide.
Penoxsulam is highly effective against various types of weeds.
High efficiency of Penoxsulam compared to other kinds of pesticides, rising demand of rice and other crops around the world and increasing demand of well-maintained lawns in commercial and residential buildings are some of the factors driving this market. Besides these, increasing number of golf courts and sports grounds is also driving this market, substantially.
The Global Penoxsulam market is segmented on the basis of crop type. It is segmented into Rice, Aquatics and other type of crops.
As the global demand for food is increasing because of increasing population. Being a staple food, demand of rice has increased the most, which has led to the increased demand of Penoxsulam pesticide.
As a result, rice fields have emerged as the leading segment for demand of Penoxsulam herbicide accounting for almost 85% of the global market.
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. In 2016, Asia-Pacific had the biggest Penoxsulam market accounting for almost 55% of global market share.
India and China alone in Asia-Pacific account for more than 50% of the share of Asia-Pacific market. Asia-Pacific also has the fastest growing rate in this market because of the fact that livelihood of a major population of the two biggest democracies in this region, viz.
India and China depend on farming.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the global Penoxsulam market are Dow Chemical Co., Bayer CropScience AG, Syngenta International AG, Chemtura Corp., Monsanto Co., Nufarm Ltd., Shijiazhuang Xingbai Bioengineering Co.
and BASF SE.
Scope of the Report
- Regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC)in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysisfor analysing the level of competition and business strategy development
- A comprehensive list of key market playersalong with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunitiesto provide both individuals and organizations a strong financial foothold in the market
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