Spirotetramat Market is Expected to Reach US$ 233.1 million in 2020

Spirotetramat Market is Expected to Reach US$ 233.1 million in 2020 | TMR

Spirotetramat is a tetramic acid derivative and belongs to class of ketoenols. Exceptional qualities of spirotetramat as an insecticide on various vegetable crops and fruits are anticipated to drive the market growth between 2014 and 2020. Spirotetramat disrupts lipogenesis in plants by inhibiting acetyl CoA carboxylase. Spirotetramat can be transported throughout the plants from leaves to roots and vice-versa while other most of the insecticides available in the market have one-way transport system.

The global spirotetramat market demand was valued at US$ 172.5 million in 2013 and is expected to reach US$ 233.1 million by 2020, expanding at a CAGR of 4.4% between 2014 and 2020.

Vegetable crops are expected to grow at a moderate rate from 2014 to 2020. Cotton accounted for smaller share of the market with extensive use in Asia Pacific.

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The global spirotetramat market was dominated by North America in 2013 due to high demand for spirotetramat for mealybugs, scales and whiteflies. Rest of the World is projected to be the fastest growing region in the global spirotetramat market. It is widely used on citrus fruits, grapes, starwberries, etc. in the region. In terms of revenue, Asia Pacific market is expected to reach over US$ 51 Mn by 2020. The European market is expected to grow at a significant rate in the next few years due to large application of spirotetramat to grapes and oranges.

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. 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.

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The global spirotetramat market is highly consolidated in nature, with a single manufacturer i.e. Bayer CropScience operating in the market. Spirotetramat is available in the market under Bayer’s brands Movento, Ultor and Kontos. The patent acquired by Bayer CropScience is likely to expire by 2017. New entrants in the market are expected after 2017, thus creating new growth opportunities.

The global spirotetramat market was dominated by North America in 2013 due to high demand for spirotetramat for mealybugs, scales and whiteflies. Movento was launched in the U.S. and Canada in 2008. It is predominantly used for oranges and lettuce plants in the region. Spirotetramat is available in the market under Bayer’s brands Movento, Ultor and Kontos. The patent acquired by Bayer CropScience AG is anticipated to expire by 2017.

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