Current Trends in Europe Frozen Bakery Products Market Market 2016- Asia Pacific Penoxsulam Market

Asia Pacific Penoxsulam Market By Crop Type rice,
Aquatics And Others
The Asia Pacific Penoxsulam Market was worth USD 161.99 million in 2016 and estimated to be growing
at a CAGR of 5.80%, to reach USD 214.74 million by 2021.
Penoxsulam is a chemical compound having the chemical formula C16H14F5N5O5S with molecular mass
of 483.37 g/mol. It is used in agricultural field as rice herbicide.
It can be used in both terrestrial and aqueous environments and it has an excellent ability of protecting
the crops against weed without harming any fauna. These are the factors which encourage farmers to use
this herbicide. Penoxsulam is highly effective against various types of weeds.
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High efficiency of Penoxsulam compared to other kinds of pesticides, rising demand of rice because of it
being the staple food and increasing demand of well-maintained lawns in commercial and residential
buildings are some of the factors driving this market. Besides these, increasing number of golf courts and
sports grounds is also driving this market, substantially.
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The Asia-Pacific Penoxsulam market is segmented on the basis of crop type. It is segmented into Rice,
Aquatics and other type of crops. As the Asia-Pacific demand for food is increasing because of increasing
population. Being a staple food, demand of rice has increased the most, which has led to the increased
demand of Penoxsulam pesticide. As a result, rice fields have emerged as the leading segment for demand
of Penoxsulam herbicide accounting for almost 85% of the Asia-Pacific market.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin
America and Middle-East & Africa. In 2016, Asia-Pacific had the biggest Penoxsulam market accounting
for almost 55% of Asia-Pacific market share. India and China alone in Asia-Pacific account for more than
50% of the share of Asia-Pacific market. Asia-Pacific also has the fastest growing rate in this market
because of the fact that livelihood of a major population of the two biggest democracies in this region,
viz. India and China depend on farming.
This market is extremely disjointed with numerous big and developing players operating in the business.
The major companies dominating the Asia-Pacific Penoxsulam market are Dow Chemical Co., Bayer
CropScience AG, Syngenta International AG, Chemtura Corp., Monsanto Co., Nufarm Ltd., Shijiazhuang
Xingbai Bioengineering Co. and BASF SE.
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