July 18, 2024
Pyrethroids Market

Global Pyrethroids Market Is Estimated To Witness High Growth Owing To Increasing Demand from Agriculture Sector

The global Pyrethroids Market is estimated to be valued at US$ 3781.9 million in 2021 and is expected to exhibit a CAGR of 5.18% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:
Pyrethroids are synthetic insecticides derived from the naturally occurring pyrethrins found in the flowers of Chrysanthemum cinerariaefolium. They are widely used in agriculture to control insect pests in various crops such as cereals, fruits, vegetables, and cotton. Pyrethroids provide effective control against a wide range of pests and are favored over other insecticides due to their low toxicity to humans and mammals.

B) Market Dynamics:
The Pyrethroids Market is driven by several factors, including the increasing demand for food production due to the growing global population. Farmers are increasingly adopting pyrethroid-based insecticides to protect their crops from pests and ensure higher yields. Additionally, the rising prevalence of vector-borne diseases such as malaria and dengue fever has fueled the demand for pyrethroids for use in public health programs for insect control.

Another driver for the market is the growing awareness regarding the harmful effects of conventional insecticides on human health and the environment. Pyrethroids are considered safer alternatives as they have low toxicity to humans and are less persistent in the environment compared to other insecticides.

C) Segment Analysis:
The Pyrethroids Market can be segmented based on type, application, and region. Based on type, the market can be further divided into bifenthrin, lambda-cyhalothrin, cypermethrin, deltamethrin, and others. Among these, bifenthrin is expected to dominate the market due to its wide usage in agriculture and public health programs.

D) PEST Analysis:
Political: The use of pyrethroids is regulated by government authorities to ensure their proper and safe use in agriculture and public health programs.

Economic: The demand for pyrethroids is influenced by the economic conditions of the countries where they are used. Developed countries with a high agricultural output and strong public health programs contribute significantly to the market.

Social: The increasing awareness about the harmful effects of conventional insecticides on human health and the environment has led to a shift towards safer alternatives like pyrethroids.

Technological: Advancements in formulation technologies have led to the development of more effective and efficient pyrethroid-based insecticides.

E) Key Takeaways:
– The Global Pyrethroids Market Size is expected to witness high growth, exhibiting a CAGR of 5.18% over the forecast period, due to increasing demand from the agriculture sector and public health programs.
– Asia-Pacific is the fastest-growing and dominating region in the market, driven by the presence of large agricultural economies such as China and India.
– Key players operating in the global Pyrethroids Market include BASF S.E., Bayer Cropscience AG, FMC Corporation, DowDuPont, Monsanto Company, Nufarm, SinoHarvest Corporation, Syngenta A.G., Sumitomo Chemical, and United Phosphorus. These players focus on product innovation and strategic partnerships to strengthen their market presence.

Overall, the global Pyrethroids Market is projected to experience significant growth due to the increasing demand for effective insecticides in agriculture and public health programs. The adoption of pyrethroids as safer alternatives to conventional insecticides is expected to drive market growth in the coming years.