Global Isoxaflutole Market to Benefit from the Increasing Production of Vegetable Crops in Emerging Countries: Transparency Market Research
By Business Wire News
The latest research report from Transparency Market Research states that the global isoxaflutole market will grow at a steady CAGR of 5.1% during the forecast period of 2014 to 2020. The market was worth US$116.3 million in 2013 and is estimated to be worth US$163.0 million by 2020. In terms of volume, the global market for isoxaflutole was noted at 2,569.5 kilo tons in 2013. The research study is titled “Isoxaflutole Market for Vegetables and Other Crops – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”.
Isoxaflutole is widely used as an herbicide to grow vegetable crops such as maize and sugarcane. Emerging countries in Asia Pacific and Latin America tend to produce massive volumes of such crops. This is the key trend driving the global isoxaflutole market.
Demand for corn in emerging regions is primarily driven by growing ethanol production. The global demand for isoxaflutole was led by Asia Pacific, which accounted for over 30% of the overall demand in 2013. Furthermore, demand for isoxaflutole in vegetable farms made up a massive 90% of the market in 2013.
Growing M&As is a prominent trend shaping the global isoxaflutole market. The top two companies operating in this market are E.I. du Pont de Nemours and Company and Bayer CropScience. Bayer produces isoxaflutole under the brand Merline and Balance. In 1996, isoxaflutole was introduced by Rhone-Poulenc Ag Company under the brand name of Balance.
In 1997, the company established its chemicals business segment as a separate unit called Rhodia. This firm was later acquired in 2011 by Solvay SA. Further, the agricultural business sector of Rhone-Poulenc Ag Company (also called Aventis CropScience) was acquired by Bayer AG.
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About Transparency Market Research
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.