Isoxaflutole Market Demand, Trends, Analysis, Application & Type Forecast to 2020

A new report has been published by Transparency Market Research titled “Isoxaflutole Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”. TMR, a market intelligence company based in the United States, says in its report that the isoxaflutole market was valued at US$ 116.3 million in 2013 and is expected to reach US$ 163.0 million by 2020, expanding at a CAGR of 5.1% from 2014 to 2020. In terms of revenue, the global isoxaflutole market stood at 2569.5 kilo tons in 2013. Isoxaflutole originated in 1996 under the distinctive label of Balance by Rhône-Poulenc Ag Company. The company entrenched its chemicals business division as an independent company named Rhodia in the year 1997 and it was purchased by Solvay SA in 2011. According to this report, isoxaflutole is extensively used in the production of vegetable crops such as sugarcane and maize.

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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.

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