Global Pyrethroids Market: Introduction
Pyrethroids are organic chemical compounds, which belong to Pyrethrin group and exhibit insecticidal properties. Pyrethroid compounds such as Deltamethrin, Bifenthrin and Fenvalerate are mostly used as insecticides in household applications. Additionally, these compounds are less toxic to birds and mammals, and that a relatively smaller dose is required to kill insects. Therefore, pyrethroids are being used as insecticides across the globe. Pyrethroids are obtained through various ways, for instance, acid moiety, ester linkage and alcohol moiety, among others.
Global Pyrethroids Market: Dynamics
Along with the growing world population, demand for food has increased considerably. In order to meet this ever-growing demand for food, efforts have been channelized towards improving the crop yield. This has, in turn, led to increase in demand for synthetic insecticides. Also, increased investment in the Research & Development sector helps to commercialize more compounds of Pyrethroids in order to cater to the requirements in the global market. Further, Pyrethroids are among the safest insecticides available in the market and the compounds are highly effective and efficacious even at relatively lower dosages. Moreover, Pyrethroids are relatively less costly as compared to other insecticides. Besides this, Pyrethroids are light sensitive and get denatured in the presence of light, moisture and heat, which limit their utilization in the fields, open spaces and farms. Ill-effects owing to excessive use of such pesticides coupled with growing use of alternatives is expected to act as an impediment to growth of global pyrethroids market during forecast period. Also, stringent regulations over the use of insecticides on crops and its adverse effects on the environment have restricted the growth of Pyrethroids market. Furthermore, the insufficient supply of raw materials for the manufacturing of Pyrethroids compound act as a major obstacle coupled with the rising use of bio-insecticides in agriculture sector. The aforementioned factors are expected to influence the growth of global pyrethroids market over the forecast period.
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Global Pyrethroids Market: Segmentation
On the basis of application, global pyrethroids market can be segmented into;
On the basis of the active ingredient types, global pyrethroids market can be classified into;
- Other pyrethroids
On the basis of crop types, the global pyrethroids market can be segmented into;
- Cereals & grains
- Fruits & vegetables
Global Pyrethroids Market: Regional Outlook
Asia-pacific holds a significant share in the global Pyrethroids market. In APAC, large and growing population, coupled with rising disposable incomes, will continue to drive the demand for food & agricultural commodities, which in turn is projected to rise the demand for insecticides. In terms of production and consumption, China and India are the major markets for the pyrethroids. It is estimated that the global pyrethroids market in APAC will register a healthy growth over the forecast period. Europe follows APAC, in terms of consumption of Pyrethroids. Owing to the rising necessity for high crop yield in the agricultural industry, the global Pyrethroids market in Europe is expected to grow steadily during the forecast period. Growing agriculture industry in North America region helps to boost the demand for pyrethroids over the forecast period. North America pyrethroids market is expected to register healthy growth over the forecast period. Whereas, Latin America and MEA regions are expected to register sluggish growth over the forecast period.
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Global Pyrethroids Market: Market Participants
Examples of some of the market participants in the global Pyrethroids market identified across the value chain include, United Phosphorus, Sumitomo Chemical, Dow Agro Sciences, Syngenta Nufarm, Sino Harvest Corporation and Bayer Crop Science among others. The market participants have developed a variety of novel products to achieve specific crop requirements. Therefore, the presence as well as acceptance of the Pyrethroids market has been increasing globally. In order to cater to the demand, manufacturers are focusing on the development of alternative methods of production of Pyrethroids compounds and have adopted the organic growth strategy.