Northern America: Herbicide Market 2024

Herbicide Market Size in Northern America

The North American herbicide market was estimated at $X in 2021, picking up by 11% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Herbicide Production in Northern America

In value terms, herbicide production rose markedly to $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.6% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 35% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Herbicide Exports

Exports in Northern America

In 2021, the amount of herbicides exported in Northern America dropped modestly to X tons, waning by -4.3% against the year before. Overall, exports saw a slight curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 26% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, herbicide exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 28%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States dominates exports structure, finishing at X tons, which was near 97% of total exports in 2021. Canada (X tons) followed a long way behind the leaders.

Exports from the United States decreased at an average annual rate of -1.1% from 2012 to 2021. Canada experienced a relatively flat trend pattern. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest herbicide supplier in Northern America, comprising 97% of total exports. The second position in the ranking was held by Canada ($X), with a 2.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled +1.3%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, rising by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2018 when the export price increased by 15%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.4%).

Herbicide Imports

Imports in Northern America

In 2021, overseas purchases of herbicides increased by 9.7% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 24% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, herbicide imports amounted to $X in 2021. The total import value increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 23%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Canada was the key importing country with an import of about X tons, which recorded 69% of total imports. It was distantly followed by the United States (X tons), creating a 31% share of total imports.

Imports into Canada increased at an average annual rate of +1.5% from 2012 to 2021. At the same time, the United States (+6.3%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing importer imported in Northern America, with a CAGR of +6.3% from 2012-2021. The United States (+8.1 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -8.1% from 2012 to 2021, respectively.

In value terms, Canada ($X) and the United States ($X) were the countries with the highest levels of imports in 2021.

In terms of the main importing countries, the United States, with a CAGR of +4.0%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, flattening at the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2014 when the import price increased by 14% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.5%).

Source: IndexBox Platform

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