Transparency Market Research Spirotetramat Market (Crop Segments - Vegetable Crops, Fruits, Cotton, Hops, Nuts, Cereals, and Spices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 Published Date 2015-01-27
33 Page Report
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Global Spirotetramat Market is Expected to Reach US$ 233.1 million in 2020 Transparency Market Research State Tower, 90, State Street, Suite 700. Albany, NY 12207 United States www.transparencymarketresearch.com sales@transparencymarketresearch.com
Spirotetramat Market
REPORT DESCRIPTION
Global Spirotetramat Market: Overview
Spirotetramat is a derivative of tetramic acid and is commonly used as a strong insecticide. It belongs to the ketoenol family and is sprayed on plant leaves to prevent the spread of insects and related plant diseases. The advantage of spirotetramat is that even though it is sprayed on the leaves, it can reach all parts of the plant as it can be absorbed through the leaves and travel through the plant’s xylem and phloem. Most insecticides only possess a one-way flow, thereby improving the overall status of spirotetramat in comparison. It is considered as a high quality insecticide and works through the disruption of lipogenesis within a plant, by acetyl carboxylase inhibition.
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The global spirotetramat market is expected to expand at a steady CAGR of 4.4% within a forecast period from 2014 to 2020. The market was valued at US$172.5 mn at the end of 2013. After expanding consistently at the given growth rate, the market’s value is expected to reach US$233.1 mn towards the end of 2020.
North America Leads Demand Volume Rates in Global Spirotetramat Market
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Spirotetramat Market
The global spirotetramat market was dominated by North America in 2013 due to high demand for spirotetramat for whiteflies, scales and mealybugs. Europe held nearly 32% share of the market in 2013. This region is expected to develop at a moderate pace till 2020, thanks to the region’s large production rate of oranges and grapes, as well as its strong presence of spirotetramat manufacturing facilities and easier availability. Latin America and the MEA are proposed to lead the global spirotetramat market over the coming years, in terms of growth rate.
Bayer CropScience AG in Tunisia launched spirotetramat as a brand Movento in 2007. In 2008, the product was launched in the U.S., Canada, Turkey, West Africa, New Zealand and Morocco. In 2010, it was launched in more than 70 countries globally. Spirotetramat is widely used in Brazil, Argentina and Africa for citrus fruits and cotton. The consumption of spirotetramat is moderate in Asia Pacific however reduction in prices will lead to higher consumption in the region.
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High Use of Spirotetramat on Fruits
Fruits emerged as the largest crop segment of the global spirotetramat market, accounting for more than 60% volume share in 2013. Spirotetramat is widely used on grapes and citrus fruits. Vegetable crops are expected to grow at a moderate rate due to substantial consumption of spirotetramat on lettuce. It is also used on other leafy vegetable crops such as cabbage. Cotton accounted for a smaller share of the global spirotetramat market in 2013. However, cotton is estimated to grow at a significant rate between 2014 and 2020 especially in Asia Pacific
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Spirotetramat Market
countries. Other crops include hops, nuts, cereals, spices, etc. Spirotetramat is widely used for citrus, pome fruit, grape, strawberries, lettuce, mangoes and cotton, etc. This insecticide is effective against aphids, psyllids, scales, whiteflies, mealybugs and selected thrips.
The leading player in the global spirotetramat market, as known over the recent past, has been Bayer CropScience AG. This player has been the single manufacturer in the global spirotetramat market for a long time, thanks to its exclusive patent on spirotetramat. The patent, however, is expected to expire in 2017, thereby giving rise to a huge number of other leaders from the insecticides markets as well as regional generics manufacturers to enter the market, increasing the scope of competition.
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