PGR market to hit $5,936.2 million in 2019

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article

According to a new report published by Transparency Market Research, "Plant Growth Regulators (Cytokinins, Auxins and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global demand for plant growth regulators was valued at $3,360.0 million in 2012 and is expected to reach $5,936.2 million in 2019, growing at a CAGR of 8.5 percent from 2013 to 2019.

Factors such as increasing demand for plant growth regulators for manufacturing cotton with the growth of the textile industry, and increasing organic farming owing to augmenting demand for organic food is expected to fuel the demand for the plant growth regulators over the forecast period. Increasing globalization coupled with the demand for growing profitability has in many aspects, forced the agrochemical industry into major restructuring, where companies are focusing towards developing innovative and less threatening crop protection products such as plant growth regulators. Rising preference of farmers towards other agrochemicals such as fertilizers is expected to hamper the growth of the market. Focus towards developing cost effective and eco-friendly plant growth regulators is expected to provide new opportunities for the market.

In 2012, cytokinins accounted for more than 40 percent of the market share. Cytokinins are also expected to witness the fastest growth over the forecast period as demand for these plant hormones has been the highest due to increasing demand for medicinal plants with the growth of the herbal medicine industry. Auxins were the second largest product segment in the PGR industry owing to their ability to enhance the growth characteristics and productivity of many plants such as cotton. Demand for other plant hormones such as mepiquat chloride and gibberellins in cotton are also expected to increase noticeably with the growth of the textile industry.

Demand for plant growth regulators was highest in Europe due to the growing consumer demand for organic food and major shift of agriculturists towards eco-friendly and cost effective agrochemical products. Demand for plant growth regulators in Asia Pacific is expected to witness the fastest growth, growing at a CAGR of 9.2% from 2013 to 2019. Emerging economies in Asia Pacific such as China and India are anticipated to dominate the market owing to the large demand for plant hormones in cotton production for its use in textile industry.


Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...


Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


Grain Storage Systems

Behlen Grain Storage Systems offers large capacity bins with diameters from 16’ to 157’ and capacities exceeding 1,500,000 bushels. All ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form