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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.

HYDERABAD, TELANGANA, INDIA, November 7, 2022 /EINPresswire.com/ -- 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.

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Key takeaways:

This IndustryARC report on the Glufosinate ammonium market highlights the following areas -

1. 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.

2. 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.

3. Furthermore, increasing government investments in the agriculture industry is expected to augment the product demand in near future.

4. 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.

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Segmental Analysis:

1. 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.

2. 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.

3. 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.

Competitive landscape:

The top 5 players in the Glufosinate Ammonium industry are:

1. Bayer CropScience
2. Syngenta
3. Monsanto Company
4. BASF SE
5. Lier Chemical

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https://www.industryarc.com/Report/15396/ammonium-sulfate-market.html

B. Ammonium Nitrate Market
https://www.industryarc.com/Research/Ammonium-Nitrate-Market-Research-509340

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