Polyoxin Market Overview
Polyoxin Market size is estimated to reach $2.3 billion by 2027, growing at a CAGR of 3.7% during the forecast period 2022-2027. Polyoxins fall under the category of fungicides which are commonly referred to as a group of nucleoside antibiotics are crafted from nitrogen-holding heterocyclic moieties. There are various categories of polyoxins such as B and D. Polyoxins hinder the process of chitin biosynthesis, a process that forms complex products through substrate conversion with the help of chitin synthetase. Competitive inhibitors are a function that occurs to the molecules very similar to the substrate molecules bind to the active site and prevent binding of the actual substrate. Chitin is a polymer present in excess in the cell walls of fungi. The polyoxins market outlook is enchanting owing to the increasing application of polyoxins as fungicides in agriculture and for home-usage. Furthermore, the gene cluster responsible for the biosynthesis of polyoxins has been cloned and sequenced from Streptomyces cacaoi/ streptomycetes and tens of polyoxin analogs. They are of great help to imprison the growth of grass or turf on sports grounds. The efficacy of these nucleoside antibiotics in regulating the bugs associated with plants are factors set to drive the growth of the Polyoxin Industry for the period 2022-2027.
The report: “Polyoxin Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Polyoxin Market.
By Type: Polyoxin B, Polyoxin D.
By Form: Dustable powder, Emulsifiable powder, Wettable powder.
By packaging: Plastic pouches, Bottles, and Cans.
By Usage: Flower-based crop, Food crops, Park and ground turf, and others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).
- Geographically, the North America Polyoxin Market accounted for the highest revenue share in 2021. However, the Asia- Pacific is poised to dominate the market over the period 2022-2027.
- Proliferating demand for agriculture harvest as the population is accruing day after day is said to be a preeminent driver driving the growth of the Polyoxin Market. Toxins linked with polyoxins can be dangerous to humans and animals which is said to reduce market growth.
- Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Polyoxin Market report.
Polyoxin Market- Geography (%) for 2021.
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Polyoxin Market Segment Analysis-By Type
The Polyoxin Market based on the type can be further segmented into Polyoxin B, Polyoxin D. The polyoxin B segment held the largest share in 2021. The growth is owing to its more usefulness and far-reaching applications as compared to polyoxin D. Polyoxin B is not only confined to hindering the growth of unwanted grass in public parks, gardens, and sports grounds but they are used in the production of several food items, fruit, and even flowers. Polyoxin B helps in the growth of crops like rice by hindering the Alternaria spp and Botrytis spp which are the group of funguses that promotes putrefaction and decaying of crops. As per FAO, around 499.6 million tons of rice have been globally produced. Similarly, the polyoxins B segment is estimated to be the fastest-growing with a CAGR of 4.6% over the forecast period 2022-2027. This growth is owing to the growing demand for food as the population is augmenting, shooting up usages of fruit and green leafy vegetables as people are becoming more health-conscious.
Polyoxin Market Segment Analysis-By Form
The Polyoxin Market based on the form can be further segmented into Dustable powder, Emulsifiable powder, and Wettable powder. The wettable and dustable powder segment held the largest share in 2021. The growth is owing to little to no skin and eye allergies. Moreover, they are odor-free and don’t require much expertise in handling and storage. In porous surfaces, the wettable powder mixed with water leaves a long-lasting residual effect. Its effects last long up to 80-90 days as compared to other alternatives. Additionally, wettable powders are constructed in a way that they comprise no solvents which result in lower phytotoxicity. Besides, the emulsifiable powder segment is estimated to be the fastest-growing segment with a CAGR of 4.8% over the forecast period 2022-2027. This growth is owing to the low cost of manufacturing due to low and simple equipment requirements, ease of store, and good biological activity.
Polyoxin Market Segment Analysis-By Geography
The Polyoxin Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 31% of the overall market in 2021. The growth in this segment is owing to the factors such as high awareness among farmers and people regarding agriculture tools and techniques. The existence of various baseball, golf, and other grounds. Around 30 major baseball stadiums exist within the US. Moreover, the far-reaching existence of parks in North American countries like the US and Canada is the reason for the growth in this respective segment. However, Asia-Pacific is expected to offer lucrative growth opportunities over the forecast period 2022-2027. This growth is owing to agriculture-friendly schemes by the government, advancing technology, and colossal agriculture industry as Asia is the most populous continent on planet earth. Moreover, to tackle the growing pollution problems countries are setting up more and more parks.
Polyoxin Market Drivers
The growing agriculture industry is Anticipated to Boost Product Demand.
The accruing world population is putting extra weight on the agriculture industry. As the world population is expected to touch 9- 9.2 billion by 2040 the agriculture industry is also set to grow. According to a report crop production will rise by 65-70% by the year 2050. In addition to that, environmental complications like climate change are setting many diseases in motion. Therefore, considering the undermentioned factors like rising demand for agricultural harvest will eventually fuel the demand for fungicides like polyoxins.
Broadening sports culture, an increasing number of parks is Expected to Boost Product Demand.
The growing trends of sports culture is another big factor that is anticipated to be a big driver in the growth of the respective market. A report suggests that there are around 3.5 billion fans of soccer and the number is expected to intensify in the future due to a huge craze among the younger generation. Therefore, the number of football grounds is too anticipated to expand. Besides, as pollution situation is worldwide, especially in countries like India and China owing to carbon emissions. China and India contribute more than 30% of global CO2 emissions. Therefore, governments are setting up more parks to improve the air quality.
Polyoxin Market Challenges
Side effects posed by polyoxins are Anticipated to Hamper Market Growth.
Fungicides like polyoxins pose several hazardous effects to human health as well plants also. They are toxic in nature. According to the Encyclopedia of Agriculture and Food Systems, only 18% of pesticides fall into the category of low resistance risk. Any accidental intake through any router and exposure to such chemicals can be life-threatening. They may set many health problems like nausea, abdominal pain, breathing problems, and eye exasperation. Moreover, fungicides exposure can also make a person visually impaired. Moreover, they also lessen the fertility of the soil. These factors may hinder the growth of the polyoxins market.
Polyoxin Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Polyoxin Market. Key companies in this market are-
- Kaken Pharmaceutical
- Jiangsu Fengyuan Bioengineering
- OHP Inc
- Cleary Chemical Corp
- Shanxi Lvhai Agrochemicals
- Nufarm Limited
- Beijing Green Agrosino
- Arysta LifeScience
- Hanzhou Dayanchem Co
Recent Developments/Product Launches:
- On October 14, 2021, UPL announced a long-term collaboration with CHR Hansen to develop and commercialize microbial solutions for the purpose of sustainable agriculture. CHR Hansen is the owner of the largest commercial collection of bacteria with more than 28,000 strains. Through this collaboration, UPL will use its global presence to undertake research and identify opportunities and product concepts to address farmers’ pain points. From these insights, Chr. Hansen will design biological products based on their microbial capabilities and UPL will register and commercialize these products via its extensive global distribution network
- On June 27, 2019, Costa-Rica based chemical manufacturing company “Industries’ Bioquim Centroamercana SA” generally known as BioQuim acquired by Mumbai, India-based plant protection chemical producer “United Phosphorous Ltd” In the transaction, UPL bought 100% shares of BioQuim. Further, UPL Mauritius became, a subsidiary of UPL bought 100% share of Bioquim Group. The group is engaged in the business of producing, selling and marketing of agro-chemicals and crop protection products in Costa Rica and certain countries in the Caribbean and Central American Region.
- On February 4, 2019, Mumbai, India-based “United Phosphorous Ltd”, a company that manufactures plant fortification products and chemicals successfully acquired a chemical engineering firm “Arysta LifeScience Corporation.” The deal is brought to a close by UPL with a massive $4.2 billion payment. This move will enhance UPL’s spot in agriculture solutions.
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