Global Clethodim Market - 2023-2030

Overview:

Global Clethodim Market reached US$ 581.2 million in 2022 and is expected to reach US$ 954.6 million by 2030, growing with a CAGR of 6.4% during the forecast period 2023-2030.

Clethodim is a selective herbicide that is frequently used to manage a variety of grass weeds in broadleaf crops. Additionally, a rise in the demand for clethodim blended component combinations will boost market expansion throughout the projection period.

To combat biotic and abiotic stressors, peanuts are treated with a wide variety of agrochemicals. The effectiveness of clethodim and sethoxydim administered alone or in combination with dimethenamid-P, pyraclostrobin, S-metolachlor, and 2,4-DB was tested in experiments. When used in conjunction with clethodim, pyraclostrobin frequently resulted in less effective control of major crabgrass and goosegrass than clethodim alone.

For instance, Adama introduced the herbicide DAVAI A PLUS (Clethodim + Imazamox) in Canada on February 15, 2023. It is a brand-new plant protection solution for all species of beans and soybeans.

Dynamics:

Increasing Demand for Clethodim Registrations Associated With Soybean Production Promotion

The global development of soybean production will increase the need for herbicides, and as a consequence of this herbicide demand, there will be opportunity for the clethodim market to expand. China's soybean imports hit a record high of 101 million metric tons (MMT) in marketing year (MY) 22/23 on September 7, 2023, according to the USDA, due to soaring imports that reached 84.3 MMT through July.

The fact that the Chinese Ministry of Agriculture's guideline for promoting soybean production encouraged pesticide producers to submit clethodim registration applications also contributed to the spike in the number of clethodim registrations. Over 80% of China's total soybean demand, or slightly over 115 million tonnes, was imported in 2022. In order to lessen this dependency, the government plans to produce over 36 million tonnes of domestic soybeans by 2032, up from the 20 million tonnes produced in the previous year.

Increasing Demand For Selective Herbicide

The herbicide is increasing due to the growing demand for organic food and improved public consciousness of the advantages of utilizing selective herbicides. Additionally, it's miles predicted that increased patron demand for genetically changed plants would power up the rate of selective herbicides. Clethodim, a put-up-emergence herbicide, is employed to control not unusual grasses, especially stray grains.

Furthermore, clethodim has developed into a significant herbicide and a major export due to its extensive use on field crops including soybean and rapeseed. Major corporations increase their manufacturing capacity. For instance, Rainbow Agro will spend RMB2.68 billion on the manufacturing of 2,4-D, flumioxazin, and clethodim on February 14, 2023. To build a production facility with an annual capacity of 8,000 tons of clethodim technology, the business expects to invest RMB798.0479 million on the product, including RMB733.6948 million from financing.

High Production Cost

The price of clethodim was RMB110,000 yuan per ton in 2021, according to the Sino Agri Technical Material Price Index, but by the fall, as a result of various factors including environmental compliance regulations, energy control, limited power supplies, and price increases of basic chemical raw materials, the price of clethodim technical started to rise continuously and rapidly, reaching a historical high of RMB220,000 yuan per ton in December 2021. Since prices would now be higher, market expansion would be hampered.

In addition, building a production facility to create clethodim components requires large expenditures, which will restrain market expansion. As an illustration, Rainbow's Ningxia Hanrun Biotechnology Co., Ltd. launched its 8,000-ton clethodim project at Pingluo Industrial Park on July 17, 2023, after finishing construction on its R&D facility. An annual 8,000-ton clethodim facility is included in the proposal, with a total investment of RMB 790 million yuan.

Segment Analysis:

The global clethodim market is segmented based on type, distribution channel, application and region.

Demanded Soybean Production

The cultivation of soybeans has significant obstacles from weed infestation and water constraints. Better measures are thus needed to manage the weeds. Clethodim is a selective herbicide that is frequently used for weed control as a result of this weed control. For instance, the herbicide Willowood Clethodim 2EC manages a variety of the hardest annual and perennial grasses in soybean fields.

Additionally, the emergence of glyphosate-resistant grassy weeds in soybean fields has given clethodim opportunities to be used with a larger variety of crops. Due to its better selectivity and significant growth potential, clethodim has emerged as a post-seedling herbicide for use in dry fields due to its benefits of safety, minimal residue, high efficiency, and low toxicity. Among the cyclohexenone herbicides, Clethodim has the major market share and is well-liked by farmers.

Geographical Penetration:

Europe Dominates the Clethodim Market

Due to its significant agricultural industry and the necessity to manage grass weeds in plants like cereals, corn, and soybeans, Europe changed into in fact one of the major markets for clethodim. Herbicides based on clethodim have been widely utilized in agriculture in European countries inclusive of France, Germany, and the United Kingdom. The vicinity used to provide soybeans inside the EU-27 has more than quadrupled over the previous ten years, in step with statistics made public by means of the EU Commission. Almost 958,000 hectares, or nearly 2.37 million acres, will be planted with soybeans in 2021. This is a growth of about 2% over the preceding year.

In addition, major companies also registered their products and expanded them into the European market. For instance, Clethodim EC, which has been registered in Poland and will be authorized in other countries, was the first formulation that Rainbow successfully registered in the European Union (EU) on December 21, 2022. The Rainbow team's trust in the EU market strategic strategy will be bolstered by this initial formulation registration, which will also further increased the EU market's expansion.

Competitive Landscape

The major global players include: Sipcam Oxon Spa, Albaugh LLC, MEY Corporation, FMC, Yifan Bio-tech Group Co., Ltd., SWAL CORPORATION LTD., Beijing Yingtai Jiahe Biotechnology Co., Ltd., UPL, ADAMA and Rainbow Agro

COVID-19 Impact Analysis:

The agriculture and agrochemical industries were affected differently by the COVID-19 pandemic, which may have had an impact on the clethodim market. Initial supply chain interruptions and logistical issues made it difficult to produce and distribute agrochemical goods, which could have had an impact on the accessibility of clethodim-based herbicides. Herbicide deliveries to farmers may have been delayed, which may have affected weed control efforts.

Furthermore, farmers' purchasing decisions could have been impacted by the pandemic's economic effects on the agriculture industry. Reduced revenue, market unpredictability, and changing priorities may have prompted some farmers to reevaluate their herbicide selections, which might have had an effect on the demand for clethodim. The intensity and duration of the pandemic, the effectiveness of the government's support programs, and the dynamics of the local agriculture sector will all have an impact on how much these consequences are felt.

Russia-Ukraine War Impact Analysis:

The war between Russia and Ukraine may have a variety of effects on the clethodim market. The country of Ukraine produces a lot of food, especially vast crops of grains and oilseeds. The demand for herbicides like clethodim may be impacted by any disruptions to Ukraine's agricultural activity as a result of the conflict, such as decreased planting or export restrictions.

In addition, Ukraine is a significant exporter of agricultural products, so any disruptions to its agricultural output might have an effect on world pricing and supply chains, which would in turn have an indirect impact on farmers' purchasing power and herbicide preferences everywhere.

By Type

• Clethodim 90% Pure
• > Clethodim 90% Pure

By Distribution Channel

• E-Commerce
• Specialty Stores
• Hypermarket/Supermarket
• Others

By Application

• Soybean
• Oilseed Rape
• Cotton
• Peanut
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• On April 28, 2023, The production of mother liquor and clethodim technical will be produced annually at a cost of RMB65.60 million by the Chinese agrochemical company Cynda in the Boxing County Economic Development Zone. This project is intended to meet the company's strategic development needs.
• On June 30, 2023, Clethodim 480g/l EC (for export only), a low-toxic herbicide, was successfully registered by Jiangsu Yunfan Chemical Co., Ltd., a division of Yifan Group. The registration is valid until May 7, 2028, and the certificate number is EX20230025.
• On June 30, 2023, Clethodim, 2,4-D, and flumioxazin manufacture will cost Rainbow Agro RMB2.68 billion. In order to construct a manufacturing facility with an annual capacity of 8,000 tons of clethodim technology, the firm wants to invest RMB798.0479 million in the product, which includes RMB733.6948 million from the financing.

Why Purchase the Report?

• To visualize the global clethodim market segmentation based on type, distribution channel, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of clethodim market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global clethodim market report would provide approximately 61 tables, 59 figures and 191 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies