PUBLISHER: The Business Research Company | PRODUCT CODE: 1427984
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427984
Pyrethroids represent a category of synthetic insecticides akin to natural pyrethrins, which are present in the flowers of chrysanthemum plants. Due to their insecticidal properties, pyrethroids find widespread application in agriculture, households, and public health.
The primary products within the pyrethroids category include bifenthrin, deltamethrin, permethrin, cypermethrin, cyfluthrin, lambda-cyhalothrin, and others. Bifenthrin, a synthetic pyrethroid insecticide, is extensively utilized for pest control in various agricultural and residential contexts. It is also employed for non-crop purposes, such as in turfs and ornamentals. Effective against a range of pests including lepidoptera, sucking pests, coleoptera, diptera, mites, among others, bifenthrin is applied in cereals and grains, oilseeds and pulses, as well as fruits and vegetables.
The pyrethroids market research report is one of a series of new reports from The Business Research Company that provides pyrethroids market statistics, including pyrethroids industry global market size, regional shares, competitors with a pyrethroids market share, detailed pyrethroids market segments, market trends and opportunities, and any further data you may need to thrive in the pyrethroids industry. This pyrethroids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pyrethroids market size has grown strongly in recent years. It will grow from $3.71 billion in 2023 to $3.92 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The rise observed in the historical period can be attributed to heightened agricultural pest pressure, a transition from organophosphates to pyrethroids, increased urbanization and focus on pest control, advancements in agricultural practices, and concerns related to public health and vector control.
The pyrethroids market size is expected to see strong growth in the next few years. It will grow to $4.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be ascribed to the increasing demand for organic farming, the emergence of new pest strains, the expansion of public health programs, rising awareness of insect-borne diseases, and the growth of animal husbandry practices. Prominent trends expected during the forecast period encompass technological innovations in formulations, the exploration of biopesticide alternatives to pyrethroids, the adoption of precision agriculture and targeted application methods, collaborative efforts in research and development, and the extended application of pyrethroids in non-agricultural settings.
The pyrethroids market is poised for growth, driven by the increasing demand for insect-repellent products. These products, designed to deter insects from landing on or biting humans, animals, or surfaces, are particularly popular in outdoor settings or areas with a high insect presence. Pyrethroids, known for their effectiveness in repelling and controlling mosquitoes, ticks, flies, and other nuisance insects, are a key ingredient in insect-repellent formulations. Eurostat reported a 2.7% rise in pesticide sales in Europe in 2021, with insecticides and acaricides contributing significantly. This surge in demand for insect-repellent products is a major factor propelling the growth of the pyrethroids market.
The pyrethroids market is also set to benefit from the increased food demands of a growing global population. The expanding population necessitates higher crop yields, and pyrethroids play a crucial role in managing insect infestations to ensure agricultural productivity. According to the U.S. Census Bureau, the resident population of the United States increased by 0.4%, reaching 333,287,557 in 2022. This growth underscores the need for enhanced agricultural productivity to meet the rising food demands of a growing population, thereby driving the pyrethroids market.
A prominent trend in the pyrethroids market is the focus on product innovations by companies aiming to sustain their market positions. In August 2023, Albaugh LLC, a chemical manufacturing company, introduced Afiado, a soybean insecticide combining Acetamiprid and Bifenthrin. This innovative pesticide is designed to control soybean stinkbugs, offering farmers a new solution to protect their harvests. Such advancements showcase companies' commitment to agricultural innovation and sustainability in the pyrethroids market.
Major players in the pyrethroids market are directing efforts towards the development of Axalion Active, a novel sucking pest control product. For instance, in January 2023, BASF SE launched Axalion Active, an insecticide introduced in Australia with plans for global expansion. This new product, containing dimpropyridaz, aims to support farmers in safeguarding their crops against various pests.
In January 2021, Crystal Crop Protection Limited, an Indian agrochemical company, made a strategic move by acquiring the Dursban, Nurelle-D, and Predator brands from Corteva Agriscience. This undisclosed acquisition strengthened Crystal Crop Protection Limited's market presence in India, allowing them to broaden their product portfolio, reach a larger customer base, and expand into new geographical regions. Corteva Agriscience, a U.S.-based agriculture company, focuses on providing innovative solutions to farmers for enhancing crop productivity and sustainability.
Major companies operating in the pyrethroids market report are BASF SE, Dow Inc., Bayer CropScience AG, Rallis India, Sumitomo Chemical Co Ltd., Heranba Industries Limited, Monsanto Company, DuPont de Nemours Inc., United Phosphorus Limited, FMC Corporation, Nufarm Limited, Meghmani Organics Ltd., Jiangsu Yangnong Chemical Co. Ltd., Nanjing Red Sun Co.Ltd., Bonide Products LLC, Gharda Chemicals Limited, Tagros Chemicals India Pvt Ltd., Bharat Rasayan Ltd., Hemani Industries Limited, Australian Botanical Products Pty Ltd., Adama Agricultural Solutions Ltd., Shandong Dacheng Pesticide Co. Ltd., Syngenta AG, SinoHarvest Corporation, Shanghai Mingdou Chemical Co Ltd., Dalian Sinobio Chemistry Co. Ltd., Boehringer Ingelheim Animal Health Inc., Jiangsu Huangma Agrochemicals Co. Ltd.
Asia-Pacific was the largest region in the pyrethroids market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the pyrethroids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pyrethroids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pyrethroids market consists of sales of agricultural products such as sprays, dust, and granules, household insecticides such as aerosol, liquid concentrates, and ready-to-use formulations. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pyrethroids Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pyrethroids market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pyrethroids ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pyrethroids market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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