Penoxsulam Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Penoxsulam Market Analysis
The penoxsulam market is expected to grow at a CAGR of over 4% during the forecast period. Major factor driving the market studied is growing demand of penoxsulam from agrochemicals. On the flip side, Hazardous nature of penoxsulam towards aquatic animals and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.
- Growing demand of penoxsulam as biochemical from agriculture industry is forecasted to offer various opportunities for the growth of the market over the forecast period.
- Penoxsulam from agrochemical application is expected to dominate the market studied over the forecast period.
- Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
Penoxsulam Market Trends
This section covers the major market trends shaping the Penoxsulam Market according to our research experts:
Growing Demand of Penoxsulam from Agrochemicals
- Penoxsulam is a systemic herbicide that moves throughout the plant tissue and prevents plants from producing a necessary enzyme, acetolactate synthase (ALS), and should be applied to plants that are actively growing mature plants which require a higher concentration of herbicide for a longer contact time.
- Penoxsulam is used to control broadleaf, sedge, and grass weeds in transplanted, dry seeded and water-seeded rice.
- Penoxsulam is a new post-emergence, acetolactate synthase (ALS) inhibitor herbicide used as a foliar spray on dry-seeded rice crops, or as either a foliar spray or a granular formulation on water-seeded rice crops in order to control broadleaf weeds, aquatic plants, and certain grasses.
- Exponentially growing population and ever-increasing demand for food necessitate the use of more agrochemicals to increase the yield per hectare, which in turn increased pressure on dwindling farmlands.
- Hence, owing to the above-mentioned factors, the application of penoxsulam from agrochemical is likely to dominate during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for penoxsulam during the forecast period. The rising demand of penoxsulam from agrochemical and growing application in pharmaceutical sector in developing countries like China, Japan and India is expected to drive the demand for penoxsulam in this region.
- The largest producers of penoxsulam are located in Asia-Pacific region. Some of the leading companies in the production of penoxsulam are Dow, BASF SE, Toronto Research Chemicals, Hangzhou Tianlong Biotechnology Co., Ltd and Crystal Crop Protection Pvt Ltd among others.
- The Indian economy traditionally being an agrarian economy is currently the 4th largest manufacturer of agrochemicals after the United States, Japan and China
- In recent years, the Chinese government has introduced a series of policies which include developing multinational clinical centers and accelerating the approval process of special medicine to narrow the pharmaceutical innovation gap between China and other leading countries.
- Owing to the above-mentioned factors, the market for penoxsulam in the Asia-Pacific region is projected to grow significantly during the study period.
Penoxsulam Industry Overview
The global penoxsulam market is consolidated in nature with only few major players dominating the market. Some of the major companies are Dow, BASF SE, Toronto Research Chemicals, Hangzhou Tianlong Biotechnology Co., Ltd and Crystal Crop Protection Pvt Ltd among others.
Penoxsulam Market Leaders
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Dow
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BASF SE
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Toronto Research Chemicals
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Hangzhou Tianlong Biotechnology Co., Ltd
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Crystal Crop Protection Pvt Ltd
*Disclaimer: Major Players sorted in no particular order
Penoxsulam Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand of Penoxsulam From Agrochemicals
- 4.1.2 Others
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4.2 Restraints
- 4.2.1 Hazardous Nature of Penoxsulam towards Aquatic Animals
- 4.2.2 Complex Manufacturing Process
- 4.2.3 Others
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
- 4.5 Raw Material Analysis
- 4.6 Process Analysis
5. MARKET SEGMENTATION
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5.1 Product
- 5.1.1 Liquid Concentration
- 5.1.2 Granules
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5.2 Crop
- 5.2.1 Rice
- 5.2.2 Aquatic Plants
- 5.2.3 Others
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5.3 Application
- 5.3.1 Agrochemical
- 5.3.2 Fertilizer
- 5.3.3 Pharmaceutical
- 5.3.4 Food Additive
- 5.3.5 Biochemical
- 5.3.6 Others
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 South Africa
- 5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 BASF SE
- 6.4.2 Bayer AG
- 6.4.3 Chemtura Corp
- 6.4.4 Crystal Crop Protection Pvt Ltd
- 6.4.5 Dow
- 6.4.6 Hangzhou Tianlong Biotechnology Co., Ltd
- 6.4.7 Monsanto Company
- 6.4.8 Nufarm Ltd
- 6.4.9 Shijiazhuang Xingbai Bioengineering Co., Ltd.
- 6.4.10 Sumitomo Chemical
- 6.4.11 Syngeta International AG
- 6.4.12 Toronto Research Chemicals
- 6.4.13 UPL
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Demand of Penoxsulam as Biochemical from Agriculture Industry
- 7.2 Other Opportunities
Penoxsulam Industry Segmentation
The penoxsulam market report includes:
Penoxsulam Market Research FAQs
What is the current Penoxsulam Market size?
The Penoxsulam Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Penoxsulam Market?
Dow, BASF SE, Toronto Research Chemicals, Hangzhou Tianlong Biotechnology Co., Ltd and Crystal Crop Protection Pvt Ltd are the major companies operating in the Penoxsulam Market.
Which is the fastest growing region in Penoxsulam Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Penoxsulam Market?
In 2024, the Asia Pacific accounts for the largest market share in Penoxsulam Market.
What years does this Penoxsulam Market cover?
The report covers the Penoxsulam Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Penoxsulam Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Penoxsulam Industry Report
Statistics for the 2024 Penoxsulam market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Penoxsulam analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
