Picloram Market - 2023-2030

Overview

Global Picloram Market reached US$ 8.40 billion in 2022 and is expected to reach US$ 14.21 billion by 2030, growing with a CAGR of 6.8% during the forecast period 2023-2030.

The global picloram market has witnessed significant growth and transformations over the years. The demand for picloram herbicides are increasing among the farmers as they effectively kills wide range of weeds in various crops, they can applied using various methods, including foliar sprays, soil applications. This can helps in increasing the market size.

Furthermore, many manufacturing companies are producing innovative products in order to attract larger consumer bases, For instance, Rainbow company has produced 2.4 D + Picloram Rainbow 304 SL, It is a herbicide for the selective control of broadleaf weeds, quickly inhibiting their growth. Hence, such products can help in increasing the adoption rate.

The forestry segment, accounts for over half of the market share. Similarly, the Asia-Pacific dominates the picloram market, capturing the largest market share of over 1/3rd. The region's increase in horticulture, fruits and vegetbale productions helps in increasing the market. India remians largest consumer as the horticulture is 341.63 million Tone, an increase of about 7.03 million Tone.

Dynamics

Increase in Demand for High-quality Crops

The demand for highquality crops is significantly driving the market for picloram as these herbicides helps in effectively controlling various range of broadleaf weeds and woody plants, this can help in reduing the cropss looses and increasing the crop productivity and quality. Hence such factirs helps in driving the farmers to adopt picloram herbicides.

Furthermore, many manufacturing companies are producing high quality innovative products in order to expand their consumer bases and to expand their portfolios. For instance, UPL company has produced Browser a 240g/L picloram. It is a water soluble, systemic herbicide with residual activity acting through leaves, roots and cut surfaces of certain woody plants in grazing, conservation areas and on land not used for growing crops. Such products helps in increasing the adoption rate.

Increase in Demand for Product Development

The farmers are highly seeking for the alternatives of conviental herbicides for weed teratments which increase in demand for product developments is increasing as the demand for new new formulations, application methods, and technologies that enhance the effectiveness, safety, and versatility of picloram-based herbicides. Hence it can led to increase in market size.

Furthermore, many manufacturing companies are producing products in order to expand their portfolios and to increase their consumer bases. For instance, Nufam has produced Tropper 75D, with an active ingredients 2,4-D(300g/L)+picloram(75g/L), it control of a wide range of annual and perennial broadleaf weeds. Hence, such products helps in increasing the adoption rate.

Government Regulations

Government regulations can affect the growth of the global picloram market, as consumers are becoming more conscious about the chemical residues the foods and the adverse health effects caused by them many country governments have imposed some regulations and limitations for the usage of herbicides, which can lead to declination in market growth.

Furthermore, many country governments have imposed some regulations on the usage, imports and exports of these herbicides. For instance, the government of India has imposed an Insecticide Act of 1968 which regulates the use of pesticides and their import, manufacturing, sale, transit, and distribution in order to minimize the risk of adverse health effects to humans and animals. Hence, such regulations hamper the market growth.

Segment Analysis

The global picloram market is segmented based on type, crop, distribution channel, formulation, application and region.

Increase in Demand for Effective Weed Management

The forestry segment holds the maximum share in the global picloram market. The farmers are adopting these herbicides as they effectively control the wide range of broadleaf weeds, woody plants, including invasive or undesirable trees and shrubs in forested areas. Such factors can help in increasing the adoption rate.

Furthermore, the presence of vast forestry areas can help in increasing the usage of picloram herbicides as these herbicides can effectively helps in controlling wode range of weeds and woodey plants. For instance, according to Food and Agriculture Organization report of 2020, The total forest area is 4.06 billion hectares which covers 31 percent of the global land area. Hence, presence of wide area can help in increasing the market size.

Geographical Penetration

Increase in Horticulture Production and Increase in Fruits and Vegetable Production

Asia-Pacific has been a dominant force in the global picloram market and its significance has only grown in the post-2020 era. The farmers in this region are highly adopting these herbicides as they stay for a longer time in the soil, they effectively eradicate a wide range of broad leafy, hence such factors can help in increasing the usage of picloram herbicides in this region.

Furthermore, the picloram herbicides are highly being used in horticulture as they effectively control wide range of weeds and helps in increasing the productivity. For instance, according to Ministry of Agriculture & Farmers report of 2022, in India total horticulture production in 2021-22 is estimated to be 341.63 million ton, an increase of about 7.03 million ton (increase of 2.10% than 2020-21.

Additionally, the fruits and vegetable cultivation farmers are highly adopting these picloram herbicides as they help in increasing productivity by effectively controlling the weed population. For instance, according to Ministry of Agriculture & Farmers report of 2022, in India, Fruits production is estimated to be 107.10 million tons compared to 102.48 million Tone in 2020-21.and Vegetables is estimated to be 204.61 million tons, compared to. 200.45 million tons in 2020-21.

Competitive Landscape

The major global players in the market include FMC Corporation, UPL, Nufarm, Nutrichem, Rainbow Chemical, YongNong BioSciences CO., Ltd., Shanghai Bosman Industrial Co., Ltd., Hangzhou Tianlong Biotechnology Co., Ltd., Arysta LifeScience Corporation and DowDupont.

COVID-19 Impact Analysis

The pandemic has brought a disruption in the supply chain, many manufacturing companies and large scale agricultural practices are shut down due to government lockdown restrictions, which have led to limitations of products and raw materials in the markets which have led to declination in the global picloram market.

Furthermore, during the pandemic, many people have started adopting indoor agricultural practices as the health consciousness among consumers has increased and to kill their free time, this has increased the usage of herbicides as they help produce high-quality products. Hence, it led to an increase in the global picloram market.

Russia-Ukraine War Impact Analysis

The ongoing conflict between Russia and Ukraine has brought a disruption in the country's economy, due to the low economy ratio, import and export rates many manufacturing companies are shut down, which has led to a decrease in the availability of products and raw materials I the market which has shown a negative impact on global picloram market.

Furthermore, agricultural practices are also disrupted due to the pollution caused by the war which has led to a decrease in the usage of these herbicides in the agriculture sector, and also people started investing more in essential needs due to the low income rate, this has led to decrease in global picloram market.

By Type

• 92% TC
• 95% TC
• Others

By Crop

• Cereals & Grains
• Oilseeds
• Fruits & Vegetables
• Others

By Distribution Channel

• Company Stores
• E-Commerce
• Hypermarkets/Supermarkets
• Specialty Stores
• Others

By Formulation

• Powder
• Liquid

By Application

• Agriculture
• Landscape
• Horticulture
• Forestry
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In July 2021, Nufarm Americas Inc., has launched Leopard herbicide. It is dual-active formulation boosts foliar activity and adds residual to burndown applications, so fields stay clean up to planting.
• In December 2022, Corteva Agriscience launches the Novixid herbicide for weed management.

Why Purchase the Report?

• To visualize the global Picloram market segmentation based on type, crop, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of picloram market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global picloram market report would provide approximately 77 tables, 81 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies