By the end of 2024, the market could be valued at a US$ 597.57 Mn, rising from a US$ 280.69 Mn valuation attained in 2017. It reached a production of 8,489 MT in 2017.
Global Glufosinate Ammonium Market: Drivers
Rise of the agrochemicals industry
Milder impact of bio-based varieties on the environment
Application in soil treatment and foliar spray
High use in combination with other herbicides
Safe use on crop plants
Global Glufosinate Ammonium Market: Forecast by Product and Application
By product, the global glufosinate ammonium market is classified into 50% TK and 95% TC. By application, it is segmented into desiccant, GM crops, insecticides and fungicides, and herbicides. The report offers deep analysis of each segment mentioned here.
Global Glufosinate Ammonium Market: Forecast by Region
The production of glufosinate ammonium is mainly concentrated in the EU, China, and the U.S. Followed by the U.S., China holds the largest production base in the world. However, the consumption of glufosinate ammonium is largely distributed. As per the study, South America, Northeast Asia, the EU, China, and the U.S. are the key regions and countries in terms of consumption.
The U.S. and China are important export countries for the global glufosinate ammonium market. Both the export and import of glufosinate ammonium is quite frequent in the market.
Global Glufosinate Ammonium Market: Price Analysis
Technology plays a telling role in the pricing and production of glufosinate ammonium. Production capacity and market demand heavily impact the prices in the global glufosinate ammonium market and also cause them to fluctuate.
For many years, the price of glufosinate ammonium stayed on the higher side after Bayer monopolized the global market before 2007. However, there was a significant decrease in the price between 2015 and 2016 due to the skyrocketing production of glufosinate ammonium. The production had increased substantially because of Bayer’s capacity expansion and the entry of Chinese manufacturers.
As evident with 95% TK’s current price of US$ 33,734/MT, the global glufosinate ammonium market warmed back for the past two years due to the unimpressive rise in the demand and capacity expansion. However, the quick pace of growth gives the assurance that the market is still very promising.
Global Glufosinate Ammonium Market: Manufacturing
The manufacturing process is the heart of the competition in the global glufosinate ammonium market. The Grignard-Straker law method is commonly used amongst Chinese manufacturers. It is a lengthy production process that lasts up to 8-13 steps. During production, the manufacturer could expect a large amount of waste generated. The process produces an average yield of 39-42%. The main raw materials used are phosphorus trichloride and triethyl phosphite.
However, Bayer’s production process is more advanced as it involves only three steps and has an average yield of 92%. Here, methyl phosphonic dichloride is mainly used as a raw material.
Global Glufosinate Ammonium Market: Key Players
Zhejiang YongNong and Bayer are among the giant players operating in the global glufosinate ammonium market. The nature of the competitive landscape is studied to be highly concentrated.
Full Report Overview@ https://www.qyresearch.com/index/detail/94077/global-glufosinate-ammonium-market