Published on : Jan 20, 2020
Ethylene refers to a hydrocarbon, which is a flammable and colorless gas. It comes with a very faint musky and sweet fragrance when it is in its pure form. It is the simplest form of alkene. Ethylene is extensively utilized in the chemical industry in various applications. The production of Ethylene is huge and it exceeds the production volume of any other organic compound. Ethylene is also a significant plant hormone, which is utilized for the purpose of ripening fruits forcefully.
The global ethylene releasing compounds market is primarily driven by its increasing demand from the food and beverage industry. Rapid growth of the food and beverage industry is likely to accelerate the demand for ethylene releasing compounds.
ADAMA Agricultural Solutions, DuPont de Nemours, Inc., Canary Agro Chemicals Private Limited, The Monsanto Company, JRPL Agro Chemicals, and Jiangsu Anpon Electrochemical are some of the prominent names in the global ethylene releasing compounds market.
Type, application, and region are the parameters based on which the global ethylene releasing compounds market has been segmented to provide a comprehensive view of the market.
Growing Demand for Ripening of Fruits to Bolster Demand in the Market
Ethylene releasing compounds refers to those compounds that release ethylene when it is sprayed on plants. Ethylene releasing compounds have obtained substantial economic significant of late. It is utilized in the acceleration of diverse ethylene responses like fruit abscission, pod dehiscence, induction of flowering, leaf and branchlet abscission, and fruit ripening. Utilization of these compounds in such diverse applications across the food and agriculture industry is expected to offer ample growth opportunities for the global ethylene releasing compounds market.
Ethephon is a type of ethylene releasing compound, which is used as a regulator of plant growth. It is utilized in flower induction, abscission, promotion of fruit ripening, and various other responses. This ethylene releasing compound has been registered for use in a number for food products. In addition, it is also permitted for use in outdoor ornamental plants, greenhouse nursery stock, and food and non-food crops. It also finds wide use in cotton cultivation.
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Demand for specific colors in specific fruits, such as red for apple, yellow for pineapple are anticipated to generate demand for the product. Strict norms pertaining to the quality of agricultural products and color of various fruits are implemented. These norms are meant to ensure the quality of the product and are likely to offer substantial scope of growth for the global ethylene releasing compounds market.
Rapid growth of the textile industry is generating demand for cotton. Rising disposable income of people in many of the developing parts of the world has created demand for premium, fashionable clothing products. Demand for increased clothing products is likely to generate scope of growth for the global ethylene releasing compounds market.
On the other hand, fluctuating price of the raw materials is prophesized to obstruct the growth of the market in forthcoming years. Relentless technological progress in the agricultural field has produced several alternatives, which is likely to restrain growth of the market in forthcoming years.
Asia Pacific Driven China is estimated to Remain at the Forefront of Market Growth
To enable better understanding of the market, the global ethylene releasing compounds market have been split into the regions of Latin America, Middle East and Africa, North America, Europe, and Asia Pacific.
Of all these regions, Asia Pacific is expected to hold lion’s share of the global ethylene releasing compounds market owing to high production of the product in China. Some of the leading market players, such as Anpon Electrochemical are situated in China, which further adds to the growth of the regional market.