Glyphosate is a broad-spectrum systemic herbicide used to kill weeds particularly fast growing grasses and broadleaf weeds which are grown with commercial crops across the world. By volume, glyphosate is one of the most widely used herbicides worldwide. It is commonly used in horticulture, viticulture, agriculture, silviculture and in garden maintenance. Glyphosate is also used to curb unwanted aquatic vegetation and to clear railroad tracks.
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One of the major factor influencing the demand for glyphosate is the lack of a viable substitute to glyphosate herbicides. Another reason is the growing adoption or planting of genetically modified crops and increased use of no-till and minimum-till systems in agriculture. This is an outcome of the continuosly growing world population and the rising demands for food consumption. In addition, the sources of non-renewable energy are on the verge of complete depletion, therefore there is an expected increase in bio-fuel projects worldwide which will drive the global glyphosate market.
Growing weed resistance to glyphosate serves as a constraint with its increasing use in agriculture industry. While glyphosate has been approved by regulatory bodies worldwide and is widely used, concerns about its effects on humans and the environment persist. China has the largest installed capacity for glyphosate manufacturing and also dominates the global glyphosate market in terms of consumption. Asia Pacific dominates the demand for glyphosate followed by North America and Europe.
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Some of the key players in manufacturing of glyphosate include E. I. du Pont de Nemours and Company, Monsanto Company, Shandong Weifang Rainbow Chemical, Syngenta AG, Anhui Huaxing Chemical Industry Co. Ltd and Zhejiang Wynca Chemical Group Ltd. among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
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