Pinoxaden Market: Snapshot
The evolution drive for pinoxaden for wheat and barley stems from the need for an effective integrated weed management herbicide. Worldwide, the use of pinoxaden has gathered steam in post-emergence herbicide used for the control of annual grass weeds in various cereal crops, including in wheat and barley. It is effective in early and late stages of growth and is found to be effective in Poa (meadowgrass), Setaria (foxtails), Avena (wild oats), Phalaris (canary grass), Alopecurus (blackgrass), Apera (bentgrass), and Lolium (ryegrass). A growing body of toxicity data over the past few years stress the fact that pinoxaden has a low order of acute toxicity to various routes of exposure. Their use as an herbicide has also indicated that it poses minimal risk to dicotyledonous terrestrial plants.
Growing need for improving the agricultural yield of wheat and barley on feeding the rising population is a key trend shaping the contours of the growth in the pinoxaden market. Globally, the losses of the agriculture production from wheat and barley due to annual and perennial weeds are huge. The increasing trend of herbicide resistance in crops driving is bolstering the need for improving herbicide formulations, boosting the prospects of the pinoxaden market.
The global pinoxaden market stood at US$385.4 mn in 2013. Clocking a CAGR of 12.3% during 2014 and 2020, the market is expected to reach valuation of US$862.2 million.
The report on the pinoxaden market segments the market based on type of crop and region parameters.
Focus on Sustainable Wheat Production Reflects on Growing Application to the Crop Type
Among the two major types of crops, wheat leads the global pinoxaden market by a large margin—it accounts for more than 80% presently. In coming years, the share is expected to increase, at least until 2020. World over, herbicide-resistant weed populations has impeded the realization of sustainable wheat production systems. Coupled with this, there is a veritable lack of herbicide-resistant technologies in wheat.
Meanwhile, the demand for pinoxaden is expected to grow at a noteworthy pace—in doubt digits year-over-year. A big impetus comes from the growing demand for high-quality barley among brewers.
Europe the Leading Region, Asia Pacific Holds Massive Revenue Potential
The various regional segments in the pinoxaden market are North America, Europe, Asia Pacific, and the Rest of the World. Of these, Europe held the major share in 2013. Currently, it is used in more than 65% of the overall barley production. Over the past few years, numerous countries have been at the forefront of sizable consumptions of pinoxaden, notably in Germany, France, and Russia. The uptake is expected to remain sizable in coming few years as well.
Trailing the Europe pinoxaden market is North America. Growing demand in herbicide resistant crops is cementing the potential of the regional market.
Meanwhile, Asia Pacific is emerging as a notably lucrative region in the pinoxaden market. Increasing adoption of herbicides to advance sustainable production of wheat and barley is catalyzing lucrative opportunities for producers and market players. Economies in the region are espousing the employment of sustainable production methods, including the use of effective and environmentally friendly weed control herbicides.
List of Figures
FIG. 1 Global Pinoxaden Market Segmentation, By Crop & Region
FIG. 2 Global Pinoxaden Market, 2013 – 2020 (Tons) (US$ Mn)
FIG. 3 Global Pinoxaden Market Share, By Product Segment, 2013 & 2020
FIG. 4 Global Pinoxaden Market For Wheat, 2013 – 2020 (Tons) (US$ Mn)
FIG. 5 Global Pinoxaden Market for Barley, 2013 – 2020 (Tons) (US$ Mn)
FIG. 6 Global Pinoxaden Market Volume Share, By Region, 2013 & 2020