Pyrethroids are synthetic insecticides that are modeled on natural pyrethrins. They are effective against a wide variety of pests and have low mammalian toxicity. Pyrethroids play a key role in crop protection by killing or repelling insects like mosquitoes, fleas, flies, beetles, moths, and other pests. This helps ensure high crop yields and reduce post-harvest losses. With increasing global population and rising demand for food, the use of pyrethroid-based insecticides and pesticides in agriculture is growing significantly. The global Pyrethroids Market is estimated to be valued at US$ 23 Billion in 2023 and is expected to exhibit a CAGR of 43.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The increasing use of pyrethroids in agriculture is driving the global market substantially. Pyrethroids are highly effective against a wide range of agricultural pests at low application rates. They degrade rapidly in the environment and have low toxicity to mammals and birds. With tightening agricultural regulations focusing on sustainability and environmental protection, pyrethroid-based products are replacing conventional insecticides in many countries as they are considered safer for the environment. Rising food demand is prompting farmers across the globe to boost crop yields, which is fueling the demand for pyrethroids in the agricultural sector.
Segment Analysis
The global pyrethroids market is dominated by agricultural insecticides sub segment. Pyrethroids are synthetic chemical substances derived from pyrethrins which occurs naturally in pyrethrum flower. They are widely used for controlling pests in agricultural fields as they are non toxic to mammals and break down quickly in presence of sunlight. They have proven to be more effective substitutes for organochlorine and organophosphorus insecticides which are highly toxic. This drives the consumption of pyrethroids for agricultural applications.
Key Takeaways
The global Pyrethroids Market Growth is expected to witness high growth driven by rising demand from agricultural sector.
Regional analysis reveals Asia Pacific dominates the market currently owing to high usage of pyrethroids in crop production in countries like India and China. North America and Europe are other major markets driven by demand from agricultural as well as commercial pest control applications.
Key players operating in the pyrethroids market are BASF SE, Bayer Cropscience, Syngenta, Dow Chemical and Sumitomo Chemical. BASF commands leading share owing to its wide product portfolio and global sales network. Sumitomo too has strong presence in Asia Pacific region accounting for over 30% sales from agriculture segment.
For more insights, read- https://www.ukwebwire.com/pyrethroids-market-trends-size-and-share-analysis/
For more details on the report, Read- https://www.ukwebwire.com/lab-on-a-chip-and-microarray-biochip-market-scope/
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