Insecticides Market Anticipating Future Market Size, A Strategic Advantage for Business Leaders

The insecticides market is expected to reach $16.7 billion by 2020, growing at a CAGR of 5.0% during the forecast period. Asia-Pacific held over 44% of the total global market in 2013. India is the largest market in the Asia-Pacific region due to high agricultural production and consumption of insecticides. In developed markets like North America and Europe, insecticide usage is declining due to the adoption of genetically modified (GM) crops. North America and Europe collectively hold about 40% of the global insecticides market by volume.

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Organophosphate insecticides hold nearly 30% market share. Synthetic Pyrethroid insecticides are also widely used due to their broad-spectrum nature, stability, and minimal usage. However, environmental and health-related regulations pose challenges. In 2014, Chlorpyrifos insecticide production was banned due to its harmful effects on children. This has led to increased usage of bio insecticides, driving research and development in this area. In 2015, a new fungal bio insecticide is being developed in the U.S. to control bark beetles.

Key Findings:

- Organophosphate insecticide sales will dominate the market during the forecast period.
- The organophosphate segment is expected to grow at a CAGR of 5.3% in volume.
- Asia-Pacific will be a leading market, reaching $7.2 billion by 2020.
- India holds the largest market share in Asia-Pacific.

Companies are focusing on product launches for growth; for example, DOW Agroscience and Bayer Cropscience launched new insecticides in the U.S., namely Sequoia, Closer, and Sivanto.

Key companies in the market include BASF, Bayer AG, DOW Agriscience LLC, Syngenta AG, Cheminova A/S, FMC Corporation, Adama Agricultural Solutions Ltd, Nufarm Ltd, E.I Du Pont de Numerous and Company, and Monsanto.

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