The herbicide safeners market is projected to reach USD 1,206.7 million by 2023, growing at a CAGR of 7.22% from 2018. The growing global food demand has led to an increased need for efficient herbicides. Herbicide safeners protect the main crops against the harsh chemicals of herbicides. Thus, with increased demand for herbicides, the demand for herbicide safeners is also estimated to increase during the forecast period.
The North American market accounted for the largest share in 2017, due to the availability of safeners in commonly used herbicide formulations such as S-metalochlor and acetochlor from players such as DowDuPont (US), Syngenta (Switzerland), and Bayer (Germany). Moreover, these companies have been able to develop and introduce safeners in these regions for herbicide applications in corn and soybean crops.
The market for herbicide safeners in the Asia Pacific region is projected to grow at the highest CAGR from 2018 to 2023, owing to the increasing demand for pesticides in the cultivation of crops such as rice, corn, and soybean in the region, which has been significant growth in the past five years. Thus, with increasing use of pesticides, including herbicides, the demand for products such as adjuvants and safeners, which can improve the efficiency of pesticides and reduce environmental risks, is expected to increase during the forecast period.
Leading companies are DowDuPont (US), BASF (Germany), Bayer (Germany), Nufarm (Australia), ADAMA (Israel), Syngenta (Switzerland), Arysta LifeScience (US), Drexel Chemical Company (US), Land O’Lakes (US), Sipcam-Oxon (Italy), Helm AG (Germany), and Tenkoz (US).