Bispyribac sodium is a type of herbicide that is used for controlling the growth of unwanted plants such as perennial grasses, sedges, and broadleaf weeds. The application of bisyribac sodium helps in increasing the yield of crop.
- Bispyribac sodium market is expected to gain traction during the forecast period as this herbicide can be used both, before and after the plantation of crops, preventing them from the growth of unwanted weeds.
- Furthermore, loss of nutrients and moisture can be minimized by pre-emergence or pre-sowing application of bispyribac sodium. This factor is expected to attract farmers and thereby increase demand for bispyribac sodium globally.
- However, increasing use of such herbicides can have a negative impact on the environment, which is expected to hinder the market growth of bispyribac sodium. For instance, the use of herbicides for controlling weeds results in the contamination of water or soil in the surrounding. Moreover, improper use of bisyribac sodium on crops can affect the yield of crops.
- In terms of application, the rice segment is expected to account for a significant market share during the forecast period owing to favorable benefits such as highest weed control efficiency obtained by applying bispyribac sodium during rice plantation. Apart from this, bispyribac sodium in rice fields can keep the weed below the economic threshold limit. This is expected to further boost growth of rice segment during the forecast period.
- Key players are mainly focusing on merger and acquisitions in order to gain a higher share in the global bispyribac sodium market. For instance, in June 2017, Kumiai Chemical Industry, a Japan-based agrochemical manufacturer, entered into an agreement with PI Industries Limited (PI), an India-based agrochemical ingredient player, for the manufacturing and distribution of bispyribac sodium in India.
- In terms of regions, Asia Pacific region is expected to exhibit significant share during the forecast period owing to increasing demand for rice plantation in this region, which is expected to increase demand for bispyribac sodium as an herbicide. For instance, according to the Organisation for Economic Co-operation and Development (OECD), in 2015, China witnessed a total rice production of 4.8 tons/hectare which increased and reached 4.9 tons/hectare in 2018; and India recorded 2.4 tons/hectare of rice production which further increased and reached 2.5 tons/hectare in 2018. This factor is expected to increase the market share of Asia Pacific in the global bispyribac sodium market during the forecast period.
- Key players operating in the global bispyribac sodium market include Kumiai Chemical Industry Co. Ltd., Hubei Huida Technology Development Co., Ltd., Hefei Xingyu Chemical Co., Ltd., CAC GROUP, Jiangsu Repont Agrochemical Co.,Ltd., Guangdong Liwei Chemical Industry Co., Ltd., and Jiangsu Runze Agrochemical Co., Ltd.
On the basis of type, the global bispyribac sodium market is segmented into:
On the basis of application, the global bispyribac sodium market is segmented into:
On the basis of region, the global bispyribac sodium market is segmented into:
- North America
- South America
- Rest of South America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East
- Rest of Middle East
- Northern Africa
- Central Africa
- South Africa