Demand Surge from Salt is set to Provide Thrust the Global Pre-emergent Herbicide Market
Pre-emergent Herbicide Market: An overview
Pre-emergent herbicides are extensively used in agricultural lands, lawns, and other areas where the susceptibility for weed growth is high. Pre-emergent herbicides are used to curb unwanted weed growth which is set to destroy the land fertility in the future.
Pre-emergent herbicides are chosen and utilized strategically by the grass keeper, nurseryman, or farmer to successfully curb the weed growth on a long-term and short-term basis depending on the choice of pre-emergent herbicide. Pre-emergent herbicides are mostly utilized in developed regions such as Europe and North America. The market has gained traction in these regions over the historical period.
While growing regions and inclination towards pre-emergent herbicide in East Asia and South Asia & Oceania provides enough potential for the market to provide thrust in the mid-term forecast period. Multipurpose type of herbicide such as dicamba herbicide has gained market heat owing to the dual activity i.e., pre and post-emergence activity of the herbicide. The global pre-emergent herbicide market is forecast to witness absolute growth at a higher digit CAGR between 2020 and 2030.
Demand Surge from Salt Pre-emergent Herbicide is set to Provide Thrust the Market
Of the two major formulation types, acid and salt Pre-emergent herbicide market, salt pre-emergent herbicide market captures the majority of the market owing to its extensive application in crops such as pulses, oilseeds, cereals & grains, and pastures & forage crops, and other crops which has immensely thrived the market in the historical period is set to remain in the same pace over the forecast period.
COVID-19 to Squeeze the Pre-emergent Herbicide Market
COVID-19 or Novel corona virus has not only shattered the movement of the people but also the production and trade of the major products in the market. But in the perspective of the pre-emergent herbicide market growth. The demand of pre-emergent herbicides has immensely declined by 2 fold in the first 2 quarters of FY2020. Decline in consumption has cascaded the effect towards pre-emergent herbicides.
Pandemic has negatively impacted the prices of the pre-emergent herbicides. Prices declined by more than 3 fold in the 2nd quarter of FY2020. The trend is set to remain till the end of the financial year and is set to recover as the pandemic cases decline.
Pre-emergent Herbicide Market: Regional Outlook
From regional perspective, Europe holds largest market share in global pre-emergent herbicide market. Rise in demand of pre-emergent herbicides has seen an uptake in the historical period. This has provided an immense opportunity for the pre-emergent herbicide market to grow in Europe region. But in the FY2020, Europe has seen a minor decline and the market is set to rise at a faster pace in mid-3rd quarter of FY2020.
Followed by Europe, North America accounts for less than quarter of the global pre-emergent herbicide market. Market is growing at a steady pace in this region owing to the rise in agricultural activities and safeguarding farms & courtyards which provides enough push for the demand requisite in the region.
East Asia and South Asia & Oceania are growing at a moderate pace as the region is still inclined towards conventional methods for curbing weed growth. Latin America and Middle East & Africa account for nominal demand share.
Pre-emergent Herbicide Market: Key Players
Global pre-emergent herbicide market is slightly fragmented in nature with presence of numerous international players. Key players in market are focused towards expansions through partnerships and acquisitions. These players aim to provide a scattering range of pre-emergent herbicide suited for different commercial and industrial purposes.
Key players in global pre-emergent herbicide market are BASF, E.I. DuPont de Nemours and Company, The Dow Chemical Company, Syngenta, Albaugh, Inc, Helena Chemical Company, Monsanto Company and Bayer CropScience.
Segmentation analysis of Pre-emergent Herbicide Market:
The global Pre-emergent herbicide market is bifurcated into four major segments: crop type, formulation, form and region.
On the basis of crop, Pre-emergent Herbicide market has been segmented as follows:
- Cereals & grains
- Forage Crops
On the basis of formulation, Pre-emergent Herbicide market has been segmented as follows:
On the basis of form, Pre-emergent Herbicide market has been segmented as follows:
On the basis of geographic regions, Pre-emergent Herbicide market is segmented as
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
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