Insecticides Market Booms, Fostering Professional Growth with Sustainable Trends

The global insecticides market, as per the latest report from Allied Market Research titled "Insecticides Market: Global Opportunity Analysis and Industry Forecast, 2013 - 2020," is projected to reach $16.7 billion by 2020, with a compound annual growth rate (CAGR) of 5.0% during the forecast period from 2014 to 2020. In 2013, the Asia-Pacific region accounted for over 44% of the total global insecticides market in terms of value.

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India stands out as the largest market within the Asia-Pacific region due to its significant agricultural production of crops like sugarcane, paddy, and cotton, which necessitate high consumption of insecticides. Conversely, the use of insecticides is on the decline in developed markets such as North America and Europe, primarily due to the increased cultivation of insect/pest-resistant Genetically Modified (GM) crops. Currently, North America and Europe combined hold approximately 40% of the global insecticides market in terms of volume.

Organophosphate insecticides hold the lion's share, nearly 30%, of the global insecticides market by types in terms of value. They are widely used due to their versatility, serving as fumigants, systemic or contact insecticides. Major companies like DOW, Syngenta, and BASF manufacture Organophosphate insecticides under various trade names like Lorsban, Dursban, and Curacron. The demand for Organophosphate insecticides is driven by their high demand and ready availability.

Another significant product type, Synthetic Pyrethroid insecticides, is widely used due to their broad-spectrum effectiveness, stability under sunlight, and minimal usage requirements. These advantages contribute to the growth in consumption of Synthetic Pyrethroid insecticides globally.

However, the global insecticides market faces several challenges, including environmental and health-related regulations. For instance, in September 2014, a new regulation banned the production of Chlorpyrifos insecticide due to its harmful effects on children. Regulatory controls on synthetic insecticides are leading to increased usage of bio insecticides in agriculture. Consequently, research and development efforts are focusing on innovating new categories of bio insecticides.

Key findings from the report include the expectation that the sale of Organophosphate insecticides will dominate the global insecticides market during the forecast period. The organophosphate segment is projected to grow at a CAGR of 5.3% in terms of volume, the highest among all segments. Asia-Pacific is anticipated to be one of the leading markets, both in terms of market size and growth rate, reaching $7.2 billion by 2020 with a CAGR of 4.5%. India is poised to maintain its leading market share in the Asia-Pacific region, generating over 50% of the revenue through 2020.

Companies operating in this market are focusing on product launches as part of their growth strategy. For instance, in the U.S., DOW Agroscience and Bayer Cropscience have introduced new insecticides such as Sequoia, Closer, and Sivanto. Key companies profiled in the report 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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