GLOBAL PYRETHROIDS MARKET TO SURPASS US$ 5.71 BILLION BY 2025

The global pyrethroids market was valued at US$ 3.82 billion in 2016 and is expected to reach US$ 5.71 billion by 2025, witnessing a CAGR of 4.65% during the forecast period (2017 - 2025). According to a Pyrethroids MarketReport, by Product Type (Bifenthrin, Deltamethrin, Permethrin, Cypermethrin, Cyfluthrin and Others), by Crop Type (Crop Based and Non-crop Based). Pyrethroids are a class of synthetic compounds that are based on chemical structure of naturally occurring insecticide pyrethrins. They are a broad-spectrum potent insecticides that control insects at low application rates. Pyrethroids are safer for humans as compared to organophosphates as mammals have extensive enzyme systems that are capable of metabolizing and detoxifying pyrethroids. They are widely used to control insect pests, such as ants, fleas, termites, bed bugs. The pyrethroid is effective and low cost insecticide for commodity crops, specialty crops, controlling fire ant quarantine in many crops, and nursery plants, controlling pests such as mosquitoes, flies, ticks that transfer pathogens of diseases, such as Zika, Lyme, and West Nile to humans, livestocks, and pets is driving the growth of global pyrethroid market.

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Key Trends and Analysis of the Pyrethroids Market:

Bifenthrin segment accounted for the largest share exceeding 35% in 2016 and is expected to retain market dominance throughout the forecast period. Bifentrhin segment finds wide application in the agricultural and residential sector. It is highly effective against several pests, such as red fire ants, moths, beetles, moths, mites, and spiders. Furthermore, bifenthrin finds wide application in the textile industry as well in order to protect the textiles against insects. China, EU, India, U.S, and Turkey are some of the major economies for textiles. Therefore, the demand for bifenthrin, as a pyrethroid is significantly high in these economies.

The demand for permethrin is rising significantly, owing to its wide range of applications as an insecticide for crop protection, killing livestock parasites, preventing insect attacks on woolen products, disinfection in the aviation industry, and treating head lice. It is used as insect repellent in timber treatment, pet flea preventative treatments, and mosquito repellent clothing. It is one of the registered option available to treat military clothing.
Based on crop types, the crop based segment held a dominant position in 2016 and is expected to maintain its supremacy throughout the forecast period. Pyrethroids are used as insecticides for protecting cereals and grains, oilseeds and pulses, fruits, and vegetables. They are preferred as pesticides due to their low input cost, which provides them with a broad spectrum as pest control. According to the Pyrethroids Working Group, an alliance of the pesticide industry, pyrethroid has benefitted the U.S. economy by contributing more than US$ 1.6 billion on account of their wide application in specialty and commodity crops.

Key Takeaways of the Market:

According to Coherent Market Insights, Asia Pacific accounted for the largest market share in 2016 and is expected to retain its supremacy throughout the forecast period. This is attributed to the growing demand for insecticides in agriculture. The growing demand for food grains due to increasing population has resulted in increasing demand for pyrethroids in order to improve crop yield. China’s industrial sector awarded Jiangsu Yangnong Chemical Group Co. Ltd., the China Industry Award for its green efficient pyrethroids development and application program in December 2016, which has boosted the growth of pyrethroids.

The global market for pyrethroids is marked by some intense competition from the major manufacturers. Mergers and acquisitions, joint ventures and partnerships, and geographical expansions are some of the key strategies adopted by these companies in order to ensure long term sustenance in this market. In March 2017, FMC Corporation acquired a significant portion of DuPont Crop Protection business to be divested with the European Commission ruling, which is related to the merger of DuPont with The Dow Chemical Company during the same period. FMC Corporation expects to generate revenue of US$ 1.5 billion in this year through this acquisition.

The key players operating in the global pyrethroids market include BASF S.E, Bayer Cropscience A.G., FMC Corporation, DowDuPont, Monsanto Company, Nufarm, SinoHarvest Corporation, Syngenta A.G., Sumitomo Chemical, and United Phosphorus.

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This release was published on openPR.