What are the Top Key Players in Abamectin Market?

Abamectin Market: Introduction

Abamectin is a macrocyclic lactone product derived from Streptomyces avermitilis, a soil microorganism. Abamectin possesses similar biological and toxicological properties of B1a and B1b components. It is used to control insect and mite pests of citrus, pear. It is used by homeowners for control of fire ants. Abamectin is mostly used as a pesticide, insecticide, acaricide and on crops such as fruits, vegetables, cereals, and grains. Abamectin is primarily available as a combination of avermectins, containing more than 80% avermectins B1a and less than 20% avermectins B1b. Abamectin is rapidly degraded in soil. Abamectin is an extremely toxic chemical though most formulated products contain abamectin at low concentration for application in mammals. Abamectin is highly toxic to insects and can be toxic to mammals.

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Abamectin Market: Segmentation

The global abamectin market can segmented based on application and region. In terms of application, the market can be divided into fruits & vegetables, cereals & grains, oilseeds & pulses, and turf & ornamentals. The cereals & grains segment is anticipated to dominate the global abamectin market during the forecast period. Cereals & grains are staple foods among people across the globe. The total cereal production has been increasing; therefore, it is important for producers to focus the yield and quality by using different insecticides. This, in turn, is estimated to augment the demand for abamectin during the forecast period.

Abamectin Market: Regional Outlook

Based on region, the global abamectin market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Factors such as increasing concerns of insect transferrable diseases, rising demand for food grains, growing populations, rising in crop losses due to pests, increasing research & development in crop practices are projected to boost the market in North America during forecast period. Increase in demand for crop yield efficiency and rise in adoption of new farming practices are projected to drive the market in Latin America. Strict regulations posed by environmental protection agencies on pesticide residue limit on food crops is expected to reduce the use of synthetic pesticides and increase in demand for bio pesticides in the region. This, in turn, is projected to indirectly fuel the demand for abamectin as it is a type of bio pesticide. The abamectin market in Middle East & Africa is projected to expand at a significant pace during the forecast period. Expansion of the market can be attributed to the increasing population, wide range of pest control applications .and decreasing agriculture land. In Asia Pacific region, in countries like India where agriculture is key occupation of people, which drives people to use abamectin for better productivity of crop so Asia Pacific region is expected to dominate the global abamectin market during forecast period. Furthermore, increasing awareness on the usage of pesticides for efficient crop cultivation and protection in Asia Pacific is projected to drive the abamectin market in the region during forecast period. However, factors such as harmful impact of abamectin on human health and uncertainty of world economy are major restraints of the global market.

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Abamectin Market: Key Players

Major players operating in the global abamectin market are engaging in mergers and acquisitions. In 2017, AMVAC Chemical Corporation, a subsidiary of American Vanguard Corporation acquired abamectin insecticide and two other pesticides from ADAMA Agriculture Solutions, Ltd. to market its products in crop protection market within the U.S. Major players operating in the market include Syngenta AG, BASF SE, Bayer AG, DowDuPont, FMC Corporation, Monsanto Company, ADAMA Agriculture Solutions, Ltd., Nufarm Limited, and United Phosphorus, Ltd.

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