Key Growth Opportunities in the Insecticides Market | Key Players are SGS S.A., Intertek Group plc, ALS Limited, Eurofins Scientific SE, Bayer CropScience Ag, FMC Corporation, ADAMA Agricultural Solutions Ltd., Nufarm Limited

The insecticides market is estimated to be valued at USD 14.5 billion in 2017; it is projected to grow at a CAGR of 5.8%, to reach USD 19.3 billion by 2022. The key factors that are projected to drive the insecticides market during the forecast period are; fall in the per capita arable land, increasing crop losses due to insect attacks, and advancement in farming practices & techniques. Also, increasing global exports and rise in instances of crop losses due to insect infestation are resulting in an increased market for insecticides, globally. The basic objective of the report is to define, segment, and project the global market size for insecticides on the basis of type, crop type, mode of application, and formulation.

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Organophosphorus segment dominated the insecticides market

Organophosphates are the most widely used insecticides as they is cheaper than other alternatives. Currently, organophosphates still find use in agriculture, homes, gardens, and veterinary practices; however, several organophosphates have been discontinued for use in the past decade. Though the market for orgaophosphates as insecticides is growing steadily, there are high risk factors associated with the production of the same. Stringent government rules on usage of chemical insecticides, coupled with the advent of bioinsecticides as a potent substitute, are the key factors restraining the growth of organophosphate insecticides market.

Granules is projected to be the fastest growing segment in the insecticides market, by formulation

Granules are ready-to-use active ingredients mixed with water or solvent to apply over the plants. With their ready-to-use properties, granules are projected to grow at the highest rate during the forecast period. The increasing crop losses due to insect attacks, advancement in farming practices & techniques, and fall in the per capita arable land are the major drivers of the insecticides market.

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Emerging markets for insecticides in Asia Pacific

Agricultural expansion for livelihood security in countries such as China and India, are the major factors contributing to the increasing sales of insecticides in this region. The developing economy in this region and inconsistent regulations on pesticides usage across different countries are the major factors contributing to the exponential growth of the Asia Pacific insecticides market as compared to other regions. Asia Pacific has wide climatic variations and a high degree of plant diversity. Hence, the use of insecticides is widespread throughout the region. The increasing awareness about pesticides and continuous technological advancements are factors contributing to the growth of this market. In addition to this, the growing demand for crops and rising cultivation in the countries of Asia Pacific have forced agribusiness companies to expand their supplier and manufacturing base in the region.

Key players identified in the global insecticides market include BASF SE (Germany), Corteva Agriscience (US), FMC Corporation (US), ChemChina (China), Bayer CropScience (Germany), which are among the key players of the insecticides market as these are well-established and financially stable players that have been operating in the industry for several years. Most key participants have been exploring new regions through expansions, investments, new product launches, and acquisitions across the globe to avail a competitive advantage through combined synergies.

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