Glufosinate ammonium Market size is forecast to reach US$592.6 million by 2026, after growing at a CAGR of 9.8% during 2021-2026. Glufosinate ammonium, often known as phosphinothricin, is a widely used and very effective herbicide. Several kinds of Streptomyces soil bacteria manufacture these organic herbicides. It inhibits the function of glutamine synthetase (GS), an enzyme required for glutamine synthesis and ammonia detoxification. Bialaphos, a naturally occurring herbicide, can also be converted directly to glufosinate by plants. Glufosinate ammonium is currently gaining a lot of attention due to its high efficiency, low toxicity, and ease of decomposition. Glufosinate is used in both agricultural and non-agricultural uses. The market’s rise has been spurred by factors such as its broad marijuana range and high efficacy. Furthermore, it is projected that the bolstering agriculture industry will also contribute towards glufosinate ammonium market growth during the forecast period.
COVID-19 Impact
Glufosinate ammonium, often known as phosphinothricin is widely used in the production of vegetables, fruits, wine, and crops, which necessitates intensive crop care such as seed preparation, soil management, crop protection, and more. However, due to the COVID – 19 outbreaks, production in these sectors will face challenges such as late crop care and pesticide product supplies, trade and delivery concerns, and more in the coming month. The negative impact on emerging market economies has been exacerbated by the combination of lengthy lockdowns in rich market economies and local societal estrangement. The prolonged shutdown has also had an impact on the agricultural business. The agriculture business has been impacted by the import/export of key fertilizers, which has had an impact on the worldwide glufosinate ammonium market.
Glufosinate Ammonium Market Segment Analysis – By Packaging
The drum segment held a significant share in the glufosinate ammonium market in 2020 and is estimated to grow at a CAGR of 8.3% during 2021-2026. Drums such as plastic drums, steel drums, and Fibre drums are an excellent way to store and transport glufosinate ammonium. Bottles and bags are less suitable for storing or transporting toxic or hazardous substances, and since glufosinate ammonium is hazardous, often steel and plastic drums are used for its packaging. Steel drums are an ideal choice for storing and transporting bulk quantities of glufosinate ammonium due to their versatile design. They can also be easily palletized and wrapped, making them an ideal choice for glufosinate ammonium bulk shipping applications. All of these perks of using plastic, steel, and fiber drums as packaging are gaining traction for glufosinate ammonium packaging.
Glufosinate Ammonium Market Segment Analysis – By Application
The weed control segment held a significant share in the glufosinate ammonium market in 2020. Weed control is critical in agriculture because weeds reduce yields, raise production costs, obstruct harvest, and degrade product quality. Weeds also obstruct irrigation water flow, make pesticide application difficult, and harbor disease organisms. Glufosinate-ammonium, often known as phosphinothricin assist farmers in weed control and reduce the risks associated with adverse weather affecting the windrowed crop. Also, according to a study conducted in India to assess the bioefficacy of glufosinate-ammonium [glufosinate] against weeds found in tea, up to 14 days after pesticide treatment, glufosinate-ammonium at 0.30 and 0.38 kg/ha provided equivalent weed control, but beyond 14 days, the latter dosage proved superior. After 14 days of spraying, glufosinate-ammonium at 0.38 kg outperformed paraquat dichloride in terms of weed control. Thus, owing to its good weed control result, it is often used for weed control applications.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16014
Report Price: $ 4500 (Single User License)
Glufosinate Ammonium Market Segment Analysis – By End-Use Industry
The food crops segment held the largest share in the glufosinate ammonium market in 2020 and is forecasted to grow at a CAGR of 13.2% during 2021-2026. Glufosinate-ammonium, often known as phosphinothricin is a broad-spectrum herbicide that is used to suppress weeds in a wide range of food crops around the world. Similar to glyphosate, glufosinate is commonly used in agriculture to suppress weeds such as morning glories, hemp sesbania (Sesbania bispinosa), Pennsylvania smartweed (Polygonum pensylvanicum), and yellow nutsedge. For maximum efficiency, it is given to young plants during their early stages of development. Glufosinate-ammonium has become an important herbicide in worldwide agriculture because it allows farmers to manage weeds in a variety of crops while maintaining a balance between environmental, economic, and social needs. The unique chemistry of glufosinate-ammonium allows for a significant rise in yields and provides major agricultural benefits, which is why it is valued in the food crops industry. These factors associated with glufosinate ammonium is driving its demand in the agriculture sector.
Glufosinate Ammonium Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the glufosinate ammonium market in 2020 up to 36%. The agriculture industry is flourishing in the region, which is accelerating the demand for glufosinate ammonium in the region. For instance, according to Invest India, the production of horticulture crops in India reached a record 326.6 million metric tonnes (MMT) in 2020-21 (an increase of 5.81 million metric tonnes over FY20. The Japanese government hopes to increase agricultural exports from 922.3 billion yen (US$8.5 billion) in 2020 to 2 trillion yen (US$18.5 billion) by 2025 and 5 trillion yen (US$46.1 billion) by 2030 by expanding the financial resources available to agricultural and food producers and exporters. According to the International Trade Administration (ITA), Thailand’s agriculture sector’s total local production increased from US$41,459 in 2018 to 43,379 in 2020. Thus, the growth in the Asia-Pacific agriculture sector is set to accelerate the demand for glufosinate ammonium in the region, thereby driving the market growth.
Glufosinate Ammonium Market Drivers
Increasing Agricultural Initiatives by the Government
Governments are investing extensively in agricultural projects and investments since it is one of the most effective ways to improve environmental sustainability. The US Department of Agriculture launched a program called “The Agriculture and Food Research Initiative (AFRI)” to maintain food safety and security while also training the next generation of agricultural workers. The Canadian government gave the Canadian Federation of Agriculture (CFA) a total of $560,000 in 2020 to establish the Canadian Agri-Food Sustainability Initiative. Programs such as the Common Agricultural Policy (CAP) and Young Farmers have been adopted by the European government. The Agriculture Export Policy, 2018 was adopted by the Indian government in December 2018. The new strategy aims to increase India’s agricultural exports to US$60 billion by 2022 and US$100 billion in the next several years, assuming a stable trade policy regimen. Thus, the agriculture sector is expanding in numerous places as a result of the government’s various agricultural programs. And with the increasing agricultural sector, the demand for glufosinate ammonium will also increase, which will certainly drive the market growth during the forecast period.
Increasing Crop Production Within the Same Area of Arable Land
Glufosinate ammonium plays an important role in providing crops with the nutrients they need to grow and enhance crop yield, owing to which it is often used during crop production. With the world’s population continually increasing, enough crops must be grown each year to feed everyone, which is why crop production is increasing over the world. For instance, according to the Food and Agriculture Organization (FAO), the production of primary crops was 9.2 billion tonss in 2018, around 50% more than 2000. Agricultural growth has increased dramatically in recent years, although the majority of this growth has been driven by increased yield per unit area rather than increasing farmed area. Looking ahead to 2030, it is advised that annual crop production and yield should be enhanced annually within the same area of arable land to meet the demand for grain and feed the expanding population on the existing arable land. To improve the crop yield within the same area of arable lands and provide crops proper nutrients the demand for glufosinate will significantly increase, which will certainly drive the market growth during the forecast period.
Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=16014
Glufosinate Ammonium Market Challenges
Acute Hazards Related to Glufosinate Ammonium
According to the US Environmental Protection Agency (EPA), glufosinate-ammonium (glufosinate) is an organophosphorus chemical that is predominantly a foliar-active herbicides with low systemic activity and has been associated with a variety of human health and environmental impacts. Surprisingly, the EPA detected a multi-generational hazard in mammals when the chemical is used according to the label instructions in 2013, but no new limits have been placed to account for this. Glufosinate can cause a range of effects from substantial, but temporary eye injury, skin irritation, respiratory failure, to death through dermal absorption or ingestion. Any contact with the drug can result in negative consequences. These effects may differ depending on glufosinate formulations and technical grade glufosinate. Thus, these acute hazards related to glufosinate ammonium are posing a significant challenge for the glufosinate ammonium market.
Glufosinate Ammonium Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the glufosinate ammonium market. Glufosinate ammonium market top companies include:
Bayer CropScience
Syngenta
Monsanto Company
BASFSE
Lier Chemical
Jiangsu Huangma
Dow AgroSciences
Hebei Veyong Biochemical Co., Ltd.
Zhejiang YongNong
Jiaruimi
Acquisitions/Technology/Product Launches
In September 2020, BASF has acquired the proprietary Glu-L™ technology for L-glufosinate ammonium from AgriMetis™, an industry leader for the development of biotechnological innovations for crop protection. With this BASF Agricultural Solutions will offer its customers an even more efficient product to protect against unwanted weeds with an improved formulation.
Key Takeaways
Asia-Pacific dominates the glufosinate ammonium market owing to the increasing crop production in the region. For instance, according to the Economic Survey of India 2020-21 report, the country’s total food grain production in FY20 was 296.65 million tonnes, up 11.44 million tonnes from FY19’s 285.21 million tonnes.
The necessity of farmers to protect crops from unwanted weeds, fungi, and bacteria and to get generate capital from the yield are the major factors driving the growth of the glufosinate ammonium market.
Furthermore, increasing government investments in the agriculture industry is expected to augment the product demand in near future.
However, the health concerns related to excess consumption of glufosinate ammonium and the stringent regulations imposed by health and food organizations of nations across the world are some of the inhibiting factors in the glufosinate ammonium market.
Relevant Report
Ammonium Sulfate Market
https://www.industryarc.com/Report/15396/ammonium-sulfate-market.html
For more Chemicals and Materials related reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/