The
competitive landscape of the global plant growth regulators market
presents a contradictory picture. Despite a handful of dominant
players having a sway over the market, competition nonetheless is
stiff. The strong competition among them on the basis of better
products, cost, and quality is constantly reshaping the dynamics of
the global plant growth regulators market. They are seen growing
their production facilities to satisfy the demand in the market.
Dow
Chemical Company, WinField Solutions, Valent Bioscience Corporation,
Syngenta AG, Nufarm Limited, Xinyi Industrial Co., Ltd., Somitomo
Chemicals Company LTD, BASF SE, Bayer Cropscience, and FMC
Corporation are to name a few of such dominant players having a
stronghold over the global plant growth regulators market.
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Market Research’s report on the global plant growth regulators
market finds that it would attain a value of US$ 3,000 Mn revenue by
the end of 2026.
There
are different types of hormones deployed in the global plant growth
regulators market. Among those, cytokinins are leading with respect
to revenue generation. This is because of their increasing usage as
key phytohormones for bringing about cell division in the plant roots
and shoots, alongside bettering dormancy, fruiting, cell enlargement,
and flowering. Besides, cytokinins are much in demand in different
industrial sectors such as cosmetics, pharmaceuticals, and
biomedicines. Geographically, Europe is a key region in the global
plant growth regulator market where large tracts of land are devoted
to organic farming.
Plant
growth regulators find application in modifying physiological
processes in plants. Those include metabolism or stimulation or
control of enzyme systems. The global plant
growth regulator market is seeing rising demand because of
the pressing need to protect crops in the face of rising demand for
food worldwide. Elaborates the lead analyst of the TMR report, “In
order to protect crops and also lessen production costs, farmers all
over the world are increasingly adopting new methods involving the
use of organic farming and agrochemicals. This is providing a good
boost to the global plant growth regulators market which helps to
increase the profitability in organic farming.”
The
cotton industry is one of the major drivers of the global plant
growth regulators market since the products find usage in regulating
cotton metabolism. “A burgeoning textile industry in nations of
Germany, Turkey, India, Bulgaria, and China is driving up demand for
cotton, thereby benefitting the plant growth regulators market,”
adds our in-house expert.
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