Global Aquatic Herbicides Market Forecast to 2022
Bharat Book Bureau Provides the Trending Market Research Report on "Global Aquatic Herbicides Market, Forecast to 2022" under Industry & Mfg category. The report provides information on industry overview, market size, latest developments, industry trends, Leading Players, global presence, and their future prospects.
Aquatic Herbicides Market is projected to grow at a CAGR of 6.8%
The aquatic herbicides market was valued at USD 501.2 million by 2017. It is projected to reach USD 696.4 million by 2022, growing at a CAGR of 6.8% from 2017, in terms of value. The market has been largely driven by the growing adoption of integrated weed control. It is used when long-lasting weed control is required at inexpensive costs and with less undesired side effects. The advantages of using aquatic herbicides over other treatment methods such as manual and mechanical methods are also driving the market for aquatic herbicides. Aquatic weeds restrict water movement and increase the sedimentation rate in aquatic systems such as agricultural waters, fisheries, and recreational waters. Furthermore, these weeds degrade water quality, reduce biodiversity, and lead to economic losses for the agricultural, fishery, and recreation sectors. Owing to these factors, aquatic herbicides are gaining importance to control aquatic weeds. However, concerns among applicators about fish kills, damage to desirable plants, and effect of herbicide application restrain the aquatic herbicides market growth.
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The glyphosate segment is projected to dominate the aquatic herbicides market through 2022
In 2017, the glyphosate segment accounted for the largest share, by type, in the aquatic herbicides market, in terms of value and volume. Glyphosate is an important aquatic herbicide as the formulation of glyphosate is less expensive than the mechanical or manual removal of aquatic weeds; it also provides long-term control of weeds as compared to other biological and mechanical methods.
North America to dominate the aquatic herbicides market throughout the studied period
The North American region dominated the market for aquatic herbicides, owing to the rising adoption of integrated weed management in the region. Further, due to the increase in environmental concerns and emergence of residual issues, new herbicides with improved functionality and lower residue levels are developed with different modes of action, which drives the market for aquatic herbicides in this region.
Break-up of Primaries:
- By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation: C - Level Executives– 33%, Directors –42%, and Others* – 25%
- By Region: North America – 35%, Europe – 25%, Asia Pacific – 23%, South America - 10%, and RoW** - 7%
*Others include sales managers, marketing managers, and product managers.
**RoW includes Africa and the Middle East.
The leading players in the aquatic herbicides market are Dow Chemical (US), BASF (Germany), Monsanto (US), Syngenta (Switzerland), and Nufarm (Australia). Other significant players include Lonza (Switzerland), Land O'Lakes (US), UPL (India), Platform Specialty Products (US), SePRO Corporation (US), Albaugh (US), Valent (US), and SANCO INDUSTRIES (US).
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