The advantages of using aquatic herbicides over other treatment methods such as manual and mechanical methods are also driving the market for aquatic herbicides.
The aquatic herbicides market was valued at USD 470.9 Million in 2016 and is projected to reach USD 696.4 Million by 2022, growing at a CAGR of 6.8% from 2017, in terms of value. The objectives of this study are to define, segment, and project the size of the market based on type, application method, mode of action, application, and key regions.
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Target Audience
The glyphosate segment is projected to dominate the market through the forecast period. Glyphosate is an important segment of the market as the formulation of glyphosate is less expensive than the mechanical or manual removal of aquatic weeds; it also provides long-term control of weeds when compared to other biological and mechanical methods.
In the Asia Pacific region, Australia and New Zealand dominate the market. The major herbicides used in this region to control underwater weeds are glyphosate, 2,4-D, and diquat. Glyphosate is the most effective weed killer used in New Zealand for controlling emergent weeds. Diquat is the oldest herbicide, which has been used for over 40 years in New Zealand for controlling submerged weeds as it does little harm to non-nuisance native species.
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The aquatic herbicides market is concentrated, with leading companies driving the market growth. This report provides a qualitative analysis of the prominent market players and their preferred development strategies. Key players such as Dow Chemical (US), BASF (Germany), Monsanto (US), Syngenta (Switzerland), and Nufarm (Australia) have been profiled in the report. These leading players have adopted various strategies such as expansions, mergers & acquisitions, and collaborations/partnerships/agreements to explore new and untapped markets, expanding in local areas of emerging markets, and developing a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach but has also reinforced their market position by gaining a larger share in terms of revenue and product portfolios.
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