Aquatic herbicides market is projected to grow at a CAGR of 6.8%
The aquatic herbicides market was valued at USD 501.2 million by 2017. It is projected to reach USD 696.4 million by 2022, growing at a CAGR of 6.8% from 2017, in terms of value. The market has been largely driven by the growing adoption of integrated weed control. It is used when long-lasting weed control is required at inexpensive costs and with less undesired side effects. The advantages of using aquatic herbicides over other treatment methods such as manual and mechanical methods are also driving the market for aquatic herbicides. Aquatic weeds restrict water movement and increase the sedimentation rate in aquatic systems such as agricultural waters, fisheries, and recreational waters. Furthermore, these weeds degrade water quality, reduce biodiversity, and lead to economic losses for the agricultural, fishery, and recreation sectors. Owing to these factors, aquatic herbicides are gaining importance to control aquatic weeds. However, concerns among applicators about fish kills, damage to desirable plants, and effect of herbicide application restrain the aquatic herbicides market growth.
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Key Players:
• Dow Chemical (US)
• BASF (Germany)
• Monsanto (US)
• Syngenta (Switzerland)
• Nufarm (Australia)
• Lonza (Switzerland)
• Land O’Lakes (US)
The glyphosate segment is projected to dominate the aquatic herbicides market through 2022
In 2017, the glyphosate segment accounted for the largest share, by type, in the aquatic herbicides market, in terms of value and volume. Glyphosate is an important aquatic herbicide as the formulation of glyphosate is less expensive than the mechanical or manual removal of aquatic weeds; it also provides long-term control of weeds as compared to other biological and mechanical methods.
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North America to dominate the aquatic herbicides market throughout the studied period
The North American region dominated the market for aquatic herbicides, owing to the rising adoption of integrated weed management in the region. Further, due to the increase in environmental concerns and emergence of residual issues, new herbicides with improved functionality and lower residue levels are developed with different modes of action, which drives the market for aquatic herbicides in this region.
Research Coverage:
The aquatic herbicides market is segmented on the basis of type, application method, application, mode of action, and key regions. On the basis of type, the aquatic herbicides market is segmented into glyphosate, 2,4-D, imazapyr, diquat, triclopyr, and others (fluridone, flumioxazin, and copper & chelated copper). The application method comprises foliar and submerged. The application is segmented into agricultural waters, fisheries, recreational waters, and others (retention ponds, development waters, and flood control canals). On the basis of mode of action, the market is segmented into selective and non-selective. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, South America, and the Rest of the World (RoW). The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive landscape, company ranking analysis, recent developments, and key market strategies.
