Global Tembotrione Market to Enjoy Strong Growth Opportunities in Corn-Producing Nations: Transparency Market Research

April 27, 2015 | By Business Wire News

ALBANY, N.Y.

The new report from Transparency Market Research (TMR) presents a comprehensive view of global tembotrione market. The report is titled “Tembotrione Market for Corn and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”. According to the report, the global tembotrione market was worth US$21.7 million in 2013 and will reach US$51.2 million by 2020. The global tembotrione market will expand at a 13.4% CAGR during 2013 to 2020.

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Tembotrione was launched by Bayer CropScience AG in 2007. Previously, this herbicide was approved for use in countries such as Hungary, Austria, the U.S. and Brazil. Presently, Bayer has patented this technology and is the only firm manufacturing tembotrione. This patent will expire between 2015 and 2020, but has received an additional five years of data protection after the expiry date. This factor will reduce competition from generic versions of the product even after patent expiry.

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Global demand for tembotrione is expected to rise sharply in the near future due to growing resistance in weeds, particularly for other herbicides such as ALS inhibitors, glyphosate, and dicamba. According to a TMR analyst, “High demand for tembotrione will be witnessed till 2020, as a result of the increasing incidence of glyphosate-resistant weeds in several countries around the world.”

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Furthermore, the tembotrione market has strong growth opportunities in countries that are major corn producers, such as many in Asia Pacific. In 2013, corn contributed to over 90% of the global market for tembotrione. On a smaller scale, tembotrione is also used as a research commodity.

Article:http://www.transparencymarketresearch.com/article/global-tembotrione-market.htm

In 2013, North America dominated the global tembotrione market, holding a 55% share. On the other hand, Europe is the second largest and fastest growing tembotrione market.

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About Transparency Market Research

Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.