Tembotrione Market to Witness Exponential Growth by 2014-2020
Transparency Market Research has released a new market report titled "Tembotrione Market for Corn and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020". According to the report, the market was valued at US$ 21.7 Mn in 2013 and is anticipated to reach US$ 51.2 Mn by 2020, expanding at a CAGR of 13.4% from 2013 to 2020. In terms of volume, the global demand for tembotrione stood at 267.4 tons in 2013.
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Launched in 2007, tembotrione is approved and registered with the U.S. Environment Protection Agency (EPA) as well as the European Union (EU). It is said to contain low acute toxicity via dermal, oral and inhalation routes. Global demand for tembotrione is estimated to rise in the near future, due to increasing resistance in weeds, especially for herbicides such as glyphosate, dicamba and ALS inhibitors. Tembotrione inhibits 4-hydroxyphenlypyruvate (HPPD), which causes a deficiency of these prenylquinones in plant tissues. Tembotrione has been launched in most countries in the Americas and Europe.
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Recent approval by the European Union is expected to drive the tembotrione market in Europe significantly. Additionally, the market for tembotrione has strong growth opportunities in corn producing countries, especially in Asia Pacific. On the other hand, availability of a number of substitutes coupled with the introduction of various new active ingredients every year may act as threat to the tembotrione market during the forecast period.
Currently, corn is the only crop where tembotrione is used. Tembotrione formulations are used to control broadleaf weeds in field and silage corn, seed corn, sweet corn and popcorn. The corn application accounted for more than 90% share of the global tembotrione market in 2013. Tembotrione, on a small scale, is used as a research commodity.
North America dominated the global tembotrione market, accounting for more than 55% share in 2013. Laudis, the brand for tembotrione, is available in the U.S. as well as Mexico. Different forms of the tembotrione product are registered or approved in different states of the U.S. North America was followed by Europe, Rest of the World (RoW) and Asia Pacific. Currently, Europe is the second-largest and fastest growing market for tembotrione. The EU’s approval for the herbicide is expected to drive the tembotrione market in the near future. Brazil, with significant corn production, was a key
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tembotrione consumer in RoW in 2013. High demand for tembotrione demand is likely to continue up to 2020, due to rise in glyphosate-resistant weeds in various countries globally.
Bayer CropScience AG is the only tembotrione manufacturer, with its facility located in the U.S. Laudis and Capreno are the two major brands of tembotrione formulations available in the herbicides market.
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