Global Glufosinate Market to Reach $2,097 Million, by 2022

Date: 2016-09-21

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.

Read Full Report:

Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample