Pinoxaden Market by Regional Analysis, Key Players and Forecast 2020

Global Pinoxaden Market: Snapshot

Pinoxaden refers to a type of white powder that belongs to the class of chemicals known as phenylpyrazole and was developed in 2015 by Syngenta Crop Protection AG. Herbicides are known for preventing the growth of weeds via a procedure that does not harm the environment or the crop in return. Thus, farmers are now preferring pinoxaden over harmful chemical herbicides that might also have various side effects on the environment. Pinoxaden is a type of herbicide which based on grass-weed and deters the production of membrane lipids. This leads to the withering of the target grass. Winter and spring barley and wheat are the main target crops worldwide. It is applicable during the early as well as late stages of growth. Globally, it is employed against barley and wheat weeds such as Setaria (foxtails), Poa (meadowgrass), Phalaris (canary grass), Avena (wild oats), Alopecurus (blackgrass), Lolium (ryegrass), and Apera (bentgrass). Pinoxaden is basically employed with safeners such as clodinafop-propargyl and cloquintocet-mexyl.

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The global market for pinoxaden is expected to witness substantial growth in the coming years due to the growing need for enhanced yield of grains owing to swelling population and the succeeding need for food supply. Across the globe, the loss of barley and wheat owing to weed is 20% to 40% per year on an average. Hence, the demand for pinoxaden is growing globally. The global pinoxaden market is expected to rise at a 12.3% CAGR from 2014 and 2020. The market was pegged at US$385.4 mn in 2013 and is likely to rise to a valuation of US$862.2 mn.

Wheat Crop to Lead in terms of Use of Pinoxaden

Wheat crop accounted for over 80% of the overall demand across the globe for pinoxaden in 2013. The share of wheat crop in the global pinoxaden market is expected to further expand by the end of 2020. Growing resistance over herbicide for existing and current active ingredients such as glyphosate is projected to propel the growth of the global pinoxaden market in the coming years. The demand for pinoxaden for barley is anticipated to exhibit a growth rate which is expected to be in double digits. The market growth is further expected to be supplemented by the high demand from brewers for good quality barley crop.

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Europe Surfaces as Leader Based on Consumption

Region-wise, the global pinoxaden market was dominated by Europe in 2013 with a share of 45% in the same year. At present, the region holds over 65% of the total barley production and 305 of the total wheat production globally. Furthermore, Germany, France, and Russia are the leading three nations producing barley. Thus, the demand for pinoxaden is comparatively high in Europe. Europe was closely trailed by North America in terms of consumption of pinoxaden in 2013. This growth can be attributed to the rising weed resistance of the present herbicide products and growing production of barley and wheat. The region which is likely to lead in terms of growth rate is Asia Pacific. India and China are the dominant producers of wheat worldwide. The Rest of the World is expected to account for a minute share in the global market in the coming years.

The patent for pinoxaden is currently with Syngenta AG, but the patent is expected to expire in 2020. Numerous new entrants are expected to participate in the competition in the global pinoxaden market, thus, resulting in an intensified competition in the market.

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