Penoxsulam Market Research Study For Forecast 2020, Challenges, Demand, Woldwide Overview
Penoxsulam, with the chemical name 20 (2,2-difluoroethoxy)–6-(trifluoromethyl-N-(5,8-dimethyl [1,2,4] triazolo [1,5-c]pyrimidin-2-yl) benzenesulfonamide, is an active ingredient created by Dow AgroSciences LLC. It is available in sulfonamide-based herbicides. The product is used to control broadleaf weeds, sedge, and grass weeds in rice fields. Various penoxsulam formulations such as Grasp SC and Granite SC herbicides (liquid concentrate) are available for rice field applications in the U.S. Other formulations available in the market include Clipper (Vietnam and Indonesia), Viper (the European Union), Fencer (China), Ricer (Brazil and Argentina), and Rainbow (Egypt). The product is also used in applications in aquatics and turf. Sapphire and LockUp are the key brands in turf applications.
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Penoxsulam is said to be mobile and not very persistent in either aqueous or terrestrial environments. This herbicide prevents the growth of weeds through a mechanism that does not harm animals. Hence, farmers prefer penoxsulam over other chemical herbicides that adversely affect the environment. Penoxsulam mixed with nitrogen is a safe herbicide formulation available for usage in lawns and gardens. However, a number of weeds such as fescues or perennial ryegrasses, annual bluegrass, and bentgrass species are resistant to this herbicide. Additionally, the crop protection industry has been witnessing an annual addition of various new herbicides. This may pose a threat to demand for existing products such as penoxsulam.
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Globally, more than 160 million hectares of land was dedicated to rice cultivation in 2012. Different herbicides such as acetochlor, clomazone, and butachlor are available for weed control in rice fields. Penoxsulam is one of the most widely used herbicides in paddy fields. Penoxsulam is primarily used in wet environments such as rice fields, water bodies containing aquatic weeds, and turfs. In terms of volume, the market share of penoxsulam for rice applications was more than 85% of the global demand in 2013. Low toxicity of the product is anticipated to drive the penoxsulam market. Aquatics and other applications such as turf are likely to remain more or less the same by 2020, owing to the stable growth of each application during the forecast period.
Asia Pacific emerged as the dominant market with more than 55% share of the global demand for penoxsulam in 2013. Demand for penoxsulam is anticipated to increase significantly in the Asia Pacific, mainly due to growth in the crop protection industry in the region. China, India, Indonesia, Bangladesh, Vietnam, and Thailand are among the key rice growing countries in Asia Pacific. RoW is the second-largest market for penoxsulam and is likely to experience significant growth during the forecast period. North America is the smallest market with a small share of land dedicated for rice cultivation. The region is estimated to experience sluggish growth owing to the low usage potential of penoxsulam in the region, compared to other regions around the world. Europe is likely to witness moderate growth during the forecast period, due to the availability of various other rice herbicides in the region.
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Dow AgroSciences LLC launched penoxsulam in 2005 in the U.S. The company’s penoxsulam production plant is located in Midland, Michigan. Dow AgroSciences LLC distributes its product formulations globally from the U.S. The company still holds the patent for penoxsulam; however, the market is expected to witness the entry of new manufacturers after the patent expires, i.e. between 2015 and 2017.
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