Press Release / Business / Atrazine Industry Challenges, Opportunities, Regional Analysis, Drivers Overview Forecast To 2024

Atrazine Industry Challenges, Opportunities, Regional Analysis, Drivers Overview Forecast To 2024

Atrazine Market Overview

The Global Atrazine Market is expected to register a CAGR of 6.07% from 2019 to 2024 and reach USD 2.58 billion by the end of 2024. Atrazine Industry is one of the mostly widely used herbicides for effective, affordable, and safe weed control. It is used on a variety of crops including corn, sugarcane, sorghum, wheat, summer fallow, forestry or woodlands, conifers, Christmas tree, and residential and recreational turf (parks, golf courses). The use of atrazine helps to reduce soil erosion by 65-95% and enables farmers to grow crops with high productivity. The quality of water in rivers and streams is significantly improved due to the reduced soil erosion and fertilizer runoff.

Competitive Analysis

The prominent players in the global atrazine market are Syngenta (Switzerland), Sipcam Agro USA (US), ADAMA (US), Zagro (Singapore), Nufarm Ltd (New Zealand), Zhejiang Zhongshan Chemical Industry Group Co. Ltd (China), Shandong Weifang Rainbow Chemical Co. Ltd (China), FMC Corporation (US), and Rallis India Limited (India).

Market Segmentation

The global atrazine market has been segregated based on crop type, method of application, and region.

By crop type, the global atrazine market has been segmented as cereals, sugar crops, oil-bearing crops, and others. The cereals segment is further divided into maize, sorghum, wheat, and others. The oil-bearing crops segmented is further sub-segmented into soybeans, oil palm, and others. The cereals segment is expected to be the leading crop type segment during the forecast period. Atrazine is the most widely used herbicide for corn cultivation. Corn is mainly utilized for food, feed, industrial uses, and ethanol production. Due to increasing demand for corn in the applications leads, there has been a rising concern for increasing the crop productivity. This is expected to be the key factor boosting demand for atrazine and drive market growth during the review period.

Regional Analysis

Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five key regions studied for the global atrazine market. North America held the largest share of this market in 2017. Largescale consumption of the product for post-emergence weed control in corn farms and focused sustainable farming activities are the prominent factors driving growth of the regional market. Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period. Increasing use of atrazine in cultivation of maize and sugarcane and rising food consumption are expected to be the key factors fueling growth of this market.

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The other significant regional market for atrazine is Latin America. Consistent growth of the agricultural sector in the agrarian economies of Latin America is expected to boost demand for the product in the years to follow.

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