Market Trends of north america herbicide Industry
Advancements in herbicide formulations are driving adoption among North American farmers
- Herbicide consumption in North America has been increasing since 2017 and reached 5.6 kg per hectare of cropland. The United States is the largest consumer per hectare, with 2.7 kg/hectare in 2022.
- The increase in the emergence and spread of herbicide-resistant weeds has been an increasing concern for farmers in North America, resulting in the application of higher amounts of herbicides or multiple herbicides to control herbicide-resistant weeds. 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 (ALS) inhibiting herbicides.
- Moreover, conservation tillage practices, such as no-till and reduced-till farming, have gained popularity in North America due to their environmental and soil health benefits. For instance, the number of farms practicing intensive tillage in the United States declined by 35% between 2012 and 2017, and a similar trend was observed in Canadian and Mexican agricultural farms. This decrease in intensive tillage has caused heavy reliance on herbicides to effectively control weeds.
- In addition, there is a growing demand for high-yielding crops to meet increasing food and feed requirements, which is boosting the need for higher herbicide usage. Farmers may rely on increased herbicide usage to effectively manage weed competition to maximize crop yields, ensuring optimal crop growth and productivity.
- Advancements in herbicide formulation technologies and the growing popularity of genetically modified crops have enabled farmers to apply herbicides directly to the crop, only affecting the weeds. These trends are further anticipated to increase herbicide usage per hectare of land in North America.
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The rising yield losses due to weeds is driving the demand for herbicides, thereby driving the prices of herbicides
- Weed infestation remains a significant challenge in agriculture, causing yield losses and increased production costs for farmers. Atrazine, paraquat, and glyphosate are commonly used herbicides in North America.
- Atrazine, a systemic herbicide classified under the chlorinated triazine group, is employed to specifically target and manage annual grasses and broadleaf weeds before they sprout. Herbicide formulations containing atrazine are approved for application on a range of agricultural crops, such as corn, sweet corn, sorghum, sugarcane, wheat, macadamia nuts, and guava. In addition, atrazine is used in nursery/ornamental and turf management. Its value in 2022 was recorded at USD 13.8 thousand per metric ton.
- Paraquat dichloride, commonly referred to as "paraquat," is a widely utilized herbicide in North America, renowned for its well-known end-use product name, Gramoxone, in the United States. Paraquat assumes a vital role in weed control across a variety of agricultural and non-agricultural settings. Additionally, it finds application in crop desiccation, such as cotton, before harvesting. In the year 2022, paraquat held a price of USD 4.6 thousand per metric ton.
- Glyphosate functions as a systemic and wide-ranging herbicide effective post-emergence. Its utilization has witnessed substantial growth in recent decades, positioning it as one of the most prevalent herbicides. Glyphosate-containing products are available in diverse forms, including liquid concentrate, solid, and ready-to-use liquid. This compound finds application in both agricultural and non-agricultural contexts to manage weed growth. As of 2022, the market value of glyphosate stood at USD 16.6 thousand per metric ton.
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