June 22, 2024
Pyroxasulfone Market

Pyroxasulfone Market is Expected to be Flourished by Growing Demand for Herbicides in Agricultural Sector

Pyroxasulfone is an herbicide used for pre-emergence weed control in rice crops. It is a tank-mix option for grass and paddy weeds in transplanted rice cultivation. Pyroxasulfone works by inhibiting the production of very long chain fatty acids in weeds. This disrupts weed cell membranes and chloroplast development, resulting in the inhibition of root and shoot growth. The global Pyroxasulfone market is estimated to witness significant growth owing to its effectiveness in controlling a broad spectrum of weed species in rice cultivation.

The global Pyroxasulfone Market is estimated to be valued at US$ 89 million in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

As mentioned in the heading, growing demand for herbicides from the agricultural sector is expected to drive the pyroxasulfone market growth over the forecast period. Rapid population growth has increased the demand for food, owing to which farmers are adopting high-yield crop varieties that require effective weed management. Pyroxasulfone effectively controls weeds with its pre-emergent activity and residual control. Its low application rates also reduce the cost of production for farmers. In addition, support from government organizations in the form of subsidies and promotional activities to increase farm productivity is also fueling the adoption of pyroxasulfone among rice growers globally.

Segment Analysis

Pyroxasulfone market is dominated by the grain and cereals sub-segment. Pyroxasulfone herbicide has wide applications in controlling broadleaf weeds and grasses in wheat, soybeans, and corn. It works by inhibiting the synthesis of very long chain fatty acids in weeds. The grain and cereals sub-segment accounts for over 65% share of the overall pyroxasulfone market due to the growing consumption of wheat, corn and other grains globally. The usage of pyroxasulfone keeps the grain crops free from unwarranted weed infestation and helps bolster agricultural productivity.

PEST Analysis

Political: Stringent regulations regarding the use of agrochemicals in various countries can impact the pyroxasulfone market. However, growth in support from governments worldwide for boosting farm output aids the market.

Economic: Rising farm incomes, growing global demand for food grains along with initiatives of governments to enhance agriculture are fueling the adoption of weed control measures including pyroxasulfone.

Social: With increasing population, food demand is rising rapidly. Pyroxasulfone helps meet this demand by enabling higher crop yields through effective weed management.

Technological: Advancements in formulations are leading to products that are more compatible with crops and cause minimal residues. This improves the agricultural sustainability and drives the usage of pyroxasulfone.

Key Takeaways

The global Pyroxasulfone Market Growth is expected to witness high growth over the forecast period supported by the rising consumption of food grains worldwide and need for maximizing agricultural productivity.

The Asia Pacific region currently dominates the market owing to large farmlands and increasing incidence of weed infestation in countries like China and India. Key players operating in the pyroxasulfone market are Nufarm, Dow, Zhejiang Heben Pesticide & Chemicals, and FMC.

Key players operating in the pyroxasulfone market are Nufarm, Dow, Zhejiang Heben Pesticide & Chemicals, and FMC. Nufarm and Dow collectively account for over 50% of the global pyroxasulfone supply.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it