by Pyroxasulfone is a pre-emergent herbicide that can be used in a variety of crops to control the growth of broadleaf weeds and grasses. It works by inhibiting the synthesis of very long chain fatty acids in weeds, thereby hindering membrane biosynthesis. The herbicide provides long-lasting control ofproblematic grass and broadleaf weeds without harming crop rotations. It has a favorable environmental and toxicological profile.
The Global Pyroxasulfone Market is estimated to be valued at US$ 318.53 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the pyroxasulfone market are Aha! Labs, Betterworks, BirdDogHR, Javelo, Peopleflunet, Qilo Technologies, Qunatum Workplace, Workteam, Wrike, Inc. and Others.
The key opportunities in the Pyroxasulfone Market Demand include growing adoption in corn and rice crops cultivation along with research & development of new herbicide formulations. Advancements such as development of water dispersible granule formulations and combining pyroxasulfone with other active ingredients are expanding its scope of application.
Market drivers
Increasing global demand for food due to rising population has intensified pressure on farmers to increase crop yields. This has augmented the need for high-performing herbicides like pyroxasulfone to control weeds. Its effectiveness, long-lasting effect and broad spectrum of activity make it a preferred option among farmers. The market is primarily driven by the favorable properties of pyroxasulfone and growing awareness regarding its benefits.
Current challenges in Pyroxasulfone Market
The Pyroxasulfone Market has been facing many challenges over the last few years that are hindering its growth. The major challenges include increasing raw material prices and supply chain disruptions. Pyroxasulfone is a mixture of various chemicals and arises that are witnessing high price volatility. Fluctuations in crude oil prices indirectly impact the prices of these chemicals as well. Frequent lockdowns and restrictions amid the ongoing pandemic have disrupted supply chains and logistic activities globally. It has affected the smooth movement of raw materials and finished products.
SWOT Analysis
Strength: Pyroxasulfone is a highly effective broad-spectrum herbicide that provides long-lasting weed control. It is easily absorbed by weed plants.
Weakness: Pyroxasulfone is effective against a limited number of weeds and not suitable for post-emergent applications. Frequent usage can lead to the development of weed resistance.
Opportunity: Growing demand for high-value and non-genetically modified crops is increasing the need for effective herbicide formulations like Pyroxasulfone. Product innovations to expand its weed control spectrum can boost opportunities.
Threats: Stringent regulations over pesticide usage and residual limits pose threats. Development of bio-based and organic alternatives also threatens market prospects.
Geographical regions of concentration
North America accounts for the largest share of around 35% of the global Pyroxasulfone market in terms of value. The US is a major consumer due to the extensive corn cultivation that demands effective herbicides. Asia Pacific is also a prominent regional market led by countries like China, India, and Japan owing to the increasing cultivation of rice and vegetables.
Fastest growing geographical region
Latin America is expected to witness the fastest growth in the Pyroxasulfone market over the forecast period. Countries like Brazil, Argentina, and Colombia are anticipated to drive the demand on the back of expanding agricultural activities and rising pesticide usage. The growing adoption of advanced agricultural practices and herbicides is further propelling the market growth in the region.
