Market Research Overview
Aquatic herbicides are pesticides developed to eliminate weeds in ponds or other similar aquatic environment. It can kill pond weeds, lake weeds, and pond algae. It can come in granular or liquid forms. Aquatic herbicides can ensure the growth of plants and foster the growth of aquatic flora and fauna. The global aquatic herbicides market report by Market Research Future (MRFR) asserts the various factors, opportunities, and drawbacks for the period between 2019 and 2024 (forecast period).
Market Outlook
The global aquatic herbicides market size can touch USD 721.1 million by 2024 while exhibiting a CAGR of 6.4% during the forecast period. The rising trend of aquaculture is expected to drive the market growth exponentially. Government approval granted to citizens to foster fishes can bode well for the market. According to the U.S. Environmental Protection Agency (EPA), only 13 out of 300 herbicides have been granted approval for commercialization.
Large number of man-made reservoirs, construction of farm ponds for storage and distribution of water, and rise of fishery are notable factors driving the global aquatic herbicides market growth. Moreover, methods developed by scientists in altering the aquatic environment to prevent the growth of weeds can augur favorably for the market.
But long response times of these fertilizers and negative public perception can pose challenges to the market growth.
Competitive Outlook
Lonza Group Ltd, Sanco Industries, Inc, Nufarm Ltd, Land O’Lakes Inc, The Dow Chemical Company, UPL INDIA LTD, Valent BioSciences LLC, Aquacide Company, Albaugh LLC, Monsanto Company, Syngenta AG, BASF SE, SOLitude Lake Management, SePRO Corporation, Alligare, and others are reputed companies currently operating in the global aquatic herbicides market.
Segmentation Analysis
The global aquatic herbicides Industry share is segmented based on type, mode of application, mode of action, and application.
The global for aquatic herbicides application Industry is segmented into Imazapyr, 2-4-D, glyphosate, and others. Glyphosate can command the market’s leading position till 2024 owing to its high effectiveness and easy application.
by mode of aquatic herbicides type market, is segmented into foliar and submerged. Foliar sprays are presumed to gain the lead in the market due to its high demand and ease in application.
By mode of action, it is divided into selective and non-selective. Non-selective herbicides attack indiscriminately on all plants in the aquatic environment, while the selective herbicides segment can be selective in its targets and protect other living entities. Among the two, selective herbicides market are projected to dominate the global aquatic herbicides market scope till 2024.
Based on application, the market is segmented into recreational waters, agricultural waters, and fisheries. Agricultural waters will be the biggest application owing to government approval and subsidies given to farmers to faster cultivation of aquatic ecosystems.
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Regional Analysis
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are major regions in the global aquatic herbicide type market.
North America is expected to dominate the global market till 2024 owing to the adoption of integrated weed management systems. Rising awareness about rising environmental concerns and use of herbicides in farming can create a market demand for herbicides. Lower cost of weed management is an added bonus which can bolster the market demand till the end of the forecast period.
The APAC region is projected to display an exemplary growth rate during the forecast period owing to the massive demand for glyphosate from Australia and New Zealand. In addition, the rise in farming activities in China and India can provide a notable boost in demand of aquatic herbicides.
The RoW can command a significant market share owing to countries in the Middle East pledging to conserve water bodies existing in the aquatic ecosystem.
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