World
Glufosinate Market the glufosinate market is projected to reach $2,097 million
by 2022. The oilseeds & pulses application segment held about one-fourth
share of the overall market in 2015.
The
demand for glufosinate herbicides has witnessed tremendous growth driven by the
development of genetically modified glufosinate-tolerant crops. In the last
five years, significant capacity expansion has been witnessed in the industry
and this trend is expected to continue in the future as well. Bayer CropScience
is the largest producer of glufosinate and intends to expand its capacity to
almost twofold by end of 2017, owing to strong demand from regions such as
North America and Asia-Pacific. Similarly, the Chinese companies such as Lier
Chemical Company Ltd., Inner Mongolia Jiaruimi Fine Chemical Co., Ltd., and
others are also expanding to meet the growing demand for glufosinate.
Currently, there are about five major synthesis process for glufosinate.
However, the number of producers in the industry are limited due to high
technological barriers in its commercial production.
In
the year 2015, cereals & grains was the fastest growing segment with a CAGR
of 19.4% followed by oilseeds & pulses and other crop segment (including
tea, coffee, cotton, forestry, tobacco, turf, and spices). Penetration of
glufosinate is rising significantly in cereals & grains owing to its broad
weed spectrum, high efficacy, and wide commercialization of genetically modified
glufosinate tolerant crops globally.
The
soluble (liquid) concentrate segment occupied more than half of the share in
2015 and is expected to maintain its lead throughout the forecast period.
Presence of amine (ammonium salt) or mineral salt in the molecules of
formulation enables water solubility which makes it most preferred in the
glufosinate industry. Other major formulation types used in the industry are
aqueous suspension, liquid, and suspension concentrate.
Key findings
- Cereals & grains is expected to be the fastest growing segment with a CAGR of 19.4% during the analysis period.
- North America is anticipated to lead throughout 2022, growing at a CAGR of 20% from 2016 to 2022.
- Asia-Pacific is projected to be the fastest growing segment.
- In the year 2015, the soluble (liquid) concentrate was the most widely accepted formulation type and is expected to maintain its lead in the future.
- U.S. was the leading country in the world glufosinate market in 2015, and is anticipated to maintain its dominance.
In
the year 2015, North America and Asia-Pacific collectively accounted for nearly
two-thirds of the worldwide demand for glufosinate and are expected to maintain
their lead position throughout the period under consideration. However,
Asia-Pacific is projected to be the fastest growing segment, with a CAGR of
21.4%, followed by North America. Growing concern towards wide usage of
agrochemicals in various crops, which has led to a shift toward bio-based
solutions, is the driving factor for glufosinate herbicides demand in all the
regions.
In
this industry, all the major players are expanding to meet their growing demand
for glufosinate in North America and other developing regions. The major
companies profiled in the report include Bayer CropScience, Lier Chemical
Company Ltd., Zhejiang Yongnong Chem. Ind. Co., Ltd., Hebei Veyong Bio-chemical
Co., Ltd., UPL Ltd., Jiangsu Huangma Agrochemicals Co., Ltd., Inner Mongolia
Jiaruimi Fine Chemical Co., Ltd., Hebei Bestar Bio-Technology Co., Ltd., and
Jiangsu Sevencontinent Green Chemical Co., Ltd.
For
more information Visit at: http://mrr.cm/JEg
Find all Specialty Chemicals
Reports at - http://www.marketresearchreports.com/specialty-chemicals
No comments:
Post a Comment