Aquatic Herbicides Market Size Projected to Surpass USD 1305.9 Million by 2030
Global Aquatic herbicide market Outlook
Aquatic herbicide market is anticipated to touch USD 1305.9 million by 2030 at a CAGR of 9.4% from 2022 to 2030.
The global aquatic herbicide market has been segmented based on form, mode of action, mode of application, chemical formulation, type, application, and region.
On the basis of form, the market has been divided into liquid and granules. The liquid herbicides segment is expected to be the larger and faster-growing market during the review period due to the ease of use and high effectiveness.
Based on mode of action, the global aquatic herbicide market has been segmented into selective and non-selective. The selective herbicides segment accounted for the larger market share in 2021 as these herbicides kill specific plants or weeds while leaving the desired plant relatively unharmed. The market is expected to grow at a significant rate during the forecast period.
By mode of application, the global aquatic herbicide market has been categorized as foliar sprays and sub-surface injection. The market of foliar sprays is predicted to grow at a higher rate during the forecast period due to the rising demand and ease of application.
Based on chemical formulation, the global aquatic herbicide market has been segregated into glyphosate, 2,4-d, imazapyr, diquat, triclopyr, and others (fluridone, flumioxazin, and copper and chelated copper). The glyphosate herbicides segment is expected to register the highest CAGR during the forecast period as the product is the most widely used herbicide owing to its high efficiency and quick action.
On the basis of type, the global aquatic herbicide market share has been segmented into contact and systematic herbicides. Contact herbicides are used extensively due to their performance and effective action. Thus, the segment is projected to grow at a rapid pace in the coming years.
The application segments of the global aquatic herbicides market are fisheries, recreational water, agricultural water, and others. The agricultural water is expected to be the leading application segment during the forecast period due to the growth of the agricultural sector.
Regional Analysis:
The global aquatic herbicide market has been divided into five regions, namely, North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The North American market is expected to be the largest during the forecast period due to the high demand for herbicides in integrated weed management systems in the region. The market in Asia-Pacific is projected to be the second-largest, registering the highest CAGR during the review period. The European market is expected to register considerable growth, while the markets in Latin America and the Middle East & Africa are projected to grow at a steady pace during the forecast period.
Competitive Analysis:
Some of the prominent players in the global aquatic herbicide market are DowDuPont (US), BASF SE (Germany), Monsanto Company (US), Syngenta (Switzerland), Nufarm Limited (Australia), Lonza (Switzerland), Land O’ Lakes, Inc. (US), UPL (India), Platform Speciality Products Corporation (US), SePRO Corporation (US), Albaugh LLC (US), Valent BioSciences LLC (US), and Sanco Industries, Inc. (US).
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