Florasulam Market Size, Forecast - 2031 | 92 Pages Report

Pharmacy benefit management market

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The global florasulam market size was USD 320.9 million in 2021 and is expected to reach USD 902.52 million in 2031, exhibiting a CAGR of 10.9% during the forecast period.

The chemical formula for florasulam is C12H8F3N5O3S, and its products are often prepared as liquid concentrates or wettable granules that can be sprayed on foliage or disseminated in water in the field. Among the cereal crops that can be treated with florasulam are wheat, barley, oats, rye, and triticale.

The two main causes driving the global market are the changing climatic conditions, the shrinking amount of arable land, and the rising food demand. In spite of several government regulations limiting the use of herbicides, integrated pest management is opening the door for pest control without endangering the environment. Herbicide producers now have a fantastic opportunity to take advantage of the market's potential.

The sudden rise in CAGR is attributable to the florasulam market growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with florasulam experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Beginning in 2020, the COVID-19 disease started to spread over the world, infecting millions of people. The majority of nations around the world have now enacted restrictions and work stoppage orders. Most industries, including Florasulam businesses, have been severely impacted, with the exception of the medical supply and life support goods industries. The severe COVID-19 epidemic situation that is currently in place around the world presents a number of difficulties, including a delay in work resumption or even a suspension of production, delayed logistics, a shortage of raw materials, and limited import and export activities. These difficulties present an unprecedented challenge to herbicide manufacturer’s ability to respond in an emergency.

"Weeding Composition to Develop Market Growth "

The weeding composition of the invention is constituted of a compound (A) called florasulam and a compound (B) called clodinafop-propargyl. The invention also relates to a method of preparing this weeding composition and its use. By using modern pesticide preparation processing technology, the weeding composition of the invention, which is obtained based on an appropriate mixing ratio, can be converted into conventional pesticide formulations such as wettable powder, suspension concentrate, and water dispersible granules, and the like. The weeding composition can be used for controlling gramineous weeds and broadleaf weeds in fields. The application of composite herbicide in weeding paddy fields is also disclosed in the invention. The weeding spectrum of the composite herbicide has been increased, and its weeding effect has been improved. It also has quick action, a long duration of action, delayed drug resistance, thorough weeding effect, low residue and toxicity, safety and environmental friendliness, and obvious effect on controlling paddy field gramineous weeds like paddy lolium temulentum, amur foxtail and wartwort, broad-leaved weeds, and cyperaceae weeds

Based on type, the market is classified into TC (99.2%) and TC (95.0%).

On the basis of application, the market is segmented into Herbicide and Synthetic Intermediate.

"R&D Activities on Animal Testing Incites System Demand"

The large toxicological database for florasulam is made up primarily of results from animal toxicity testing. It should be noted that toxicity testing typically utilizes doses that are excessive compared to likely human exposures when interpreting the data. The risk that potentially harmful toxic effects will be found rises with the usage of high doses. Findings of negative consequences in one species may not always imply that similar effects would occur in humans. However, from the standpoint of a conservative risk assessment, until strong evidence of species specificity is available, negative findings in animal species are presumed to represent possible impacts on humans. When extrapolating animal results to anticipated human hazards, considerations of the species-specific causes of unfavorable reactions weigh significantly. The potential human exposure levels must also be contrasted to the typically much higher levels that result in impacts in animal research when evaluating the hazards to human health.

"Increasing Demand for Crop Production to Support Industry Development"

The invention describes a composite herbicide combining florasulam, carfentrazone, and agroxone that falls under the technical category of pesticides. Population growth raises the demand for food. To accommodate the growing population, crop production, farming endeavors, and trade volumes will need to rise. In order to raise crop production, farmers and commercial agricultural firms will also buy more arable land, which is predicted to increase the demand for herbicides and spur florasulam market growth. Herbicide application done correctly in the field has a good effect on crop development, yield quality, and yield quantity. The major factors propelling the growth of the global herbicide industry are the rising food demand around the world and growing public awareness of the advantages of using herbicides before and after crop cultivation. Additionally, the growing use of integrated pest management technology and better farming practices is fueling market expansion.

"Side Effects to Hinder Market Progress "

Herbicides are pesticides that are crop protection compounds that aid in the growth of crops by eradicating or limiting the growth of weeds in the field. However, the development of the herbicide market is being hampered by the installation of strict rules against the use of several herbicides in developed countries.

"R&D Activities to Propel Market Progress in North America"

North America is expected to dominate the florasulam market share The US, Germany, France, Switzerland, and other well-known nations have strict laws against the use of synthetic herbicides because of their cancer-causing properties. Due to these laws, market participants are concentrating on their R&D and launching bioherbicides on the international market, which is opening up a number of potential prospects for the market participants. To commercialize their goods, herbicide manufacturers must adhere to strict regulatory procedures, which presents difficulties for their expansion.

Asia Pacific is anticipated to have a sizable market share. China has the biggest market for crop protection chemicals like herbicides. The majority of herbicides manufactured in China are exported to South Asian developing nations including Pakistan, Bangladesh, and others; in contrast, India has the region's fastest-growing herbicide industry.

The report covers information about the list of market players and their latest development in the industry. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products. The information includes mergers, partnerships, acquisitions, technological developments, and production lines.

This research profiles a report with widespread studies that take into explanation the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.

Market Size Value In

US$ 320.9 Million in 2021

Market Size Value By

US$ 902.52 Million by 2031

Growth Rate

CAGR of 10.9% from 2021 to 2031

Forecast Period

2024-2031

Base Year

2023

Historical Data Available

Yes

Regional Scope

Global

Segments Covered

Type & Application

The global florasulam market is expected to reach USD 902.52million by 2031.

The florasulam market is expected to exhibit a CAGR of 10.9% by 2031.

Drivers of this florasulam market are R&D activities and the increasing demand for crop production.

DuPont, Syngenta, Sino-Agri United Biotechnology, Agrochem Laboratey Center, Nanjing Longxin Chemical, Jiangsu Repont Pesticide Factory are the key companies operating in the florasulam market.