Market Trends of herbicide Industry
The high ability of weeds to adapt to different environments and develop resistance is leading to higher herbicide application rates
- The global average per-hectare consumption of herbicides increased by 44.4% during the historical period, from 1.8 kg/ha in 2017 to 2.6 kg/ha in 2022. The need for increased application of chemical herbicides is growing Y-o-Y as the adaptability and rapid reproduction of weeds make them highly competitive with crops, leading to higher yield losses. Hence, there is a growing need for more herbicide applications to control weeds and prevent reduced agricultural productivity.
- Herbicides are the most applied chemical pesticides compared to fungicides and insecticides. Among all the regions, South America had the highest per-hectare consumption in 2022, accounting for 5.3 kg, attributed to its extensive production of crops such as soybeans, corn, and sugarcane, which often involves large-scale commercial farming and high-density planting. Intensive agricultural practices contribute to higher weed pressure, necessitating herbicides to manage weed populations and protect crop yields effectively. South America was followed by North America and Europe, with an average per hectare consumption of 1.8 kg and 1.7 kg, respectively, in 2022.
- The rising prevalence and spread of herbicide-resistant weeds have become a growing issue for farmers across the globe, leading to the escalated usage of herbicides or the application of multiple herbicides to combat these resistant weed populations. For instance, palmer amaranth and common water hemp are resistant to glyphosate, horseweed and giant ragweed are resistant to multiple herbicides, and kochia is resistant to acetolactate synthase-inhibiting herbicides.
- The need for herbicide application is increasing drastically due to factors like the high ability of weeds to adapt to different environments and develop resistance.
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2,4-D and glyphosate are widely used herbicides globally for selective control of broadleaf weeds
- Metribuzin is a herbicide belonging to the chemical class of triazines. It was priced at USD 16.6 thousand per metric ton. It is widely used to control various weed species in crops. Metribuzin specifically targets the photosystem II (PSII) protein complex in chloroplasts, disrupting the plants' ability to convert light energy into chemical energy during photosynthesis. This leads to the accumulation of toxic by-products and, ultimately, the death of the targeted weeds.
- Atrazine is an herbicide widely used to control broadleaf and grassy weeds like Echinochloa, Elusine spp., and Amaranthus viridis in maize and rice crops. The herbicide was valued at USD 13.5 thousand in 2022. India is the largest importer of atrazine technical worldwide, while China is the largest exporter.
- Paraquat is a widely used herbicide belonging to the chemical class of bipyridylium compounds. Due to its rapid action and non-selective nature, paraquat is commonly used as a pre-plant or pre-emergence herbicide to control weeds before crops emerge. It is effective in a wide range of crops, including cotton, corn, soybeans, and sugarcane. Paraquat was priced at USD 7.0 thousand in 2022.
- Pendimethalin is a herbicide belonging to the chemical class of dinitroanilines. It is widely used to control various annual grasses and broadleaf weeds in agricultural crops. It was priced at USD 3.3 thousand per metric ton in 2022. By disrupting early weed development, pendimethalin helps reduce weed competition with crops during their early growth stages.
- 2,4-D and glyphosate are widely used herbicides globally for selective control of broadleaf weeds. They were priced at USD 2.3 thousand and USD 1.1 thousand, respectively, in 2022.
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