Plant growth regulators, also known as plant hormones are chemicals occurring in low concentrations, which promote plant growth by increasing the supply or availability of primary nutrients to the plant. Various plant growth regulators such as cytokinins, auxins, and mepiquat chloride are used in certain agriculture and pharmaceutical applications.
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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.
Growing profitability concern for farmers have forced them to opt new methods such as organic farming and use of agrochemicals for ensuring crop protection and reducing costs. Growing organic farming activities coupled with growing profitability concerns among farmers is expected to have a positive impact on the plant growth regulators market over the forecast period. Long-term market presence of fertilizers is expected to significantly hamper the plant growth regulators demand over the next six years. Stringent regulations intended for pesticides are also expected to restrict market growth and are expected to shift the focus towards cost-effective and bio-based alternatives.
Profiles of leading companies have been covered in this report along with a detailed analysis of their market share. The study profiles companies such as BASF, Bayer CropScience, Crop Care Limited, DuPont, NuFarm Limited, Redox Industries Ltd, and Sichuan Guoguang Agrochemical Co., Ltd.
