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Glufosinate Market: North America Projected To Register High Growth Rate

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By Author: Sonal
Total Articles: 40
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The global glufosinate market is projected to grow at a CAGR of 9.25% to reach USD 2.34 Billion by 2022 in terms of value.

On the basis of crop type, the global market is segmented into genetically modified crops and conventional crops. The genetically modified crops dominated the market owing to its major use in the production of various products and wider availability. Genetic modified techniques are widely used to make crops herbicide-resistant.

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The global glufosinate market, on the basis of application, is segmented into agricultural and non-agricultural applications.
The demand for glufosinate is expected to increase in the next few years due to the growing yield of agricultural crops such as corn, soybean, beans, canola, sugar beets, sugar cane, and sweet potato that are genetically modified to tolerate glufosinate. The grains & cereals segment accounted for the largest market share in 2015.

The forms of glufosinate considered for the study are liquid and dry. Liquid formulation of glufosinate is widely used as it has low temperature stability as compared to dry formulations, which has a long process of usage.

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The North American region dominated the market and accounted for the largest share, in terms of both value and volume, in the global glufosinate market, in 2015. The North American market is projected to grow at a CAGR of 9.60% from 2016 to 2022. Factors such as increasing acreage under glufosinate-tolerance crops, and resistance development to glyphosate herbicide products in countries of the North American region are driving the growth of the glufosinate market.

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