Market Overview
Global Pyrethroids Market was USD 3.14 billion in 2023 and is anticipated to project positive growth in the forecast period with a CAGR of 4.26% to 2029.
Pyrethroids are organic chemical compounds derived from chrysanthemum flowers. Industrially produced through esterification, these chemicals are insecticidal in nature and are used very extensively across various industries. They are used extensively in household insecticides, pest control of crops, wood preservation, control of disease-spreading agents, textile protection, and the like.
The advantages of pyrethroids are many – they are highly effective, low in mammalian toxicity, readily biodegradable, cheap, and compatible with other pesticides. Furthermore, pyrethroids are flexible in formulation, offering quick action, long residual performance, and broad-spectrum control. Their environmental safety and low application rates contribute to their popularity.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 (Enter Corporate Email ID’ for a Free Sample Report):https://www.marketinsightsresearch.com/request/download/29/55673/pyrethroids-market
Continued research and development in the pyrethroids area have led to new formulation techniques, enhancing their effectiveness and flexibility in a broad spectrum of applications. These advancements enable targeted and controlled release, which is advantageous for market growth. Moreover, increased use of pyrethroids is attributed to their ability to be easily mixed with fertilizers and applied simultaneously with crops for pest control and fertilizer.
Furthermore, the higher demand for organic and bio-based products by consumers causes higher demand for pyrethroids since they are proven to be more environmentally friendly compared to other synthetic pesticides. Moreover, the high utilization of pyrethroids is compelled by the development of resistance among certain populations of pests towards traditional pesticides. Moreover, higher use of pyrethroids in insect-proofing clothing also drives market growth.
Key Market Players
- Bayer AG
- ADAMA Agricultural Solutions Limited
- BASF SE
- DuPont de Nemours, Inc.
- The Dow Chemical Company
- FMC Corporation
- Nufarm Ltd
- Sumitomo Chemical Co. Ltd
- UPL LTD
- Syngenta Crop Protection AG
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Key Market Challenges
Raw Material Price Volatility
Raw material price volatility refers to the frequent and sudden fluctuations in prices of commodities used in the manufacturing process. The commodities are basic building blocks that result in the creation of varied products in various industries. Raw materials in the pyrethroids market include primarily synthetic chemical compounds designed to replicate the insecticidal qualities of natural pyrethrins.
The price of these raw materials can be ascertained by a multitude of factors such as supply disruptions, demand changes, or policy shifts by the government. Any price fluctuation of these materials can significantly influence the overall cost of production, which further influences the market dynamics. Raw material price variations can lead to uncertain and typically higher costs of production, which can further affect the pricing of the final product.
Therefore, an understanding and effective raw material price volatility management is critical for corporations to achieve level production runs, maintain competitive prices, and counteract potential risks of the markets.
Most Salient Market Trends
Rebound of Vector-Borne Diseases
Vector-borne diseases are a group of conditions caused by parasites and pathogens that affect human populations. Vector-borne diseases are transmitted to humans by vectors such as mosquitoes, fleas, and ticks. Some of the most common vector-borne diseases include dengue fever, malaria, Zika virus, and West Nile fever.
During the past decades, there has been a significant re-emergence of these diseases in various parts of the world, both in developing nations and in the United States. The re-emergence can be explained by a number of factors, such as climate change, international travel, urbanization, and land-use change. As these processes keep evolving, transmission of vector-borne diseases will keep increasing.
As the occurrence of vector-borne diseases grows, so does the need for pyrethroids as good insecticides. Pyrethroids have been widely applied in public health operations for vector disease control. The insecticides have proved effective in limiting the impact of vector-borne diseases.
One country that has seen a rise of vector-borne diseases become an epidemic is Venezuela. Pyrethroids can help play a major role in not letting the disease spread and dampening its effects on the populace as cases rise.
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Segmental Insights
Crop Type Insights
The cereals & grains category is expected to achieve robust growth over the forecast period. Farming of cereal and grains is key business in the global food system and is the source of the most significant nutrients and energy directly consumed by human beings and used to produce meat. The crops constitute an important part of daily human consumption and are the top feedstock for livestock to generate a constant source of nutrition to everyone.
To ensure that cereal grains are protected and their quality and integrity maintained, degradable pesticides like synthetic pyrethroids and insect growth regulators are most likely applied to them. These help to repel insects from infesting them while in storage, ensuring they are safe to eat and keeping their nutritional value intact.
Pyrethroid insecticides, among the wide variety of pesticides available, are becoming more popular due to their rapid knock-down activity, low cost, and minimal environmental hazard. Pyrethroids have been extensively used to manage aphids, whose infestation of cereals can be costly. With established performance and advantages, the demand for pyrethroids is likely to increase in the forecasting period.
The continued focus on increasing the output of cereals and their quality through adopting healthy pest control measures is an indication of the overarching importance these grains have in regard to securing food and fulfilling nutrition needs for an increasing number of people.
Regional Insights
Asia Pacific ranked as the primary region of the Global Pyrethroids Market in 2023 with the largest share by value. The major consumers of pyrethroid insecticides, which are used in various formulations of insecticides, are primarily emerging economies such as China, India, Malaysia, Thailand, and Indonesia. These countries, particularly China and India, are developing at a fast pace and experiencing an increase in prosperity of the people. As a result, demand for hygiene products and pyrethroid insecticides is increasing. Using the abundant cheap labor and land, and relatively loose standards and regulations for chemicals, major players in the market have established their pyrethroid production facilities in Asia.
MARKET TRENDS & DRIVERS
- Rising Demand for Crop Protection Solutions Propels Market Growth
- Increasing Use in Public Health and Mosquito Control Programs Expands Addressable Market Opportunity
- Technological Advancements in Pyrethroid Formulations Strengthen Market Position
- Surge in Demand for Pyrethroids in Household Insecticides Generates New Opportunities
- Development of Long-Lasting and High-Effectiveness Pyrethroids Sustains Market Growth
- Expanding Applications in Animal Health and Veterinary Products Throws Spotlight on Market Potential
- Growth in Integrated Pest Management (IPM) Programs Spurs Demand for Pyrethroids
- Rising Adoption in Agricultural and Horticultural Practices Propels Market Expansion
- Surge in Demand for Pyrethroids in Stored Grain Protection Expands Market Horizons
- Growing Awareness of the Benefits of Pyrethroids in Controlling Resistant Pests Drives Market Adoption
- Innovations in Delivery Systems and Formulations Generate New Market Opportunities
