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We expect the global glufosinate market to exhibit a CAGR of around 8% during 2021-2026.
The escalating demand for genetically modified crops, the growing use of glufosinate-ammonium on non-crop areas, and the rising adoption of sustainable farming practices, represent some of the factors catalyzing the global glufosinate market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary slowdown of numerous operation units and delay in R&D activities pertaining to glufosinate.
Based on the crop type, the global glufosinate market can be segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, and others. Currently, oilseeds and pulses hold the majority of the total market share.
Based on the formulation type, the global glufosinate market has been divided into aqueous suspension, liquid, suspension concentrate, soluble (liquid) concentrate, and others, where soluble (liquid) concentrate currently exhibits a clear dominance in the market.
Based on the application, the global glufosinate market can be categorized into herbicides, fungicides, desiccant, defoliant, and others. Among these, herbicides currently account for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global glufosinate market include BASF SE, DuPont de Nemours Inc., Hebei Veyong Bio-Chemical Co. Ltd (Limin Group Co. Ltd.), Jiangsu Sevencontinent Green Chemical Company Limited, LIER Chemical Co. Ltd., Nufarm, SinoHarvest, UPL Limited, and YongNong BioSciences CO. LTD.
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