Global Spirodiclofen Market: Snapshot
The global market for spirodiclofen is witnessing a high growth rate, thanks to its significantly increasing demand, owing to its compliance with the current requirements and the standards of integrated pest management (IPM). Over the coming years, this demand is likely to increase effectively, thanks to the rising yield of almonds, walnuts, and tangerines. Apart from this, the surge in the production of tomatoes is also projected to boost the market remarkably over the next few years.
In 2013, the worldwide market for spirodiclofen was worth US$119.9 mn. Registering a CAGR of 6.0% between 2014 and 2020, the opportunity in this market is likely to increase to US$172.1 mn by the end of 2020. Researchers predict high growth prospects for this market on account of the rising usage of spirodiclofen in fruiting vegetable crops and decorative plants in the years to come.
Demand for Spirodiclofen to Rise in Almond Crops
Spirodiclofen finds a widespread usage in a number of fruit crops, such as almond, apple, peach, grapes, pear, avocado, and lime and lemon. Among these, almonds report the most prominent consumption of the acaricide across the world. The efficiency of spirodiclofen in keeping the crop healthy and disease-free, thus improving the crop yield, is reflecting greatly on its adoption in this segment. Since, the crop industry is focusing aggressively on protecting the crops from various insects and diseases, the demand for mite-extermination chemicals, specifically spirodiclofen, is expected to increase over the forthcoming years, boosted by the growing production of fruits, such as tangerines and walnuts.
Other crops, such as ornamental plants and fruiting vegetables, are also requiring spirodiclofen significantly in order to eliminate harmful pests that restrict the growth of the plant. With the increasing cultivation of ornamental plants, known as floriculture, which is broadly done for the purpose of beautification in landscape design projects, the demand for spirodiclofen is likely to rise in the years to come. Moreover, the growing production of several other common crops, such as tomatoes – in a bid to meet the escalating demand for food – is projected to boost the market for spirodiclofen across the world in the years to come.
Europe to Continue on Top
In terms of geography, the global market for spirodiclofen registers its reach across Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW). With a share of 25%, Europe led the overall market in 2013. Thanks to the increasing usage of this acaricide in several crops, such as walnuts and almonds, the regional market is expected to remain on the top over the forthcoming years.
Among other regional markets, Asia Pacific is projected to offer the most lucrative opportunities for the growth of this market in the near future. North America and the Rest of the World, specifically Latin America, are also expected to experience an increased demand for spirodiclofen in the years to come.
With only two established players, the global market for spirodiclofen displays a highly concentrated competitive structure. The two leading participants in this market are Bayer CropScience and Hangzhou Tianlong Biotechnology Co. Ltd.
Spirodiclofen is an acaricide/insecticide that belongs to the family of tetronic acids. The agrochemical affects the fat metabolism, and disturbs the energy balance of pests, thereby eventually eliminating them. Spirodiclofen is used in a wide range of fruit crops such as apple, almond, walnut, avocado, tangerine, orange, and peach.
This report provides detailed analysis and forecast of the spirodiclofen market on a global and regional level from 2014 to 2020. On the global level, the market has been segmented based on revenue (US$ Mn) and volume (Tons) from 2014 to 2020. For in-depth understanding of the market at the regional level, demand has been forecast in terms of revenue (US$ Mn) and volume (Tons) from 2014 to 2020.
The market has been segmented based on crops. Each segment has been analyzed and forecast based on revenue (US$ Mn) and volume (Tons) from 2014 to 2020. Additionally, the segments have been analyzed and forecast based on current trends at the global and regional level during the given time period. Geographically, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Demand has been analyzed and forecast based on current trends for the period of six years.
Profiles of companies such as Bayer CropScience and Hangzhou Tianlong Biotechnology Co. Ltd have been included in the report.
Inflation is not a part of pricing in this report. This report provides the market size of spirodiclofen for 2013, and forecast for the next six years (from 2014 to 2020). The global market size of spirodiclofen is given in terms of volume and revenue. Market volume and revenue has been estimated and forecast in tons and US$ Mn. Market numbers are estimated based on various crop types of spirodiclofen. Market size and forecast for each segment is provided in the context of the global as well as regional market.
We conducted in-depth interviews and discussions with numerous key industry participants and opinion leaders for the research report. Primary research represents the bulk of the research efforts coupled with an extensive secondary research. We reviewed key players’ annual reports, product portfolio, press releases, and relevant documents for competitive analyses and better understanding of the market. Secondary research includes in-depth research on current trends, technical writing, recent trades, internet sources, trade associations, statistical data from government websites and associated authorized agency websites. This proved to be the most successful, effective, and reliable approach for obtaining concise data, capturing industry participants’ insights and recognizing opportunities and growth.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings. It also includes internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases and market reports. News articles, press releases and webcasts specific to companies operating in the market also serve as part of secondary sources.
We conduct primary interviews on an on-going basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills various functions. It provides first-hand information on the market size, market trends, growth trends, competitive landscape, outlook, etc. It also helps in validating and strengthening the secondary research findings, and further develops the analysis team’s expertise and market understanding. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.
Spirodiclofen Market - Crop Segment Analysis
- Others (Including tomato and ornamental plants)
Spirodiclofen Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)