The growing demand for expanding the range of post-emergence herbicides has boosted the evolution of the tembotrione market. The emerging demand for triketone herbicides for the selective control of broadleaf weeds and annual grasses in corn is the key factor driving the growth of the market. The technology of rapid bleaching and elimination of susceptible weeds has propelled the demand for tembotrione, a key ingredient in triketone herbicides.
The active ingredient tembotrione has been marketed as Laudis OD by Bayer in 2008. Bayer Cropscience LP, the only manufacture of tembotrione, has patented the technology and enjoys rights of data protection for some time even after the expiry of the patent. This is expected to limit the competition from manufacturers engaged in manufacturing generics versions. Rapid advances in weed control technology has further improved the modes of action and bleaching ability of tembotrione, positively impacting the market. The use of tembotrione to control glyphosate-resistant weed augurs well for the market growth over the forecast period.
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The tembotrione market is expected to rise at a CAGR of 13.4% from 2013 to 2020. The opportunities in the market is projected to reach US$51.2 mn by the end of the forecast period.
Based on application, the tembotrione market is segmented into corn and research commodity. The primary areas of tembotrione herbicides are in sweet corn, seed corn, and popcorn crop fields. The crop protection industry is witnessing exciting opportunities due to the continuous launch of innovative formulations. The corn application segment accounted for a major share in the global tembotrione market in 2013 and is expected to show a spectacular growth over the forecast period. The growing popularity of non-selective herbicides such as glufosinate and glyphosate in some corn varieties has also positively impacted the growth of this segment.
The recent approval of the use of herbicides is several countries of European Union is expected to catalyze the demand for tembotrione herbicides in corn fields. Furthermore, the demand for innovative bleaching technology among corn growers in various developing regions is expected to bolster the uptake.
On the other hand, the application of tembotrione across research institutions is driven by their efforts for developing and expanding unwanted herbicides for sorghum and soybean. However, at present, in terms of volume, the share of the segment is low.
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Asia Pacific to Offer Lucrative Growth Avenues through Forecast Period
On the basis of geography, the tembotrione market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Of these, currently North America dominates the global market and the major demand for tembotrione herbicides comes from the U.S. The growth of the regional market is driven by the presence of the wide availability of the product in the U.S. and Mexico. The herbicide ingredient is approved for use in several states of the U.S.
This North America market is followed by the Europe market for tembotrione and is projected to witness significant growth over the forecast period. The approval of the herbicide by the European Commission under EU plant protection regulation in 2014 has boosted the regional market. Meanwhile, in the RoW region, Brazil and Argentina witnesses a substantial consumption of tembotrione, primarily driven by extensive corn productions and early regulatory approval of the herbicide. Meanwhile, Asia Pacific is expected to offer lucrative growth avenues for the tembotrione market, driven by large untapped opportunities in several corn-growing nations.
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