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.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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