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Glufosinate Market to Reach $2,097 Million, Globally, by 2022 - Allied Market Research


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Allied Market Research

18 Aug, 2016, 13:30 GMT

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PORTLAND, Oregon, August 18, 2016 /PRNewswire/ --

According to a new report by Allied Market Research, titled, "Glufosinate Market - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", 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.

     (Logo: http://photos.prnewswire.com/prnh/20140911/647229 )

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.

Sample of the Glufosinate Market Report can be accessed on Website: https://www.alliedmarketresearch.com/glufosinate-market

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 of the study  

  • 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.

Similar Reports Published by Allied Market Research -  

Seed Treatment Market - High investment for GM seed and consumers preference towards the consumption of chemical free food in the developed economies such as North America and Europe are fuelling increased demand for seed treatment, particularly bio-control seed treatment.

To know more about the seed treatment market report, visit the website at https://www.alliedmarketresearch.com/seed-treatment-market

Herbicides Market - Among different crop types, herbicide usage is highest in cereals & grains (namely maize, rice, wheat and others). Asia-Pacific region (Mainly China, India and Japan) being the major production hub of cereals & grains, consumes nearly three fourth of total herbicide consumption in this category.

To know more about the herbicides market report, visit the website at https://www.alliedmarketresearch.com/herbicides-market

About Us: 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
Sona Padmanabhan
5933 NE Win Sivers Drive
#205, Portland, OR97220
United States
Direct: +1-503-894-6022
Toll Free: +1-800-792-5285 (U.S. &Canada)
Fax: +1(855)550-5975
E-mail: sales@alliedmarketresearch.com


Web: https://www.alliedmarketresearch.com/

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