Tebufenozide Market: Overview
- Tebufenozide is an insect growth regulator, which acts as a molting hormone. It is used as an agrochemical active ingredient on several crops including fruits, vegetable, rice, and corn.
- Tebufenozide is widely used to control the spread of caterpillars, gypsy moths, budworms, loopers, tussock moths, and other leaf-eating insects that damage crops. Tebufenozide helps keep crops disease-free and healthy. This helps improve the yield.
- Increase in application of agrochemicals as fat soluble insecticides for various crops is driving the tebufenozide market across the globe. Tebufenozide is extensively used in fruit crops, including almond, grapes, pear, apple, peach, avocado, lime, and lemon.
- Forest department also uses tebufenozide to protect trees from leaf-eating insects
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Rise in Demand for Insecticides to Drive Tebufenozide market
- Decrease in arable land across the globe, decline in tolerance to biotic stresses such as insects, and increase in demand for fruits and vegetable are boosting the global tebufenozide market
- Growth in population has boosted the demand for food across the globe. Insecticides help increase crop yield and bridge the food production and demand gap. This, in turn, is augmenting the demand for tebufenozide across the globe.
- Prices of raw materials such as fine chemicals, which are used to produce tebufenozide, have been volatile of late due to the supply shortages triggered by the industrial shutdown owing to COVID 19 outbreak. Disruption in supply of raw materials is projected to hamper full-scale operations of companies.
- Supply shortage has also led to a rise in prices of raw materials. Affected downstream supply chain might take longer for deliveries. The industrial shutdown has also adversely impacted product and inventory transportation, as logistic services have been hampered due to the COVID-19 outbreak.
Powder Form Segment to Offer Lucrative Opportunities
- Based on form, the global tebufenozide market can be bifurcated into liquid and powder
- Powder is estimated to be a rapidly growing segment of the global tebufenozide market during the forecast period
Vegetable & Fruits Application Segment to Hold Major Share of Market
- Based on application, the tebufenozide market can be divided into vegetables & fruits, corn & rice, and others
- The vegetables & fruits segment holds major share of the global tebufenozide market, led by the rise in demand for fruits and vegetables across the globe. Tebufenozide helps increase the yield of fruits. It is less toxic than other pesticides.
- The corn & rice segment is expected to expand at a faster CAGR during the forecast period
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North America to Constitute Significant Share of Global Tebufenozide Market
- In terms of region, the global tebufenozide market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America holds major share of the global tebufenozide market in 2019. The region has large market for GM (genetically-modified) crops. As a result, demand for tebufenozide is high in North America. The U.S. dominated the tebufenozide market in the region in 2019.
- Asia Pacific is estimated to offer lucrative opportunities for the tebufenozide market during the forecast period, owing to increase in awareness about the benefits of tebufenozide vis-à-vis other pesticides. China is a highly lucrative country of the tebufenozide market in Asia Pacific.
- Brazil and Argentina are likely to drive the tebufenozide market in Latin America in the near future
Key Players in Global Tebufenozide Market
The global tebufenozide market was highly fragmented in 2019. Prominent players operating in the global tebufenozide market seek to enter into joint venture and partnership agreements for the development of innovative products.
Key players operating in the global tebufenozide market include:
- Sigma-Aldrich Co. LLC
- Nippon Soda Co., Ltd.
- Wings Chemical Co. Ltd.
- Kumiai Chemical Industry Co. Ltd.
- Green Mountain Co., Ltd.
- Hangzhou Tianlong Biotechnology Co., Ltd.
Global Tebufenozide Market: Research Scope
Global Tebufenozide Market, by Form
Global Tebufenozide Market, by Application
- Vegetables & Fruits
- Corn & Rice
Companies in the Tebufenozide market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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