The Europe Penoxsulam Market was worth USD 32.40 million in 2016 and estimated to be growing at a CAGR of 4.60%, to reach USD 40.57 million by 2021.
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It is a chemical compound having molecular mass of 483.37 g/mol and the chemical formula C16H14F5N5O5S. It is used in agricultural fields and in aquacultures.
Penoxsulam can be used in both terrestrial and aqueous environments depending upon the where it is to be used and it has an excellent ability of protecting the crops against weed without harming any fauna. These factors make the modern farmers to opt for Penoxsulam.
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Penoxsulam is highly effective against various types of weeds, be it the grass or broad-leafed plants.
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High efficiency of Penoxsulam compared to other kinds of pesticides, rising demand of rice and other crops around the world, most of the patent firms based on this region 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.
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The Europe Penoxsulam market is segmented on the basis of crop type. It is segmented into Rice, Aquatics and other type of crops.
Rice fields have emerged as the leading segment for demand of Penoxsulam herbicide.
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The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. Germany is leading the way in this region mainly because of huge demand of food because of increasing population.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the Europe 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.
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