PYROXASULFONE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The global pyroxasulfone market size was estimated to be US$ 276.5 million in 2023 and is projected to reach US$ 559.7 million by 2030, growing at a CAGR of 10.6% during the forecast period.

The growth of the market is attributed to the increasing demand for pyroxasulfone from the agriculture sector, particularly for controlling weeds in wheat, corn, and soybean crops.

Pyroxasulfone is a novel pre-emergence herbicide that is effective against a wide range of broadleaf weeds, including Phalaris minor, a major weed pest in wheat crops. It is also effective against other weeds such as barnyardgrass, foxtail, and volunteer corn. Pyroxasulfone is relatively safe for crops and does not have any known negative effects on soil or water quality.

Pyroxasulfone Market Regional Insights

• North America: The pyroxasulfone market in North America is expected to account for the largest share and it holds 35% market share of the global market in the coming years. This is attributed to the high demand for herbicides in the region, driven by the increasing adoption of precision agriculture practices and the growing use of genetically modified crops
• Europe: The pyroxasulfone market in Europe is expected to witness moderate growth in the coming years and it holds 25% market share. This is attributed to the stringent regulations on the use of herbicides in the region. However, the growing demand for organic produce is expected to drive the pyroxasulfone market in the region.
• Asia Pacific: The pyroxasulfone market in Asia Pacific is expected to witness the fastest growth in the coming years as it holds 20% market share. This is attributed to the increasing demand for herbicides in the region, driven by the expansion of agricultural land and the growing use of herbicides to control weeds in rice, wheat, and corn crops.

Figure 1. Global Pyroxasulfone Market Share (%), by Region, 2023

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Pyroxasulfone Market Drivers

• Increase in Weed Resistance: The rise in resistance of weeds to other herbicides can drive the demand for alternative herbicides like pyroxasulfone. As more weeds become resistant to currently used herbicides, there is a need to rotate herbicides or find new formulations, and pyroxasulfone might be chosen for its efficacy against certain resistant weeds. For instance, according to the International Survey of Herbicide Resistant Weeds managed by the Weed Science Society of America, waterhemp, a troublesome pigweed species in Midwestern U.S. corn and soybean fields, has now evolved resistance to five different herbicide sites of action.
• High Efficacy: If pyroxasulfone is found to be more effective than other herbicides in controlling specific weeds, this can act as a significant driver for its demand. For instance, according to the United States Department of Agriculture  2020 report, the number of unique herbicide-resistant weed species and populations continues to grow annually across most agricultural regions. Unless properly managed, these resistant biotypes threaten future agricultural productivity and sustainability.
• Crop Safety: If pyroxasulfone is proven to have minimal or no adverse effects on crops when applied at recommended rates, it can be more widely adopted
• Regulatory Approvals: The approval of pyroxasulfone for use in additional crops or in new regions can open up larger market segments, thus acting as a driver for its demand

Pyroxasulfone Market Opportunities

• Emerging Markets: Developing nations with increasing agricultural productivity might offer opportunities. As these nations modernize their agricultural practices, there is potential for increased adoption of herbicides like pyroxasulfone. For instance, as per data from the World Bank, agricultural land in Vietnam increased from 18.6 million ha in 2010 to over 20 million ha in 2020. The government also aims to modernize farms and boost crop yields through extension programs. This developing agricultural sector and supportive policies create a very conducive environment for pyroxasulfone adoption.
• Crop Expansion: If pyroxasulfone is found to be effective and safe for additional crops, there could be opportunities to expand its usage to those crops. For instance, according to data from the UN Food and Agriculture Organization, there remains substantial uncultivated land that could be suitable for agriculture, especially in regions with developing economies such as sub-Saharan Africa and South America. Brazil alone is estimated to have potential for expanding its cropland by over 70 million hectares without encroaching on sensitive ecosystems, which would make it a major market for agricultural inputs like pyroxasulfone.
• Innovative Formulations: Developing new formulations or combination products (i.e., pyroxasulfone mixed with other herbicides) could lead to better weed control and, consequently, increased market growth
• Sustainable Agriculture: If pyroxasulfone can be positioned as a more environmentally friendly or sustainable herbicide choice, it could appeal to farmers looking for sustainable weed control options.

Pyroxasulfone Market Trends

• Shift towards Sustainable Farming: There is a global trend toward more sustainable farming practices. If pyroxasulfone is found to have a lower environmental footprint compared to other herbicides, it could gain traction. For example, the Indian government's Paramparagat Krishi Vikas Yojana encourages natural and organic farming techniques. As of 2022, over 5 million Indian farmers are involved in this scheme and have reduced or eliminated the use of synthetic pesticides and weedicides.
• Precision Agriculture: With the advent of technology in farming, there is a move towards precision agriculture. This trend emphasizes the use of herbicides like pyroxasulfone in a more targeted manner, reducing wastage and environmental impact. For example, according to a report by the UN Food and Agricultural Organization (FAO) in 2021, drone usage in agriculture rose by over 35% from 2020 levels in countries like the U.S., China, Brazil, and India. This indicates that precision application methods using drones will further optimize pyroxasulfone use in the coming years.
• Integrated Weed Management: More farmers and agronomists are advocating for integrated weed management (IWM), where multiple tools and practices are used to manage weeds. Pyroxasulfone, being a part of this strategy, might see increased demand.
• Regulatory Scrutiny: Herbicides and pesticides, in general, are under stringent regulatory scrutiny for potential environmental and health impacts. Products that can demonstrate safety and efficacy might be favored in this landscape.

Pyroxasulfone Market Restraints

• Environmental Concerns: Any evidence that suggests that pyroxasulfone could have a detrimental effect on the environment, such as impacting non-target species or contaminating water sources, would act as a restraint. According to the studies conducted by the European Food Safety Authority in 2021-22, pyroxasulfone was found to remain in soil for more than 6 months. This poses risk to future crops grown in the same field as well as contaminating groundwater.
• Regulatory Restrictions: Tightening regulations around herbicide use or increased scrutiny of pyroxasulfone due to potential health or environmental risks can limit its market penetration. For instance, as per data by the Food and Agriculture Organization (FAO), over 180 countries have now restricted or banned at least one highly hazardous pesticide which was previously in widespread use. While aiming to ensure environment and user safety, such sweeping measures negatively impact the commercial potential of certain agrochemicals including pyroxasulfone.
• Shift to Organic Farming: The global trend towards organic farming, which shuns the use of synthetic herbicides, can act as a restraint on the market growth of pyroxasulfone

Analyst’s Views

The pyroxasulfone market is expected to experience moderate growth over the forecast period. Growing adoption of pyroxasulfone in various crops like cereals and fruits is expected to drive demand for Farmers in market. Farmers are increasingly looking for products that provide effective weed control while being safer for the crops and environment. Pyroxasulfone addresses this need well as it is a selective herbicide that does not harm crops. However, availability of alternative herbicide options and stringent regulations around pesticide use may limit growth opportunities for pyroxasulfone. Farmers may prefer other herbicides that are cheaper or already approved in their country. Additionally, the growing adoption of integrated pest management and organic farming practices focus on reducing chemical inputs could lower dependency on synthetic herbicides like pyroxasulfone. The Asian  Pyroxasulfone Market, especially countries like India and China, offer significant growth potential owing to the large area under agriculture and shifting preferences towards effective weed control products. North America and Europe will continue dominating due to well-established agricultural practices and high adoption of new agrochemical products. Meanwhile, markets in Latin America and Middle East & Africa are expected to grow at a faster pace driven by increasing crop production and government support for modernization in farming.

 Recent Developments

 New product launches

• Ihara Kyojin (Pyroxasulfone + Flumioxazin) is a pre-emergence herbicide that is designed to control resistant weeds in soybeans and corn. It is the first product to combine pyroxasulfone with flumioxazin, which is another effective herbicide for controlling resistant weeds. Ihara is a Brazil-based company that specializes in the development and production of agrochemicals including herbicides, insecticides, and fungicides. The company has been in operation for 57 years and has worked side by side with farmers to develop new technologies that help protect the productive potential of various crops.
• Best Agrolife Pyroxasulfone 85% WG is a pyroxasulfone technical product that is manufactured in India. It is the first pyroxasulfone technical product to be manufactured in India, and it is expected to be launched in the market in October 2023. Best Agrolife Limited (formerly known as Sahyog Multibase Limited) was incorporated as a Public Limited Company on January 10, 1992. The company is a leading agrochemicals manufacturer and is among the top 15 agrochemical companies.

     Acquisition and partnerships

• In 2021, Badische Anilin und Soda Fabrik (BASF) acquired the rights to pyroxasulfone from Bayer CropScience . This acquisition gave BASF a leading position in the pyroxasulfone market, and it also allowed the company to expand its portfolio of herbicides. BASF SE, an initialism of its original name Badische Anilin- und Sodafabrik, is a European multinational company and the largest chemical producer in the world. Its headquarters are located in Ludwigshafen, Germany. Bayer AG is a German multinational pharmaceutical and biotechnology company and is one of the largest pharmaceutical companies and biomedical companies in the world.
• In 2022, Syngenta and Sumitomo Chemical announced a partnership to develop and commercialize pyroxasulfone-based products. This partnership is expected to help both companies expand their reach in the pyroxasulfone market. Syngenta AG is a provider of agricultural science and technology, in particular seeds and pesticides with its management headquarters in Basel, Switzerland. It is owned by ChemChina, a China-based state-owned enterprise. Sumitomo Chemical Co., Ltd. is a major Japanese chemical company. The company is listed on the first section of the Tokyo Stock Exchange and is a constituent of the on the Nikkei 225 stock index. It's a member of the Sumitomo group and was founded in 1913 as a fertilizer manufacturing plant.

Figure 2. Global Pyroxasulfone Market Share (%), by Formulation, 2023

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Top Companies in the Pyroxasulfone Market

• BASF
• Syngenta
• Bayer CropScience (formerly Monsanto)
• DowDuPont (now Corteva)
• FMC Corporation
• ADAMA Agricultural Solutions

Definition: Pyroxasulfone is a selective herbicide used for pre-emergent control of various weed species in certain crops. The "pyroxasulfone market" refers to the industry or commerce related to the production, distribution, and sale of pyroxasulfone as a product to various end users, primarily agricultural sectors.

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