Pinoxaden Market : Recent Industry Trends, Current and Projected Industry Size by 2020
Pinoxaden, a white fine powder belonging to the phenylpyrazole class of chemicals, was developed by Syngenta Crop Protection AG in 2005. Herbicide prevents the growth of weeds through a mechanism that does not harm crop or environment. Hence, farmers prefer pinoxaden over other chemical herbicides that adversely affect the environment. Pinoxaden is a grass-weed herbicide, which inhibits the synthesis of membrane lipids. This results in desiccation of the target grass. Spring and winter wheat and barley are the major target crops across the globe. It can be applied during early to late growth stages. Globally, it is used against wheat and barley weeds such as Apera (bentgrass), Lolium (ryegrass), Alopecurus (blackgrass), Avena (wild oats), Phalaris (canary grass), Poa (meadowgrass) and Setaria (foxtails). Pinoxaden is usually applied at a rate of 36-62 g a.i/hectare, depending upon the region and target grass species. Pinoxaden is primarily used along with safeners such as cloquintocet-mexyl and clodinafop-propargyl. Pinoxaden was first launched under the AXIAL brand in 2006. It was launched in Italy in 2008 under the AXIAL brand (pinoxaden + cloquintocet-mexyl safener) and TRAXOS (pinoxaden + clodinafop-propargyl + cloquintocet-mexyl).
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The pinoxaden market is expected to expand in the near future, led by rising need for higher yield of grains due to increasing population and the subsequent need for supply of food. Globally, the loss of wheat and barley due to weeds stands at 20% to 40% on an average in a year. Thus, demand for pinoxaden is rising globally, as it acts as an excellent grass-weed control herbicide. Furthermore, application of cereals in the food industry is growing and manufacturers demand for high quality cereals. This is estimated to boost demand for pinoxaden in the next few years. However, high prices of pinoxaden are anticipated to hamper market growth.
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Europe dominated the global pinoxaden market, accounting for over 45% share in 2013. Currently, the region accounts for nearly 30% of wheat production and more than 65% of barley production globally. Moreover, Russia, France and Germany are top three producers of barley. Hence, demand for pinoxaden is strong in Europe. North America emerged as the second-largest consumer of pinoxaden in 2013, due to rising production of wheat and barley, and increasing weed resistance of existing herbicide products. Asia Pacific is projected to be the fastest growing region from 2014 to 2020. China and India are leading producers of wheat globally. The growth of Rest of the World market is moderate owing to availability of other herbicides.
Production of wheat is higher than barley owing to high demand or wheat, as it is consumed on a large scale globally. Wheat crop constituted nearly 80% of the global demand for pinoxaden in 2013. Market share of the wheat crop is further expected to increase by 2020. Demand for pinoxaden for barley is likely to rise by double digit between 2014 and 2020. Demand for high-quality barley by brewers is projected to boost the pinoxaden market in the near future.
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Currently, Syngenta AG holds the patent for pinoxaden; however, the patent is likely to expire in 2020. A large number of new entrants are anticipated to enter the pinoxaden market after the expiry of the patent. This would result in an increase in competition and reduction in prices of the product.
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