Global Plant Growth Regulators Market is anticipated to reach USD 6.52 billion by 2020. The market is anticipated to grow at a healthy rate in the years to come. Plant growth regulators require a wide-ranging acceptance in the alteration of plant physiology that comprises inhibiting or stimulating enzyme systems and regulating the plant metabolism. Plant growth regulators also seek healthy demand for the regulation of cotton metabolism.
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Key Players:
Some of the key players that fuel
the growth of the plant growth regulators industry include DuPont, BASF
SE,NuFarm Ltd., Bayer Crop Science Crop Care Australasia Pty. Ltd, Sichuan
Guoguang Agrochemical Co. Ltd,Xinyi(H.K.) Industrial Co. Ltd, and Redox Industries
Limited.
Growth Drivers:
On the other hand, there are also
factors that may hamper the growth of the market such as less innovation
regarding products, and low productivity of PGR as compared to chemical
fertilizers. The plant growth regulators market is anticipated to grow at a significant
CAGR of 8.6% in the upcoming period as the scope, product types, and its
applications are increasing across the globe. Plant growth regulators industry
may be explored by type, crop type, functions, formulations, origin, and
geography. The market may be explored by type as Auxins, Cytokinin’s,
Gibberellins, and Ethylene. The “Cytokinin’s” segment dominated the market in
2016 and is anticipated to maintain its dominance by 2020.
Cytokinin’s are plant hormones
that controlseveral features of plant development such as cell division &
differentiation, shoot & root development, fruit & seed development,
and delay of senescence. They delay the natural aging process that leads to
death in plants. Furthermore, it is mainly used to fix the injured part of a
plant will upsurge the growth of market.
Plant growth regulators market
may be explored by crop type as Cereals & Grains, Fruits & Vegetables,
Turf & Ornamentals, and Oilseeds & Pulses. The industry may be explored
by Function as Plant Growth Inhibitors, and Plant Growth Promoters. The “Plant
Growth Promoters” held the highest share of the plant growth regulators
industry in 2016 and are anticipated to maintain their dominance by 2020. The
most dominant plant growth promoters comprise cytokinin’s, auxins, and
gibberellins. They help in development during root initiation, flowering,
overall rise in yield and fruiting of the plant. The plant growth promoters are
mostly used in several fruit and vegetables to enhance flowering.
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