Global Pyrethroid Insecticide Market- Growth, Trends and Forecasts (2017 - 2022)
The global pyrethroid insecticides market has been estimated at USD 4.67 Billion in 2015 and is projected to reach USD 6.45 Billion by 2021, at a CAGR of 5.2% during the forecast period from 2016 to 2021. A pyrethroid is an organic compound that are synthetic analogs of pyrethrins. These pyrethrin like compounds are widely used against number of insects including household arthropods. These products are low in toxicity to mammals and birds, and require very low doses to kill insects.
Having known for more than 40 years, the insecticidal properties of pyrethrin are well known. Pyrethroids, the synthetic derivatives of pyrethrins, have become one of the oldest and most widely used insecticides around the globe. The systemic insecticide acts as a nervous toxin and leads to paralysis and eventual death of the targeted insects.
Pyrethroid insecticide market is driven by the need to increase crop yield and efficiency. The worldâ€™s population is growing, but the farmlands have been decreasing pushing farmers to increase their yields. New farming practices are adopted by farmers all over the world to increase crop yields. Genetically modified (GM) plants have helped farmers increase their yields coupled with the reduction of use in some pesticides. These factors coupled with high performance of pyrethroids against insects have led a continuous market growth for the industry. Product development, sustainable farming options and growing demand from developing regions are identified as the opportunity segments for the industryâ€™s future growth. However, issues over product labeling and popularity of bioinsecticide products may act as obstacles for market growth.
The market is classified based on the active ingredients, crop types and geography. Depending on active ingredients, the market is classified into Perimethrin, Deltamethrin, Allethrin/Bioallethrin, Cypermethrin, Permethrin and Other Pyrethroids. For various crops, diverse insecticides are used. Pyrethroid insecticides are also segmented by their usage in crops like cereals and grains, oilseeds, fruits and vegetables etc. Non-crop utilization of insticides in turfs, ornamentals and others is also studied. Market study indicated that Cereals and grains consumed the highest market in the use of insecticide products. This can be attributed to the food safety and wide variety of uses of cereals and grains.
The market is also segmented geographically into North America, Europe, Asia-pacific, South America and Africa. Asia-Pacific has the largest consumer base in the world. North America and Europe followed the list. The rising disposable income levels, rising population and food security have made Asia-pacific, the region with maximum potential for growth. The emerging economies including China, India, Vietnam and Thailand are the major consumers of pyrethroid insecticides for application in various cereal and grain crops. Due to strong government control over the harmful effects of chemicals, the market in Europe would grow at a rather static pace.
Pyrethroid inseticides gain popularity over low application rate and environmental safety compared to other classes of insecticides. Accounting for more than 35% of the global insecticide market share, the segment attracts great deal of investments from agricultural inputs companies. The major companies in global pyrethroid insecticides market are Syngenta, Bayer, BASF, DuPont, Dow agrosciences, Monsanto, Adama, Nufarm, Sumitomo chemical, UPL etc. The current trend to survive in the market is the research and innovation route. All major companies are investing profoundly in new product development to keep up with competition and gain market share.
Key Deliverables in the Study
Market analysis for the Global Pyrethroid Insecticide Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the Global Pyrethroid Insecticide market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to identify the regions that are still untapped
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook