Global Piperonyl Butoxide (PBO) Market Analysis, Growth, Trends and Forecast - 2024
India and China present the most lucrative investment options for players in the PBO market and companies have been focusing their resources in expanding business operations and production capacities in these two countries. A case in point would be ENDURA P.IVA. The company has been collaborating with several China-based and India-based companies to expand its footprint in Asia Pacific. In 2014, the company invested US$8 mn in Solex Chemicals Private Ltd., an India-based company, to manufacture chemicals used in the production of insecticides.
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In terms of revenue the piperonyl butoxide market was valued at US$10.02 mn in 2015 and is anticipated to reach US$15.45 mn by 2024 at a steady CAGR of 5.0% therein. The demand, on the other hand, is projected to expand at a 3.9% CAGR from 2016 to 2024.
Loss of Crops Owing to Pests and Insects Spurs Demand for Piperonyl Butoxide
“An increasing threat of pest infestation and a subsequent rise in the adoption of pesticides and insecticides are the primary factors driving the piperonyl butoxide market in Asia Pacific,” the author of the study reports. TMR has found that every year, an estimated 25% of the total crop production is lost due to the damage caused by insects and pests in Asia Pacific. The climatic conditions in the region are extremely conducive for insects to thrive in, especially in the tropical and sub-tropical regions. This has spurred the demand for crop protection chemicals, consequently driving the piperonyl butoxide market.
The growing need for insecticides in food warehouses is also likely to boost the APAC market in the coming years.
Availability of Low-price Insecticides Threatens Growth
The prices of insecticides that contain piperonyl butoxide are much higher than those of traditional insecticides such as organophosphate, organochlorine, benzoylurea, and organosulfur. Farmers primarily use low-price insecticides as they are just as effective in eliminating pests. This use of traditional insecticides is likely to impede the piperonyl butoxide market in Asia Pacific during the forecast period.
The various challenges and complexities in producing piperonyl butoxide are also anticipated to hamper the growth of the market, TMR finds.
China to Continue its Lead in APAC PBO Market
Presently, carbamate leads the piperonyl butoxide market in Asia Pacific based on application. Accounting for a 39.3% share in the PBO market in 2015, the segment is expected to witness strong growth during the forecast period. Pyrethroid was next in line, with a 38.4% share that year.
Geographically, China was the leading segment of the Asia Pacific piperonyl butoxide market in 2015 and the country is expected to retain its lead in terms of volume throughout the forecast period. TMR analysts have identified China to be the most attractive regional market in terms of volume growth. “Japan, on the other hand, is one of the mature markets in the region, with limited scope for growth,” the analyst states. “The piperonyl butoxide market in the country is estimated to expand at the slowest rate among the major countries during the forecast period,” he predicts.
This review is based on the findings of a TMR report titled “Piperonyl Butoxide Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Piperonyl Butoxide Market, by Application
Others (Including bioallethrin, permethrin, bioresmethrin, and deltamethrin)
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TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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