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Pyrethroids Market Forecast to Reach $3 Billion by 2025

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Pyrethroids Market Forecast to Reach $3 Billion by 2025

April 21
23:04 2021
Pyrethroids Market Forecast to Reach $3 Billion by 2025

Pyrethroids Market
Pyrethroids Insecticide Market Is Driven by Rising Demand for Hygiene Products for the Rapidly Increasing Global Population and Households, Which Will Create New Opportunities.

Pyrethroids Market is forecast to reach $3 billion by 2025, after growing at a CAGR of 4.1% during 2020-2025. Pyrethroids are used as household insecticide against arthropods (insects) owing to which it is currently used for commercial use. Furthermore, rising demand for food is projected to help global market growth over the forecast period due to the rapidly growing population. The pyrethroids insecticide market is driven by rising demand for hygiene products for the rapidly increasing global population and households, which will create new opportunities for the growth of the global pyrethroids industry in the forecast era.

Pyrethroids Market Segment Analysis – By Type

Bifenthrin pyrethroids held the largest share in pyrethroids market in 2019. The non-alpha cyano-pyrethroid insecticide bifenthrin is used against a number of agricultural pests around the world. Bifenthrin has a very low vapor pressure, low water solubility and good hydrolysis and photolysis stability because of these qualities, bifenthrin is potentially a good insecticide for the use of mosquito netting. In United States, bifenthrin pyrethroids are not considered as a restricted chemical and are sold for household use in low concentration Bifenthrin is commonly used on a wide scale against invasive red fire ants and is also effective against aphids, worms, other ants, gnats, moths, beetles, termites, and many more insects. It is used mainly in orchards, nurseries, and houses. Also, in the agricultural sector, it is used in great amounts on certain crops, such as corn and in the textile industry to protect woolen products from insect attack.

Pyrethroids Market Segment Analysis – By Applications

The Cereals & Grains held the largest share in the pyrethroids market in 2019 and is projected to grow at a CAGR of 3.3% during the forecast period 2020-2025. The cereals and grain production are an essential part of the food chain. Through direct human consumption and also through meat production, cereal crops provide essential nutrients and energy in the daily human diet, since they comprise a major feed for livestock. Cereal grains, including synthetic pyrethroids and insect growth regulators, are treated with degradable pesticides to avoid insect infestation during storage period. Pyrethroid insecticides have in particular, been used extensively to manage aphids, preferring their rapid knock-down, low cost and low environmental risk. Therefore, demand for pyrethroids is expected to grow in the forecast period owing to these properties.

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Pyrethroids Market Segment Analysis – Geography

Asia-Pacific held the largest share with 32% in pyrethroids market in 2019. The main consumers of pyrethroid insecticides for use in a range of formulations of insecticides are emerging economies, including China, India, Malaysia, Thailand and Indonesia. Widely known countries, including China and India, are growing rapidly, and population prosperity is growing commonly. This will in turn drive demand for hygiene products and pyrethroid insecticides. Due to the availability of cheap labor and land, and comparatively mild standards and regulations against chemicals, major market players have established their manufacturing facilities of pyrethroid in Asia. Wheat and rice are considered as the world’s most important crops, accounting for over 50% of the cereal production worldwide. After a stagnation period in 2019-20, worldwide use of cereals is expected to rise by 1.6 percent (i.e. 43 million tons year on year to hit an all-time peak of 2732 million tons in the 2020-21 periods, according to the Food and Agriculture Organization. As a consequence, the demand is predicted to improve in the projected timeframe due to these properties.

Pyrethroids Market Drivers

The rapidly growing population leading to increase the food demand

The population is exponentially growing every day and people contribute to worldwide food demand. As a big strategy to satisfy global food demand, farmers are thus aiming for crop protection. The use of insecticides on crops is an established technology and developed nations have seen massive demand for pyrethroids to increase the global food supply and stop the crops from being deteriorated. Everything is now being done to increase crop production. The UN Population Division predicts that by 2050 population growth will be the largest in Asia, which represents 60% or more of the world’s population (particularly in India, China, and South-East Asia). Significant quantities of crop protection chemicals are projected to be needed to increase food production for the rising population in this region. Thus, with the growing population and increasing food demand the market for pyrethroids is anticipated to rise in the forecast period.

Increasing demand for deltamethrin insecticides

Deltamethrin is used for killing a wide number of insects in a variety of products. These can be formulated in insecticide products as aerosols, granules, dusts, sprays, and wettable powders. Initially used by farmers to protect agricultural and industrial crops as well as fields and golf courses, deltamethrin insecticides have since been extended for industrial and medical use. Deltamethrin insecticides are also used as spot or crack and crevice treatment on outdoor lawns, ornamental gardens, and indoors. When used in compliance with label instructions, deltamethrin is safe to use. Thus, owing to such properties the increasing demand of deltamethrin insecticides will further drive the pyrethroids market in the projected period.

Pyrethroids Market Challenges

Harmful Effects of using pyrethroids

Bifenthrin falls on the skin and may cause tingling, scratching, burning or numbness at the contact spot. Usually the sensations fade within 48 hours. Bifenthrin inhalation can irritate your nose, throat and lungs. People consuming substantial quantities of bifenthrin have reported almost immediate sore throat, nausea, stomach pain and vomiting. In a single frame, exposed pets can also experience vomiting or diarrhea, decreased activity, ear twitching, flicking of paws and increased drooling. Certain symptoms can include hyperactivity accompanied by in coordination with diarrhea, fatigue and dilated pupils. Some veterinarians reported additional signs like chewing, bobbing heads, partial paralysis, and tremors as well. Hence, various harmful effects of pyrethroids will further create hurdles for the pyrethroids market in the forecast period.

Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the pyrethroids market. In 2019, the market of pyrethroids has been consolidated by the top five players accounting for xx% of the share. Major players in the pyrethroids market are BASF, Bayer CropScience, Nufarm, Dow AgroSciences, SinoHarvest Corporation, Sumitomo Chemical, Syngenta, United Phosphorus, Cheminova, Arysta Lifescience, DuPont, FMC, Monsanto, Shanghai Mingdou Agrochemical, and Adama Agricultural Solutions Ltd among others.

Key Takeaways

Asia Pacific dominated the pyrethroids market due to the increasing production of pyrethroid for insecticides formulations in China and India.

Pyrethroids acts a systemic insecticide that acts as a nervous toxin (inhibits sodium voltage-gated pump axon depolarization) and leads to paralysis and eventual death of the target insects, owing to which the demand for pyrethroids market is expected to rise over the forecast period.

Use of pyrethroids are little toxic to humans and other mammals as well. However, long-term acute exposure in susceptible individuals may lead to skin irritation and other diseases symptomatic of respiratory disorders. Thus, it can create hurdles for the pyrethroids market.

Due to COVID-19 palindrome, some of the supply chain activities are disrupted and there is interruption seen in certain harvesting activities due to the unavailability of migrant labor, particularly in countries where wheat and pulses are harvested.

Related Reports :

A. Pesticides Market

B. Insecticides Market

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