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Overview
Thiamethoxam Market is forecast
to reach $3.22 billion by 2025, after growing at a CAGR of 9.60% during 2020-2025.
Thiamethoxam is an insecticide that belongs to a class of neonicotinoids having a
wide spectrum of activity against different types of insects. Thiamethoxam
interferes in the nervous system of the insect with a specific receptor site.
Once insects come into contact with thiamethoxam or feed on the plant, feeding
is stopped irreversibly and insect damage halts. Rise in the number of
resistant pests, increasing food demand, and the need for increased agricultural productivity
is expected to have a positive impact on the growth of thiamethoxam market
during the forecast period. The report covers Thiamethoxam Market size by type and pest, Thiamethoxam Market share by top 5 companies and also the market share by start-ups during the forecast period.
Report Coverage
The report: “Thiamethoxam Market – Forecast (2020-2025)”, by IndustryARC, covers
an in-depth analysis of the following segments of the Thiamethoxam Market.
Key Takeaways
- The major factors that are helpful for driving thiamethoxam market is the need to provide food security to the world, better productivity and increasing demand for healthy and harmful organisms free crops.
- BASF SE, a German manufacturer of chemicals, performance products and agricultural solutions are focusing on the development of active ingredients like herbicides, insecticides, and fungicides for protection of crops. These active ingredients provide innovative solutions to enhance the crop yields worldwide.
- Oilseeds cultivators frequently use insecticides to protect their crop from insects such as painted bug, mustard aphid and mustard sawfly.
By Crop Type - Segment Analysis
Cereals and grains segment held a
significant share in the thiamethoxam market in 2019. Without the use of plant
protection products like thiamethoxam, yields will be significantly reduced,
depending on the crop. According to EPRS, the yield gain by use of insecticides is
between 19% for wheat to 42% for potato; while rice, maize, and soybean have
comparable yield gains by active ingredients, around 30%. Further, the growth
of global cereal trade has also played a key role in supporting farmer’s
ability to invest in active ingredients for
increasing cereal yields. In 2018, ITC reported a 6.1% y-o-y growth in cereal
export value. The growing cereal exports, supported by initiatives launched by
government agencies to promote the usage of crop protection chemicals like
thiamethoxam, will boost the thiamethoxam market growth.
By Pest - Segment Analysis
Bemisia segment held a
significant share in the thiamethoxam market in 2019. Bemisia is one of the
most important pests on cotton around the world. The steady growth in cotton
exports has actuated farmers to invest in thiamethoxam to improve yields and
protect the crop from pests like bemisia. Cotton farmers use insecticides like
thiamethoxam for pest control. In 2018, ITC reported 1.8% y-o-y growth in
cotton exported value. According to the National Center for Biotechnology Information
(NCBI), cotton seeds treated with imidacloprid and thiamethoxam were effective
against bemesia for up to 45 days under laboratory and greenhouse conditions,
and up to ~2 months under field conditions. Use of seeds treated with imidacloprid
and thiamethoxam can be an important alternative for the management of whiteflies
on cotton.
Geography - Segment Analysis
Asia-Pacific is
projected to remain a dominant region with a share of 39.4% of the market during
the forecast period, followed by North America and Europe that held a key share
of the thiamethoxam market. Asia- Pacific is
accounted for a significant share in the market, as it is one of the major producers
of key crops like rice, corn and cotton. Insecticides have been widely used in
India to reduce approximately 45% gross crop loss owing to the pest and disease
infestation. Increasing population and high
growth in the agricultural sector in APAC countries such as India and China are
driving the demand for the crop protection chemicals which in turn is driving
the demand for thiamethoxam market in Asia-Pacific. Variation in the climatic
condition in Asia-Pacific enables the production of a wide variety of crops which
is expected to have a positive impact on the agricultural sector over the
forecast period.
Drivers – Thiamethoxam Market
·
Increasing
food demand and decreasing land area
The increasing population is leading
to a need for higher agriculture output. Due to increasing urbanization, there is a reduction of arable land in recent years. Food security is a key focus area for
all countries. With construction increasing on agricultural lands, the area
under crop cultivation is declining. The decrease in arable land is expected to
be met by increasing crop yield and production. To satisfy the food needs of
the growing population, farmers are using more crop protection chemicals like
thiamethoxam, to increase corresponding crop yields per hectare, which is
driving the market for thiamethoxam.
·
Rising demand for active ingredients to
control target pests.
There are a number of insects
species such as ladybugs, ground beetles, damsel bugs and others, which are
beneficial for eliminating and controlling pests that cause great damage to
lawns and gardens. The demand for active ingredients to control target pests is
set to increase, since they do not harm the beneficial insects.
Insect pests cause damage to farmer’s
food supply, property, health, and livelihood. To safeguard the supply of food
and to meet the requirements of the rising population, farmers are using active
ingredients like insecticides (thiamethoxam) which kill the target pests.
Challenges – Thiamethoxam Market
·
Strict
environment regulations to ban harmful insecticides
Regulatory organizations such as
the World Health Organization (WHO) and the U.S. Environment Protection Agency
(EPA) have implemented stringent regulations to reduce the use of pesticides,
in a bid to alleviate environmental harm. These organizations also work towards
increasing customer awareness of the use of synthetic pesticides. This is
negatively affecting the growth of several active ingredients, including thiamethoxam.
The European Food Safety
Authority in January 2013 mentioned that neonicotinoids pose a high risk to bees.
Further, in April 2013, the European Union voted for the ban of neonicotinoids
insecticides (thiamethoxam, clothianidin, and imidacloprid) for 2 years, for use
on crops that are attractive to bees. In April 2019, member states of the
European Union agreed upon a total ban on neonicotinoid insecticide use, except
within closed greenhouses. Restriction
of thiamethoxam in Europe due to hazardous effects on bees is expected to
hamper the growth of the market.
Market Landscape
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the thiamethoxam market. In 2019, the market of bitumen has been consolidated by the
top five players accounting for xx% of the thiamethoxam market share. Major top 10
companies of thiamethoxam market are Syngenta Crop Protection, United
Phosphorus Limited (UPL), Biostadt India, Jiangsu Luye Agrochemicals, Rudong
Zhongyi Chemical, Lianyungang Jindun Agrochemical, Jiangsu Changqing
Agrochemical and Jiangsu BVCO Chemical among others.
Product Launch/
Geographical Expansion
Ø In January, 2019, Syngenta
launched insecticide Durivo for coffee in Brazil. This insecticide consists of
two active ingredients which are thiamethoxam and chlorantraniliprole, to
control the "bicho-mineiro" (Leucoptera coffeella) in coffee. This is
the main and best known among pests that can reach coffee in the country.
Ø In June 2016, Jiangsu Rudong Zhongyi
Chemical Ltd has established pesticide technical production facilities covering
500-ton thiamethoxam, as well as formulation production capacity covering
500-ton 250g/L tebuconazole EW and 2,000-ton 430g/L tebuconazole SC.