The global pyroxasulfone market is estimated to be valued at US$ 276.5 million in 2022 and is expected to exhibit a CAGR of 10.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Pyroxasulfone is a pre-emergent herbicide used to control weed growth in various crops. It acts by inhibiting the growth of weed seeds and provides long-lasting control. This herbicide offers several advantages including broad-spectrum weed control, low application rates, and environmental safety. The increasing need for effective weed control solutions in agriculture, coupled with the growing adoption of herbicides for crop protection, is driving the market growth.
Market Key Trends: One key trend in the pyroxasulfone market is the rising demand for organic farming practices. Consumers are increasingly concerned about the negative impact of chemical pesticides and herbicides on human health and the environment. This has led to a growing preference for organic food products, where the use of synthetic herbicides is restricted. As a result, farmers are shifting towards using pyroxasulfone and other organic-approved herbicides for weed control, thereby driving the market growth.
Segment Analysis:
The pyroxasulfone market can be segmented based on application and region. In terms of application, the dominant segment is the herbicides segment. Pyroxasulfone herbicides are extensively used for weed control in a variety of crops such as corn, soybean, wheat, and cotton. The increasing global demand for these crops is driving the growth of the herbicides segment. Additionally, pyroxasulfone herbicides offer several advantages such as effective control of broadleaf and grassy weeds, long residual activity, and compatibility with other herbicides. These factors contribute to the dominance of the herbicides segment in the pyroxasulfone market.
Key Takeaways:
1. Market Size: The global pyroxasulfone market is expected to witness high growth, exhibiting a CAGR of 10.6% over the forecast period of 2023-2030. The market size for 2023 is projected to be US$ 276.5 million. This growth can be attributed to the increasing demand for pyroxasulfone herbicides for weed control in major crops.
2. Regional Analysis: North America is the fastest growing and dominating region in the pyroxasulfone market. The region has a significant presence of key players and a well-established agriculture industry. The increasing adoption of advanced agricultural practices and the rising demand for high-quality crops contribute to the growth of the pyroxasulfone market in North America.
3. Key Players: The key players operating in the pyroxasulfone market are BASF, Syngenta, Bayer CropScience (formerly Monsanto), DowDuPont (now Corteva), FMC Corporation, ADAMA, and Agricultural Solutions. These players dominate the market due to their strong distribution networks, wide product portfolios, and continuous research and development efforts to introduce innovative pyroxasulfone formulations.
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