San Francisco, California, August 17, 2017: TMR Research discusses the numerous facts and figures revolving around the supply, demand, and market opportunities for the penoxsulam, the herbicide, in “Penoxsulam Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.” The chemical is a core component for herbicides that include sulfonamides. It is a systemic herbicide known for its effective eradication of numerous types of weeds, such as broadleaf weeds and grass weeds. Penoxsulam is very commonly used across various plant growing avenues, ranging from farms and plantations to residential plantations and commercial complex farms.
Currently, one of the leading factors driving the demand in the global penoxsulam market is the growing demand for rice across the world. Penoxsulam is widely popular for its effectiveness in removing weed harmful to rice crops, while leaving the rice crops unaffected. The demand for rice, meanwhile, has been expanding along a sharp curve, owing to the growing global population, as well the growing proportion of demand for rice and rice products from the urban consumer pools across key regions. Apart from this, the global penoxsulam market is also benefitting from the growing number of gardens and lawns in residential and commercial areas, as well as the growth in the number of sports complexes and stadiums in the world.
Penoxsulam is an active ingredient contained in a sulfonamide based herbicide, which is primarily manufactured by Dow AgroSciences. Apart from Dow, penoxsulam is also manufactured under different names such as SC Granite, which is largely found in the U.S.
Regionally, Asia Pacific has so far been the dominant consumer in the global penoxsulam market, owing to the high percentage of rice consumption in its key countries. Nations such as India, China, Vietnam, Bangladesh, and many others from the Asia Pacific markets take up rice as a staple food and include it in a large number of preparations as well as for regular consumption. In the recent past, China and India collectively took up nearly half the total penoxsulam consumed in Asia Pacific.
North America and Europe are also expected to show a significant rise in the demand for penoxsulam owing to a growing consumption of rice as well as the growing trend of home agriculture and gardens.
The leading players in the global penoxsulam market so far, have included The Dow Chemical Company, Bayer CropScience AG, BASF SE, Syngenta International AG, Nufarm Ltd., Monsanto Co., Chemtura Corp, and Nufarm Ltd.
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