Market Challenges And Opportunities

Abamectin Market: Drivers

New product launches is expected to boost growth of the abamectin market. For instance, in January 2018, Y-TEX Corp., a leading supplier of pest control solutions and livestock identifications, launched its new TRI-ZAP insecticide ear tags for beef and dairy cattle. TRI-ZAP contains abamectin along with two other ingredients, zetacypermethrin and piperonyl butoxide, making it most effective fly control product for cattles.

Furthermore, mergers and acquisitions by key players for development of new insecticide products is expected to drive growth of the abamectin market. For instance, in June 2017, American Vanguard Corporation announced that AMVAC Chemical Corporation, which is a subsidiary of American Vanguard Corporation, acquired abamectin insecticide, along with two other pesticides from Adama Agricultural Solutions Ltd. to market these products in the crop protection market within the U.S.

Abamectin Market: Restraints

Ban on abamectin products is expected to hamper growth of the abamectin market. For instance, in January 2016, Confidence Analytics published blacklist of pesticides, which are banned for use in crops. Abamectin was one among the drugs in the blacklist due to formation of reproductive system toxicity in human beings and aquatic life.

Furthermore, other new product launches with greater efficiency than abamectin is projected to restrain growth of the abamectin market. For instance, in September 2017, VIRBAC Australia came up with first broad spectrum formulation, Tridectin, which has greater potency than abamectin products. Tridectin contains Moxidectin, Levamisole, and Albendazole, a powerful triple formulation that is effective against worms. These triple formulations are beneficial and highly effective since it is difficult for pests to acquire resistance to them, than single pesticide containing formulations which have acquired resistance.