Global Picolinafen Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Picolinafen Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Picolinafen market finds that the global Picolinafen market reached a value of USD 29.36 million in 2022. It’s expected that the market will achieve USD 43.77 million by 2028, exhibiting a CAGR of 6.88% during the forecast period.

Impact of Russia and Ukraine War

Russia and Ukraine War has a severe impact on both upstream supply and downstream demand for herbicides.

The disruption caused by the Russia-Ukraine conflict resulted in the upsurge of upstream Crude prices and chemical raw materials, impacting the picolinafen market. The geopolitical tension inflicted the upstream crude, which severely affected the petroleum feedstocks impacting rail and road transportation with congestion across black sea. Furthermore, the continuation of Europe's energy crisis following the suspension of Russian gas after their invasion of Ukraine led to a significant price increase.

Russia and Ukraine together account for 25-30% of global wheat production. Sanctions against Russia and the crippling of Ukraine’s agriculture industry have sent the price of wheat and various other commodities skyward and disrupted supplies in the global food production chain.

In the agrochemical sector, Russia is the second largest producer of ammonia (23 percent of global export), urea (14 percent of global export) and potash (21 percent of global export). It is also the fifth-largest producer of complex phosphates (10 percent of global export). Several countries including Brazil, Estonia, India, China and United States heavily import fertilizers from Russia. Due to the sudden dearth in supplies and sky-high prices, many countries are scaling back its use and applying less fertilizer to their crops, others are opening protected indigenous lands for the mining of potash while many are reverting to using manure to nourish their crops. India is a leading importer of fertilizers to meet the demands of its agriculture sector which accounts for 15 percent of the $2.7 trillion economy. The country annually imports 4 million to 5 million tons of potash, out if this, a third of it comes from Belarus and Russia, reported Reuters. The country is now turning to Canada and Israel to replace its Russian supplies.

Farmers around the world are also contending with pesticide and herbicide shortages. With general inflation at 40-year highs in the West, the cost of materials higher due to pandemic-related supply chain issues and fuel prices hitting new peaks, operating costs for farmers have rocketed.

Awareness of the benefits of picolinafen is growing

Picolinafen is a selective, post-emergence, aryloxypicolinamide or nicotinanilide herbicide for use on winter cereals, such as wheat, barley, oats, rye and triticale for control of meadow grasses and annual broad-leaved weeds including: poppies, field pansies, Broad-leaved Weeds, fumitory, cranesbill, wild radish and hedge mustard. Picolinafen is absorbed through the leaves and roots and works by inhibiting the activity of phytoene desaturase, an enzyme in the carotenoid biosynthesis pathway in susceptible plant species. This leads to a reduction of carotenoid pigments in the leaf chlorophyll and therefore disruption of photosynthesis. It is highly effective on perennial and parasitic weeds and closely planted crops compared to manual and mechanical weeding. It is safe on erodible and sloppy lands where tillage may promote soil and water erosions. Apart from this, picolinafen offer several benefits, such as high efficiency, easy application, cost-effectiveness, early and timely planting of crops, and lesser loss of nutrients and moisture from the soil. Farmers' increasing awareness of the benefits of Picolinafen among growers is driving the development of the market.

The challenge of environmental protection

Picolinafen industry belong to the fine chemical industry, and the main raw materials, some products and three wastes such as wastewater, waste gas and solid waste produced in the production process pollute the environment. If there are environmental pollution accidents caused by improper management in the production process, the enterprise will be punished by the regulatory authorities or compensate other parties for losses. If the regulatory authorities require the company to suspend production for rectification or close some production facilities, it will have a significant adverse impact on the company's production and operation. In addition, with the strengthening of national environmental protection, stricter environmental protection standards will be introduced in the future, and the investment and expenditure of manufacturers in environmental protection will increase correspondingly.

Region Overview:

Geographically, Europe held the largest market share – 83.53% in 2022.

Company Overview:

BASF is one of the major players operating in the Picolinafen market, holding a share of 83.02% in 2023.

BASF

BASF is a company that provides petrochemicals, intermediates, performance materials, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals. It conducts its operations through six business segments, including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition and Care, and Agricultural Solutions. The company serves transportation, energy and resources, construction, consumer goods, electronics, health and nutrition, and agriculture industries.

Nantong Jiahe Chemicals

Nantong Jiahe Chemicals is a professional manufacturer and exporter specializing in the design, development and production of chemical intermediates and pesticides.

Segmentation Overview:

As for product types, the Suspension Concentrate (SC) segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Meadow Grasses, with a market share of 53.17% in 2022.

Key Companies in the global Picolinafen market covered in Chapter 3:

BASF
NanTong Jiahe Chemicals

In Chapter 4 and Chapter 14.2, on the basis of types, the Picolinafen market from 2018 to 2029 is primarily split into:

Suspension Concentrate (SC)
Emulsifiable Concentrate (EC)
Water Dispersible Granules (WG)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Picolinafen market from 2018 to 2029 covers:

Meadow Grasses
Broad-leaved Weeds

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)