COVID-19 Impact On Aquatic Herbicide Market Segmented by Product Type, Region, Forecast To 2024

Market Scenario

Global Aquatic Herbicides Market is expected to register a CAGR of 6.4% from 2019 to 2024 and reach USD 721.1 million by the end of 2024. Aquatic herbicides are weed killers used to prevent, control, and eradicate weeds in aquatic conditions. The US Environmental Protection Agency (USEPA) has registered 300 herbicides, and only 13 active ingredients are approved for use in and near aquatic habitats. Aquatic herbicides can be selective and non-selective, based on their mode of action. Selective herbicides target only certain specified selective herbicides and are non-harmful to other living entities in the same aquatic ecosystem. Non-selective herbicides attacks on every plant which meets them.

Market Segmentation

The Global Aquatic Herbicide Market has been segmented based on form, mode of action, mode of application, chemical formulation, type, application, and region.

Based on mode of action, the global aquatic herbicide market has been segmented into selective and non-selective. The selective herbicides segment accounted for the larger market share in 2017 as these herbicides kill specific plants or weeds while leaving the desired plant relatively unharmed. The market is expected to grow at a significant rate during the forecast period.

Based on chemical formulation, the global aquatic herbicide market has been segregated into glyphosate, 2,4-d, imazapyr, diquat, triclopyr, and others (fluridone, flumioxazin, and copper and chelated copper). The glyphosate herbicides segment is expected to register the highest CAGR during the forecast period as the product is the most widely used herbicide owing to its high efficiency and quick action.

Based on type, the global aquatic herbicide market has been segmented into contact and systematic herbicides. Contact herbicides are used extensively due to their performance and effective action. Thus, the segment is projected to grow at a rapid pace in the coming years.

Competitive Analysis

Some of the prominent players in the global aquatic herbicide market are DowDuPont (US), BASF SE (Germany), Monsanto Company (US), Syngenta (Switzerland), Nufarm Limited (Australia), Lonza (Switzerland), Land O’ Lakes, Inc. (US), UPL (India), Platform Speciality Products Corporation (US), SePRO Corporation (US), Albaugh LLC (US), Valent BioSciences LLC (US), and Sanco Industries, Inc. (US).

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Regional Analysis

The global aquatic herbicide market has been divided into five regions, namely, North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The North American market is expected to be the largest during the forecast period due to the high demand for herbicides in integrated weed management systems in the region. The market in Asia-Pacific is projected to be the second largest, registering the highest CAGR during the review period.

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