Pyrethroid Market Expected To Grow At A CAGR Of 6.10% By 2027| Bayer Crop Science, Sumitomo Chemical, Syngenta, FMC Corporation, Nufarm, BASF, ADAMA Ltd, Dow

Recent research and the current scenario as well as future market potential of "Global Pyrethroid Market 2020".

The Global Pyrethroid Market is expected to grow at a CAGR of 6.10% during the forecasting period (2020-2027).

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Pyrethroid is an insecticide derived by synthetic modification of natural pyrethrins that are extracted from flowers of Chrysanthemum. These are used for control of variety of insects in industries, residences, and in agricultural activities. These organic compounds are considered as relatively safe insecticides to mankind owing to their lower mammalian skin absorption. Pyrethroids has lower toxicity compared to organophosphate insecticides, thus making it insecticide of choice for household pest management applications.

Global Pyrethroid Market - Dynamics:

The rising awareness towards efficiency of pyrethroids for use in control of wide array of insects with minimal effect on humans, birds, and animals is the major factor driving the growth of pyrethroids market. The high selective toxicity of these compounds enable easy and effective use for insect control in household and agricultural communities. Moreover, the growing need for pest management in agriculture owing to quality and quantity concerns of agricultural produce is further boosting the demand for pyrethroids across the globe. The growing population has been rising the demand for both food and commercial crops. Pyrethroids and other forms of pesticides evolved as an essential tool for farmers and crop growers to increase food productivity. According to The Food and Agriculture Organization (FAO), the global population is likely to reach 10 billion by 2050 and would result in a growth of over 50% in agricultural demand as compared with 2018.

The rapid photodegradation and high susceptibility to moisture and heat is limiting the effectiveness of pyrethroids in agriculture and other open space applications. However, the potential benefits of pyrethroids is motivating the chemical manufacturers towards development of sunlight stable products. Furthermore, the behavioral and genetic changes in insects that result in resistance to Pyrethroid treatment is acting as a major restraint for the growth of the market. A study conducted by the American Chemical Society (ACS) in 2015 highlighted that most of the lice population in over 25 states in U.S. shown resistance to pyrethroids owing to gene mutations.

Global Pyrethroid Market -Market Segmentation:

The global Pyrethroid market has been segmented by type into type 1, type 2 and Fenpropathrin. Type 1 pyrethroids evolved as the largest class of pyrethroids in terms of sales value owing to the wide spread use of bifenthrin in various plants such as cereals, cotton, corn, grass seed, alfalfa and few fruit and vegetable species. The high toxicity to acquatic organisms increased the use of Bifenthrin in household and industrial pest management. The rising utilization of Permethrin as a medication to treat scabies is also supporting the growth of type 1 pyrethoids. With a share of over 50%, agriculture evolved as the largest end user of global pyrethroid market owing to its wide use as pesticide in farming practices.

By geography, global pyrethroid market is segmented into North America, South America, Europe, Asia Pacific, Middle East and Africa. Large use of pesticides in countries such as China, India, and Australia made Asia Pacific as the major market for pyrethroids. Growing practice of precision farming and use of effective crop protection tools is boosting the need for high performance insecticides, thus boosting the market growth in this region.

The global pyrethroid market is consolidated with the dominance of companies such as Syngenta AG, BASF SE, ADAMA Agricultural Solutions, , and Sumitomo Chemical Co., Ltd. The market is highly competitive with the likes of new product registrations, launches, and acquisitions. All the major agrochemical manufacturers are witnessing lucrative growth in pest management business and the growth is supported by rising sales of pyrethroids. For instance,

FMC Corporation, a U.S. based chemical manufacturing company announced that it has generated a sales revenue of over $300 million from its pyrethroid business in 2018. It also stated that the existing products and new formulations would likely result in a growth of $150 million and $75 million respectively through 2023.

In December 2014, Sumitomo Chemical Co., Ltd acquired Asana insecticide business of DuPont in U.S. With a synthetic pyrethroid esfenvalerate as active ingredient, Asana is suitable for use in more than 50 crops

Other key players in the market include Heranba Industries Limited (India), FMC Corporation (U.S.), The Merck Group (Germany), Nufarm (Australia), and Tagros Chemicals India Ltd. (India)

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Visualize the composition of the global pyrethroid market across each indication, in terms of type and end user, highlighting the key commercial assets and major players.
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