BISPYRIBAC SODIUM MARKET ANALYSIS

Bispyribac Sodium MarketSize and Trends

Market Dynamics:

• 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.

Market Outlook:

• 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.