Transparency Market Research, in its latest report,
forecasts that by 2020, the highest demand for penoxsulam will come
from the Asia Pacific region - a region where agrarian economies will
see increased consumption of the herbicide. In 2013 as well, the Asia
Pacific region stood as the foremost demand generator in the global
penoxsulam market, creating about 55% of the global demand for the
herbicide. The report, titled ‘Penoxsulam Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020’,
states that leading crop producers such as China, Bangladesh, India,
Vietnam, Thailand and Indonesia will consume large amounts of
penoxsulam.
This 37 page report gives readers a comprehensive
overview of the Penoxsulam market. Browse through 10 data tables and
07 figures to unlock the hidden opportunities in this market@
According to the website of the Statistics Division
of the Food and Agriculture Organization of the United Nations, in
2013, Asia accounted for about 90.6% of the total amount of rice and
paddy produced globally. The rice cultivation sector creates the
highest demand (85%) for penoxsulam as compared to other types of
crops globally.
The findings of the report state that the Rest of the
World (RoW) region comes second only to the market leader - Asia
Pacific - in terms of demand. Analysts who created the report expect
that the RoW region will report a significant rate of growth as far
as the consumption of penoxsulam goes. The report further notes that
North America is the smallest market, because the amount of rice
grown in the region is insignificant as compared to the market
leaders.
Thus, the North America penoxsulam market will put up
a lackluster performance through the current decade.Europe, on the
other hand, will experience an expansion of the penoxsulam market,
but not at a very remarkable rate. Rice is grown in a few European
countries that experience temperate climate, but the availability of
several other herbicides will likely eat into the market share of
penoxsulam in Europe. Some of the other herbicides that compete with
penoxsulam are acetochlor, butachlor, and clomazone; but penoxsulam
remains the most widely used herbicide for weed control.
Get accurate market forecast and analysis on the
Penoxsulam market. Request a sample to stay abreast on the key trends
impacting this market@
Desirable attributes of penoxsulam-such as its
mobility when used in both terrestrial and aqueous environments and
its ability to prevent weed growth without harming fauna and
animals-will encourage farmers to use this herbicide. This will impel
growth in the penoxsulam market over the forecast period of this
report.But one aspect that could potentially disrupt the global
penoxsulam market is the expiry of Dow AgroSciences LLC’s patent on
the herbicide somewhere around 2017. This will encourage many new
entrants in the market, creating an interesting competitive mix over
the next year or two. Besides profiling the company that launched
penoxsulam in 2005 (Dow AgroSciences LLC), this report also profiles
other strong contenders in the penoxsulam market, such as Hangzhou
Tianlong Biotechnology Co., Ltd. and Shijiazhuang Xingbai
Bioengineering Co., Ltd.The study offers a comprehensive analysis of
the market in terms of both revenue and volume, and offers market
estimates for the period between 2015 and 2020.
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