Aquatic herbicides are chemical agents used for controlling weeds in aquatic systems. The continuous increase in growth and number of these weeds restricts water movement and increases the sedimentation rate in aquatic systems such as agricultural waters, fisheries, and recreational waters. Furthermore, it degrades water quality, reduces biodiversity, and leads to economic losses for the agricultural, fishery, and recreation sectors. Aquatic herbicides have gained importance due to their ease of application and ability to save time and labor costs.
The aquatic herbicides market includes players such as Dow Chemical (US), BASF (Germany), Monsanto (US), Syngenta (Switzerland), and Nufarm (Australia). Other significant players include Lonza (Switzerland), Land O'Lakes (US), UPL (India), Platform Specialty Products (US), SePRO Corporation (US), Albaugh (US), Valent (US), and SANCO INDUSTRIES (US).
The global aquatic herbicides market is projected to reach USD 696.4 Million by 2022, at a CAGR of 6.8% from 2017.
The market is concentrated, with key market players adopting investments and strategic alliances, expansions, mergers & acquisitions, and collaborations/partnerships/agreements with other players to strengthen their business, explore new and untapped markets, expand in local areas of emerging markets, and develop a new customer base for long-term client relationships.
Monsanto is engaged in the manufacturing and marketing of agricultural products, globally. The company focuses on providing high-quality yielding biotech and conventional seeds, preliminary traits, and technologies that provide more durable and nutritious crops and safe & potent crop protection solutions to farmers worldwide. It operates through two business segments, namely, seeds & genomics and agricultural productivity. The agricultural productivity segment is engaged in the production of herbicides and other crop protection products, and finds wide applications in the agricultural as well as the industrial markets. It has its presence in various regions, such as North America, Europe, Asia Pacific, and Africa.
In the last few years, Monsanto acquired companies, which has not only helped in building a strong geographical presence around the globe but has also enhanced the company’s technological advancements significantly. The collaboration of Monsanto and Sumitomo Chemical Company (Japan), in June 2016, would help the two companies to strengthen their pesticides business, globally.
Dow Chemical (US)
Dow Chemical manages its business operations through six segments-performance plastics, performance materials & chemicals, infrastructure solutions, agricultural science, consumer solutions, and corporate. The company’s integrated, market-driven portfolio delivers a broad range of technology-based products and solutions in high-growth sectors such as agriculture, packaging, transportation, consumer care, infrastructure, and electronics.
Dow Chemical operates globally through its subsidiaries and has 197 production facilities in 36 countries. It serves its agricultural products through its wholly owned subsidiary-Dow AgroSciences. It offers products and solutions in over 150 countries and has operations in North America, Europe, the Middle East, Africa, and the Asia Pacific.
The company has witnessed technology-driven growth, brought on by pesticides and seed/plant biotechnology products and technologies. It also focuses on collaborating with major players to optimize its technology in the pesticides segment. The merger of Dow Chemical and DuPont (US) on September 2017 creates an opportunity to build sustainable growth and innovation in the agricultural segment. It would also generate long-term returns for its shareholders. Since the company is focusing more on market visibility, productive R&D would create an opportunity for the growth of aquatic herbicides.
Aquatic Herbicides Market by Type (Glyphosate, 2,4-D, Imazapyr, Diquat, Triclopyr), Application Method (Foliar, Submerged), Application (Agricultural Waters, Fisheries, Recreational Waters), Mode of Action, and Region - Global Forecast to 2022
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