PUBLISHER: The Business Research Company | PRODUCT CODE: 1596986
PUBLISHER: The Business Research Company | PRODUCT CODE: 1596986
Atrazine is a synthetic herbicide widely used for controlling weeds in crops, especially corn and sugarcane. It functions by inhibiting photosynthesis in plants, thereby stunting their growth. While atrazine is effective, it has raised environmental and health concerns, prompting regulations in certain regions regarding its usage and potential impacts on water sources.
The primary forms of atrazine include liquid, dry, and other types. Liquid atrazine is preferred in large-scale agriculture due to its ease of mixing, uniform application, and rapid weed control, particularly in row crops such as corn and sugarcane. It is available for various crop types, including cereals, corn, sugar crops, sorghum, and wheat. Distribution occurs through several channels such as e-commerce, specialty stores, hypermarkets, and supermarkets. Atrazine can be applied using different methods, including surface application, herbigation, and foliar application, and is utilized at various stages, such as pre-plant, pre-emergence, and post-emergence.
The atrazine market research report is one of a series of new reports from The Business Research Company that provides atrazine market statistics, including atrazine industry global market size, regional shares, competitors with atrazine market share, detailed atrazine market segments, market trends, and opportunities, and any further data you may need to thrive in the atrazine industry. This atrazine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The atrazine market size has grown strongly in recent years. It will grow from $1.58 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The increase during the historical period can be linked to heightened worries about improving crop yields, the swift growth and expansion of the agricultural sector, a rising interest in sustainable farming practices, the extension of agriculture into less fertile areas, and an escalating demand for herbicides.
The atrazine market size is expected to see strong growth in the next few years. It will grow to $2.29 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth during the forecast period is driven by the rising demand for greater crop yields, the growing use of atrazine-based products, increasing food consumption, the expansion of agriculture in developing economies, and a surge in investments for research and development of alternative weed control methods. Key trends expected in this period include heightened research and development efforts aimed at creating eco-friendly herbicides, a growing shift toward bio-based and organic herbicides, the adoption of precision agriculture technologies, the integration of digital agriculture solutions, and advancements in herbicide formulations.
The increasing demand for higher crop yields is anticipated to drive the growth of the atrazine market in the future. Enhanced crop yields reflect greater production per unit of land, which is essential for improving food security, increasing farm profitability, and meeting global food demands. Several factors are contributing to this rising demand, including population growth, climate change, and concerns about food security. Atrazine plays a significant role in boosting crop yields by effectively controlling a variety of weeds, which minimizes competition for essential resources such as water, nutrients, and light. This, in turn, promotes healthier crop growth and improves overall productivity. For example, the Central Statistics Office in Ireland reported in April 2023 that in 2022, wheat yields increased by 0.1 metric tons per hectare, and production rose by 57,600 tonnes compared to June 2021. Consequently, the demand for higher crop yields is propelling the atrazine market's expansion.
Leading companies in the atrazine market are concentrating on creating innovative products, such as post-emergent herbicides, to enhance weed control efficiency and improve crop safety. Post-emergent herbicides are applied after weeds have emerged and target critical processes such as protein synthesis or photosynthesis. These herbicides are often used in conjunction with pre-emergent herbicides for effective, season-long weed management. For instance, in March 2022, BASF SE, a Germany-based chemical company, launched Vesnit Complete, a post-emergent herbicide designed for sugarcane. This product effectively targets both grasses and broadleaf weeds in sugarcane and corn fields. It utilizes two distinct modes of action, integrating Topramezone and Atrazine for prolonged weed control. Additionally, the herbicide includes an inbuilt adjuvant to enhance its performance, ensuring effective application while protecting the sugarcane crop. Vesnit Complete reliably combats common weeds such as Echinochloa spp., Digitaria sanguinalis, and Amaranthus viridis, providing a robust solution for increasing crop yield.
In March 2023, Albaugh LLC, a US-based manufacturer of agricultural crop protection products, acquired Corteva Agriscience for an undisclosed amount. This acquisition aims to expand Albaugh's global presence in glyphosate DMA salt formulations and registrations, enhance its market reach in previously underrepresented regions, and strengthen its glyphosate offerings in key markets, including the U.S., Canada, and Brazil. Corteva Agriscience is a US-based agricultural chemical company known for producing atrazine-based herbicides.
Major companies operating in the atrazine market are BASF SE, Adama Agricultural Solutions Ltd., UPL Limited, AMVAC Chemical Corporation, Rallis India Limited, Drexel Chemical Company, HPM Chemicals and Fertilizers Ltd., Albaugh LLC, Ram Shree Chemicals, Krishi Rasayan Exports Private Limited, Sipcam Agro USA Inc., Zhejiang Zhongshan Chemical Industry Group Co. Ltd., Peptech Biosciences Ltd., Bharat Certis AgriScience Ltd., CANARY AGRO CHEMICALS PRIVATE LIMITED, Kalyani Industries Limited, Kenvos Group, Parijat Industries (India) Pvt. Ltd., Zagro Corporation, Saraswati Agro Life Science, Shanghai Skyblue Chemical Co. Ltd.
North America was the largest region in the atrazine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the atrazine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the atrazine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The atrazine market consists of sales of atrazine granules, atrazine suspended concentrate, atrazine wettable powders, and pre-mixed solutions. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Atrazine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on atrazine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for atrazine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The atrazine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.