Pyrethroid Market Report Overview
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The global pyrethroid market size was US$ 1972 million in 2021. As per our research, the market is expected to generate substantial revenue by 2028, exhibiting a CAGR of 3.6% during the forecast period.
Pyrethroids are a class of synthetic insecticides that are chemically similar to natural pyrethrins, which are derived from chrysanthemum flowers. They are widely used in agriculture, public health, and veterinary medicine for the control of various pests, including insects, mites, and ticks.
Pyrethroids work by disrupting the nervous system of insects, causing paralysis and death. They are effective against a wide range of pests and are generally considered to be safer and more environmentally friendly than many other insecticides. The growth of the pyrethroid market is primarily driven by the increasing demand for food security and the need to control vector-borne diseases.
COVID-19 Impact: Pandemic Decreased the Market Demand
COVID-19 pandemic has had a significant negative impact on the pyrethroid market, with disrupted supply chains, decreased demand, and increased competition from alternative insecticides. The restrictions on movement and lockdowns in many countries have impacted the transportation and logistics of pyrethroids, leading to delayed shipments and a shortage of raw materials. This has resulted in higher prices and reduced availability of pyrethroids in some markets. Additionally, the economic downturn caused by the pandemic has led to a decrease in demand for pyrethroid market in some regions, particularly in sectors such as construction and tourism, which have been severely impacted by the pandemic. With reduced economic activity, the demand for insecticides has decreased, which has further contributed to the decline in demand. Furthermore, the increased focus on health and safety during the pandemic has led to a greater use of alternative insecticides that are perceived as safer and more environmentally friendly, such as biological and botanical pesticides. However, the market is expected to recover gradually as the pandemic subsides and economic activity picks up.
Latest Trends
"Rising Demand from Agriculture to Fuel Market Growth"
Pyrethroids are increasingly being utilised in agriculture to protect crops from insects and pests. The expanding worldwide population is pushing up demand for pyrethroid market in the agriculture industry. They are also employed to control mosquitoes and other disease-carrying insects in the public health sector. The increased public health concern over vector-borne illnesses such as malaria and dengue is driving up demand for pyrethroids. The use of safer and more ecologically friendly pyrethroid formulations is becoming more popular. As a result, novel formulations that are less hazardous to non-target species and have a smaller environmental effect have been developed. These insectcides are under increased regulatory attention due to worries about their influence on human health and the environment. As a result, tougher restrictions and standards for the use of these insectisides in various applications have been developed.
Pyrethroid Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into lambda-cyhalothrin, deltamethrin, cypermethrin, bifenthrin, permethrin, others.
In terms of product, Lambda-cyhalothrin is the largest segment.
- By Application Analysis
Based on service, the market can be divided into agriculture, public health.
In terms of application, agriculture is the leading segment.
Driving Factors
"Adoption of Integrated Pest Management (IPM) Practices to Accelerate Market Demand"
As a sustainable pest control method, integrated pest management (IPM) practices are gaining popularity. Pyrethroids are an important part of IPM programs because they work against a lot of bugs and pests. The developing populace and improving on dietary propensities have expanded the interest for food, prompting higher utilization of these insectisides in agribusiness to shield crops from irritations and bugs. Malaria, dengue fever, and the Zika virus are all vector-borne diseases that are becoming more common in many parts of the world. They are frequently used in public health programs to stop the spread of these diseases by controlling vectors.
"Rise in Urbanization and Industrialization to Fuel Market Growth"
The rise of cities and urbanization has made pest problems in residential and commercial buildings worse. In order to address these issues, pyrethroids are frequently utilized for indoor pest control which is further accelerating pyrethroid market growth.
Restraining Factors
"Increase in Travel Taxes to Hinder Growth of Market "
Pesticide resistance may develop as a result of prolonged and widespread use. Pest control with pyrethroids may become less effective as a result of this, necessitating the use of other methods. Physical, cultural, and biological controls are just a few of the other options for controlling pests. The demand may decrease as these alternatives become more popular and more effective.
Pyrethroid Market Regional Insights
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"Growing Population and Rising Demand for Food in Asia-Pacific Anticipated to Boost Market Development"
Due to the large agricultural sector and high population density, Asia-Pacific holds the leading position in pyrethroid market share. The growth in demand for pyrethroids in this region can be attributed to the increasing agricultural activities, rising population, and the need for efficient pest control methods.
Key Industry Players
"Market Growth is being influenced by Adoption of Innovative Strategies by Key Players "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.
The top key players in the market are Sumitomo Chemical, Yangnong Chemical, Bayer, Heranba, Tagros, Meghmani, Shanghai Tenglong Agrochem, Jiangsu RedSun, Aestar, Gharda, Jiangsu Huangma Agrochemicals, Guangdong Liwei, Jiangsu Huifeng Agrochemical, Yingde Greatchem Chemicals. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.
List of Market Players Profiled
- Sumitomo Chemical
- Yangnong Chemical
- Bayer
- Heranba
- Tagros
- Meghmani
- Shanghai Tenglong Agrochem
- Jiangsu RedSun
- Aestar
- Gharda
- Jiangsu Huangma Agrochemicals
- Guangdong Liwei
- Jiangsu Huifeng Agrochemical
- Yingde Greatchem Chemicals
Report Coverage
This report examines an understanding of the pyrethroidmarket market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
Frequently Asked Questions
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What CAGR is the pyrethroid market expected to exhibit by 2028?
The pyrethroid market is expected to exhibit a CAGR of 3.6% by 2028.
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Which are the driving factors of the pyrethroid market?
The increasing demand for food and the need for effective pest control in agriculture are the driving factors of the pyrethroid market.
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Which are the top companies operating in the pyrethroid market?
Sumitomo Chemical, Yangnong Chemical, Bayer, Heranba, Tagros, Meghmani, Shanghai Tenglong Agrochem, Jiangsu RedSun, Aestar, Gharda, Jiangsu Huangma Agrochemicals, Guangdong Liwei, Jiangsu Huifeng Agrochemical, Yingde Greatchem Chemicals are the top companies operating in the pyrethroid market.
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What is the leading region in pyrethroid market?
Asia-Pacific is the leading region in pyrethroid market.