Penoxsulam Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Penoxsulam is an essential part of sulfonamide-based herbicides. The global penoxsulam market has taken up a significant role in the global herbicide market in recent years due to its rising demand in rice plantations. Penoxsulam is a systemic pesticide and is highly effective against various weeds, including grass weeds and broadleaf weeds. This makes penoxsulam-based pesticides perfect for use in residential plantations as well as commercial sports complexes and farms.
The prime driver for the global penoxsulam market is the rising demand for rice across the world. Being a staple food almost across the world, the global rice market has benefited from the steady rise in urban population in recent years and is thus likely to remain a key driver for the global penoxsulam market in the coming years. The increasing demand for well-maintained lawns in residential and commercial buildings is also likely to remain a major driver for the global penoxsulam market in the coming years. The rising number of sports stadiums and the increasing expenditure on their maintenance is also likely to benefit the global penoxsulam market.
Asia Pacific is likely to be a major mover in the global penoxsulam market in the coming years. Countries in Southeast Asia, such as India, Bangladesh, Indonesia, China, Thailand, and Vietnam are leading producers of rice, leading to a steady rise in the demand for penoxsulam. China and India collectively account for around 50% of the demand for penoxsulam in Asia Pacific and are likely to remain important regional markets for penoxsulam due to the steady growth of their agriculture sector.
Penoxsulam is one of the active ingredients present in a sulfonamide-based herbicide produced by Dow AgroSciences, a subsidiary of The Dow Chemical Company. The herbicide containing penoxsulam is sold under a variety of brand names, including SC Granite and Granite and is used on rice crops in the United States. In addition, penoxsulam is sold under a variety of brand names in other countries, such as Viper in Europe, Ricer in Brazil and Argentina, Fencer in China, Rainbow in Egypt and Clipper in Vietnam and Indonesia. Penoxsulam is an off-white solid having a musty odor. It is soluble in water and acetonitrile. The herbicide was initially introduced for rice fields and is capable of destroying a wide range of pest weeds and grasses that are found in wet environments.
Penoxsulam is primarily a systematic herbicide that disrupts the growth of weeds internally, thus killing them in the process. It is employed to control the growth of broadleaf, grass weeds, and sedge in transplanted water seeded and dry seeded rice. Moreover, penoxsulam is also effective against a wide range of broadleaf weeds in turfs including sports fields, golf courses, sod farms, and residential and commercial lawns. It is also a registered herbicide employed for aquatic weed control in the U.S. It is distributed by the company SePRO under the brand name Galleon.
The key driver of the global penoxsulam market currently, is its use as an herbicide. It is employed by farmers globally to prevent the growth of weeds among a wide range of crops including rice, wheat, and corn. In addition, the demand for penoxsulam is expected to increase over the coming years due to the growing number of turfs and lawns globally. The growing number of residential and commercial lawns is expected to boost the global penoxsulam market over the next few years. Moreover, the growing number of sports grounds and golf courses – especially in the U.S. – is expected to drive the global penoxsulam market during the forecast period.
The key regions included under the global penoxsulam market are North America, Europe, Asia Pacific and the rest of the world. The demand for penoxsulam has been exceptionally high in North America, owing to the growth of its farming activities. The region is facing a high pressure to increase yield while facing a reducing overall area to farm in.
Asia Pacific follows North America in terms of the overall demand volume for penoxsulam. The swiftly growing agricultural sector in Asia Pacific – especially in emerging countries such as India – is likely to boost the global players in the penoxsulam market over the given forecast period. In addition, the growth in the construction activity and the increasing number of turfs in India, China, and Indonesia is anticipated to drive the demand for penoxsulam in the coming years.
The key companies of the global penoxsulam market that have dominated in various segments and regions so far, include The Dow Chemical Company, Bayer CropScience AG, BASF SE, Syngenta International AG, Nufarm Ltd., Monsanto Co., Chemtura Corp, and Nufarm Ltd.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report