According to the new report “Plant Growth Regulators (PGR) Market -By type of PGR (Cytokinins, Auxins, Gibberellins, Ethylene/Ethylene Releasers, Mepiquat Chloride); By type of crop (Row Crops, Fruits and Vegetables, Turfs and Ornamentals) and By Region (Americas, Europe, APAC, RoW) and By Geography –With Forecast (2015 – 2020)”
, published by IndustryArc, the market is estimated to reach $1.8 Billion by 2020 at a high CAGR.
Browse 165 Tables, 34 Figures spread through 250 Pages and an in-depth TOC on “Plant Growth Regulators Market (2014 - 2020)”
Plant growth regulators are the plant protection chemicals that control the plant’s growth and development by manipulating its physiological functions. They are used for growth regulation in row crops, fruits and vegetables, turf grass and ornamental plants. Row crops include cereals, grains, pulses, oilseed crops, cotton, sugar cane, tobacco, tea and coffee. Fruits, vegetables, leafy vegetables, roots and tubers comprise the fruits and vegetables segment, whereas floral plants, decorative plants, conifers, deciduous trees, hard and soft wood cuttings constitute the ornamental plants segment. This market is estimated to grow at a moderate CAGR of 4.6% through 2020 to reach $1.8 Billion.
The growth in PGR market is due to the robust demand increasing the yield of food crops to feed the ever-growing world population. In addition to this, the increasing usage of PGRs to meet the cumulative global demand for cotton in the growing textile industry has been considerably driving the global PGR market. Application of PGRs to develop stress tolerance and drought resistance in plants is a new frontier for the usage of PGRs.
The PGR market faces challenges in terms of investments as the industry is highly capital intensive and requires a great level of technical expertise. There is a high risk of failure to develop new PGRs and it involves laborious and time consuming testing procedures to check for product efficiency. Alternative technologies such as advanced genetic manipulation in plants pose mild threat to the future of PGRs, but then again they can never completely eradicate the requirement for chemical PGRs. The overall market is also presented from the perspective of different geographic regions and the key countries for this industry.
The Major Players in this Market Include
- Syngenta AG
- BASF SE
- Bayer CropScience AG
- Nufarm Ltd.
- FMC Corporation
These key players together hold major share in the global PGR market. Companies intend to launch new products in various countries by making collaborative partnerships to extend product distribution reach across regions.
Various end-use applications included in the report are:
- Plant Growth Regulators Manufacturing Companies
- Research Institutes
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