Picoxystrobin is a suspension concentrate, which is trans-lamina and systemic fungicide with preventive, curative, and systemic activity for use on canola, cereal grains except rice , dried peas, corn, and soybeans. This type of fungicide inhibits mitochondrial respiration by blocking electron transfer at the quinone outside center of cytochrome bcl. It is used on various crops such as corn,
soya bean, wheat, canola, and oats. It was initially launched as Acanto by Syngenta in Europe. Acanto was primarily launched for the control of yellow, brown, and crown rusts; powdery mildew; sooty mold; net and leaf blotch; and tan spot on cereal crops such as wheat, barley, and oats. The product is majorly marketed and commercialized by DuPont.
Picoxystrobin is marketed as a single ingredient fungicide, It is also in several mixtures with other fungicides such as cyproconazole (Furlong, Stinger, and Aproach Prima); chlorothalonil (Credo and Plinker); and cyprodinil (Acanto Prima).
Rise in demand for picoxystrobin is largely attributed to the developing and advancing agriculture sector in various regions around the world. Strong growth in the agriculture sector in regions such as Latin America is also expected to boost the picoxystrobin market. However, availability of low-cost substitutes is anticipated to hamper market growth during the forecast period. Furthermore, the high initial investments and expertise required in the manufacturing process are estimated to restrict the entry of new players in the market.
Based on geography, the global picoxystrobin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Picoxystrobin is currently registered in the 28 countries. These include Argentina, Austria, Belgium, Brazil, Colombia, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Kenya, Latvia, Lithuania, the Netherlands, New Zealand, Norway, Poland, Romania, Slovakia, South Africa, Sweden and the UK. Led by the rapid development in the agriculture sector in China, India, Australia, New Zealand, and Thailand, the picoxystrobin market in Asia Pacific is projected to expand and dominate the global market during the forecast period. North America and Europe are estimated to follow Asia Pacific. The picoxystrobin market in Latin America is anticipated to expand at a significant pace during the forecast period. The market in Middle East & Africa is projected to witness considerable growth during the forecast period due to the rise in advanced agricultural practices in South Africa.
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The global picoxystrobin market is consolidated; major producers dominate the global market. Key players operating in the market include E.I. du Pont de Nemours and Company, Shanghai Bosman Industrial Co., Ltd. and other Chinese players.