Ethiprole Market size is forecast to reach $95.1 million by 2025, after growing at a CAGR of 0.6% during 2020-2025. Ethiprole belongs to the family of phenylpyrazole chemicals used as insecticides for crops such as rice crops, cotton, soybeans, tea and other vegetables against several insects affecting them. This class of insecticides affects the central nervous system of insects by blocking their glutamate-gated chloride channel, inducing toxicity in the insect making them more effective insecticide for crops most affected by insects and also for the Crops used after long storage. Considering, the growth in agricultural demand in current decade the requirement for ethiprole is expected to increase.
By Crop – Segment Analysis
Citrus segment held a significant share in ethiprole market in 2019 growing at a CAGR of XX% during the forecast period. It has ability to improve the quality of normal crops as well as for those crops with longer shelf life including peanuts, citrus fruits, wheat and corn. Ethiprole can be easily applied to cotton, tea, rice crop, soybean and different vegetables and is also helpful in multiple cultivation processes. In addition, it can also be mixed with other insecticides resulting into highly effective insecticide capable of providing almost double control over insects in the crops. It has ability to control various insects such as thrips, white flies, leaf miners and phyllids.
The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future.
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Geography- Segment Analysis
Asia Pacific segment held a significant share in ethiprole market in 2019. Rising insecticides demand across the Asia Pacific region owing to increase in crop protection from plant hoppers, maggots, aphids, grasshoppers, leaf miners and phyllids are expected to contribute in the global ethiprole market growth. Emerging countries including China, India and Brazil are expected to witness high growth in market over the forecast period. Growing population coupled with increase in quality and hygienic food demand is expected to propel the ethiprole market in Asia Pacific region. Countries including Brazil, Japan, Thailand, China, Indonesia, India and Vietnam are using ethiprole for their crop protection mainly for rice. Developing countries including China and India are expected to establish as a new product markets if manufactures are able to meet the respective country’s regulations and policies by decreasing the toxicity level.
Drivers – Ethiprole Market
Increasing usage of ethiprole market in agriculture sector
Agriculture sector was the largest end use industries where ethiprole is expected to emerge as best insecticides for varieties of crops. Ethiprole is presently used rice crops, cotton, soybeans, tea and other vegetables directly and for storage of wheat, peanuts, corn pome and other citrus fruits against several insects affecting them. It has ability to improve the quality of normal crops as well as for those crops with longer shelf life. The ability of ethiprole is further enhanced by its usage along with other insecticides.
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Challenges – Ethiprole Market
Ethiprole belongs to the family of phenylpyrazole insecticides. These insecticides are highly toxic in nature and demonstrate carcinogenic effects in humans. The potential carcinogenic effects of ethiprole are currently under laboratory tests, making it less favorable in developed regions.These factors have presently limiting the usage of ethiprole to certain crops and in certain countries. For instance, ethiprole is currently not registered to use on any crops in the U.S. and in Canada which in turn is expected to restrict the market in North America over the forecast period.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the ethiprole market. In 2019, the market of ethiprole has been consolidated by the top five players accounting for xx% of the share. Major players in the ethiprole market are Bayer Cropscience AG, Rayfull Holding Co., Ltd, Hangzhou Sartort Chemical Co., Ltd., Jiaxing Suns International Trade Co., Ltd., Wuhan Sensedawn Science & Technology Co., Ltd. and Luyang Energy-Saving Materials Co. Ltd. among others.
Product Launch/ Acquisition
In March 2020, Chinese agrochemical company Jiangsu Tuoqiu Agrochemical Ltd announced an investment of Yuan20 million using its own funds to launch a wholly-owned subsidiary, Tuoqiu Biotechnology (Lanzhou) Co. Ltd, to increase its production capacity and enhance the business strength of the company. The new capacity of the subsidiary includes: 800-ton fipronil, 1,500-ton prochloraz, 600-ton oxadiazon, 500-ton bromothalonil and 2,000-ton paclobutrazole.
In May 2017, Bayer CropScience has launched two seed treatment products Routine® FS (18% isotianil) and Kirappu Seed® FS (29.2% ethiprole).
Increasing usage if ethiprole in the agriculture industry is expected to drive the ethiprole market.
The global ethiprole market is expected to drive over the forecast period on account of rising improved quality insecticides demand.
Asia Pacific dominated the ethiprole market.
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