Europe Insecticides Market reach $23.36 billion by 2026, growing at a CAGR of 5.8%
Generation of waste in huge amount and upsurge in number of insects drive the growth in the market. However, storage and handling of insecticides restrain the market growth. On the other hand, stringent regulations for waste management create new opportunities in the industry.
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Adulticide segment to contribute its dominant share by 2026
Based on type, the adulticide segment accounted for nearly three-fourths of the total market share in 2018 and is expected to contribute its dominant share by 2026. This is attributed to presence of a large number of adult mosquitos and flies and need to prevent their growth before the breeding season. However, the larvicide segment would register the highest CAGR of 6.1% during the forecast period, owing to the role it plays in prevention of growth of mosquito population and mosquito-borne diseases.
Mechanical biological treatment to maintain its leadership status by 2026
Based on waste treatment method, the mechanical biological treatment segment contributed to around two-fifths of the total share in 2018 and will maintain its leadership status by 2026. This is due to positive environmental externalities that offer improved landfill efficacy, including the positive modification of leachate and landfill gas (LFG) production and quality. On the other hand, the incineration segment is estimated to register the highest growth rate with a CAGR of 6.3% from 2019 to 2026, owing to rise in concerns related groundwater contamination, lowered availability of land in many areas, and public health problems for landfills.
Italy to maintain its lead in terms of revenue during the forecast period
Based on country, Italy held the major share in 2018, accounting for nearly one-fifth of the total market share in terms of revenue. The country would maintain its lead during the forecast period. This is due to significant rise in organic waste generation. On the other hand, the market across Germany is estimated to grow at the highest CAGR of 6.7% from 2019 to 2026, owing to supportive government initiatives and rise in investment in technological developments in the waste management sector.
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Leading market players
Key market players analyzed in the research include BIODEGMA GmbH, Nehlsen AG, BTA International GmbH, Veolia, FCC Austria Abfall Service AG, Biffa, AMEY PLC, REMONDIS SE & Co. KG, Renewi PLC, and LafargeHolcim Ltd
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