Global Isoxaflutole Market: Snapshot
Rise in the global herbicide industry has been a driving force for global isoxaflutole market. Isoxaflutole, an herbicide is used to enhance the growth of vegetables in agrochemical industry. The active ingredient in it quickly get metabolized in the soil and react on the plants likewise. Sugarcane and maize/corn are the two major crops for which Isoxaflutole is used. Whereas, it is also used on fruit crops such as peach, almond, apple, etc. Even though the manufacturing of sugarcane is related to various ecological and communal factors, its production has widely increased because of the progress in domiciliary support measures along with a well regulated trade. These factors have contributed to the growth in demand for isoxaflutole herbicide for the production and growth of plants.
CAGR of global isoxaflutole market is expected to grow at 5.1% by 2020. The evaluated market value for Isoxaflutole business is estimated reach US$163.0 million by 2020.
High Demand for Isoxaflutole for the Cultivation of Vegetable Crops
It is worth noting that maize/corn and sugarcane are the only two harvest apart from some of the fruit crops. So, the demand for isoxaflutole has always been high for vegetable crops. These crops are considered as one of the most prominent and efficient sources of bio-fuel. Due to hike in prices for oils the market for biofuels has expanded significantly that has encouraged the demand for sugarcane. This in a way has uplifted the requirement for herbicides such as isoxaflutole. China and the U.S. are the two major producers of corn. Isoxaflutole is also being used for the enhancement of fruit crops such as apple, peach, almond, etc. where it is used as a catalyst in the growth mechanism. It is to be noted that U.S.A. holds the largest contribution in the production of almonds, where isoxaflutole is widely used.
North America, the Highest Consumer of Isoxaflutole, with 40% of Global Corn Production
In case of geographical regions, Asia Pacific accounts for more than 30% of isoxaflutole market share in terms of volume. This is so as the major crops which requires isoxaflutole such as corn and sugarcane are cultivated in large quantities in this region. Moreover, there is a growth in the sugarcane production in this region because of the rise in the demands of biofuels by the major end-user industries has also increased. North America accounts for more than 40% of the global corn production. Therefore, the region has emerged as the highest consumer of the isoxaflutole for crops such as maize and sugarcane. These crops also holds the high demand for isoxaflutole in Europe. The various applications of maize includes food, feed, ethanol production, and industrial purposes. This answers the reason behind the growth in maize industry over the past decade or so. Corn crops are also responsible for the production of ethanol, which turns out to be major reason for the demand for corn in the regions such as Asia Pacific. Besides this, emerging countries like India and China are significant consumers of meat, which in a way is responsible for the growth of corn industry as corn is the major part of the feed given to livestock. So, the requirement of isoxaflutole also depends on the number of animals consuming corn as their feed.
Aventis CropScience are the first producers of isoxaflutole in 1991. This company was later taken over by Bayer in 2001. Even today the global market is still in formative state where DuPont and CropScience are the key isoxaflutole producers. Other significant leaders in the market includes Santa Cruz Biotechnology Ltd., Wanko Chemical Co. Ltd., and Chemos GmbH. Moreover, isoxaflutole market is anticipated to witness mergers because of the advent of local producers in the U.S. and China.
Isoxaflutole is an herbicide mostly used on vegetable crops for growth enhancement in the agrochemical industry. Vegetable crops which consume isoxaflutole herbicide include maize/corn and sugarcane. Other than vegetable crops, isoxaflutole is also used in the growth mechanism of fruits such as almond and tangerine.
This report provides detailed analysis and forecast of the isoxaflutole market on a global and regional level from 2014 to 2020. On the global level, the market has been segmented based on revenue (US$ Mn) and volume (Tons) from 2014 to 2020. For in-depth understanding of the market at the regional level, demand has been forecast in terms of revenue (US$ Mn) and volume (Tons) from 2014 to 2020.
The market has been segmented based on type of crops using isoxaflutole. Each segment has been analyzed and forecast based on revenue (US$ Mn) and volume (Tons) from 2014 to 2020. Additionally, the segments have been analyzed and forecast based on current trends at the global and regional level in the given time period. Geographically, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Demand has been analyzed and forecast based on current trends for a period of six years.
Profiles of companies such as Bayer CropScience, and E. I. du Pont de Nemours and Company have been provided in the report.
Inflation is not a part of pricing in this report. This report provides the market size of the isoxaflutole market for 2013, and forecast for the next six years, from 2014 to 2020. The global market size of isoxaflutole is given in terms of volume and revenue. Market volumes and revenues have been estimated and forecast in Tons and US$ Mn. Market numbers are estimated based on various crop types using isoxaflutole. Market size and forecast for each segment is provided in the context of the global as well as regional markets.
We conducted in-depth interviews and discussions with numerous key industry participants and opinion leaders for the research report. Primary research represents the bulk of the research efforts coupled with an extensive secondary research. We reviewed key players’ annual reports, product portfolio, press releases, and relevant documents for competitive analyses and better understanding of the market. Secondary research includes in-depth research on current trends, technical writing, recent trades, internet sources, trade associations, and statistical data from government websites and associated, authorized agency websites. This proved to be the most successful, effective, and reliable approach for obtaining concise data, capturing industry participants’ insights, and recognizing opportunities and growth.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings. It also includes internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports. News articles, press releases, and web-casts specific to the companies operating in the market also serve as a part of secondary sources.
We conduct primary interviews on an on-going basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills various functions. First-hand information is obtained on the market size, market trends, growth trends, competitive landscape, outlook, etc. It also helps in validating and strengthening the secondary research findings, and further develops the analysis team’s expertise and market understanding. The primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.
Isoxaflutole Market - Crop Segment Analysis
- Vegetable crops
- Others (Including fruits)
Isoxaflutole Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)