"Global Insecticides Market -
(Type, Geography) Size, Industry Analysis, Trends, Opportunities, Growth and
Forecast, 2013 - 2020", indicates that the global insecticides' market
would reach $16.7 billion by 2020, registering a CAGR of 5.0% from 2014 to
2020. The Asia-Pacific regional market held over 44% of the total global
insecticides' market in terms of value in the year 2013.
Within the Asia-Pacific region,
India is the largest market owing to high agricultural production of crops such
as sugarcane, paddy, and cotton and also consequent high consumption of allied
insecticides. On the other hand, usage of insecticides is gradually declining
in developed regional markets such as North America and Europe due to increased
production of insect/pest-resistant ‘Genetically Modified’ (GM) crops. As a
result, currently, North America and Europe collectively hold about 40% of the
global insecticides' market in terms of volume.
In terms of value,
‘Organophosphate’ insecticides hold nearly 30% market share in the global
insecticides' market by types. ‘Organophosphate’ insecticides are widely used
owing to their multiple applications such as fumigant, systemic or contact
insecticide. Many large-sized companies such as DOW, Syngenta, and BASF
manufacture ‘Organophosphate’ insecticides via trade names - Lorsban, Dursban,
Curacron and others. The high demand and ready availability are the factors driving
the consumption of the ‘Organophosphate’ insecticides worldwide.
Another product type, namely
Synthetic Pyrethroid insecticide is also widely used, as it is a broad-spectrum
insecticide, stable under direct exposure to sunlight and requires minimum
usage to control insects. These benefits are cumulatively adding to the
growth/consumption of Synthetic Pyrethroid insecticides. The global
insecticides market, however, faces many restraints; for instance,
environmental and health-related regulations. Recently, i.e., in September
2014, a new regulation banned the production of Chlorpyrifos insecticide as it
was found to be harmful to children. Regulatory control on synthetic
insecticides is paving the way of increased usage of bio insecticides in agriculture.
As a result, research and development to innovate new categories of bio
insecticides is also gaining prominence. In 2015, Montana Department of
Commerce, U.S., will fund a project to develop a new fungal bioinsecticide to
control bark beetles in forestry.
Cereals & Grains is the
principal crop type category, which leads in insecticide consumption (both in
terms of value and volume) through 2020. Geographically, Asia-Pacific is the
dominant market with nearly 40% market share, as cereals and grains' production
is significantly high in countries such as China and India. In Latin American
countries, usage of insecticide is high in fruits and vegetables' cultivation,
placing the region as second largest contributor, with an approximate 30%
market share in terms of volume.
Key findings of the study:
- Sale of Organophosphate
insecticide is expected to dominate the global insecticides market during the
forecast period
- In terms of volume,
organophosphate segment is expected to grow at a CAGR of 5.3% during the
forecast period, highest among all
- Asia-Pacific would be one of the
leading markets, both in terms of market size and growth rate. Asia-Pacific
would reach $7.2 billion by 2020, with a CAGR of 4.5%
- India holds the largest market
share in Asia-Pacific region and would generate more than 50% of the revenue
through 2020
- Companies operating in this
market focus on product launches as part of their growth strategy; for
instance, in the U.S., DOW Agroscience and Bayer Cropscience launched new insecticides,
namely, Sequoia, Closerand Sivanto. Key companies profiled in the report are
BASF, Bayer AG, DOW Agriscience LLC, Syngenta AG, Cheminova A/S, FMC
Corporation, Adama Agricultural Solutions Ltd, Nufarm Ltd, E.I Du Pont de
Numerous and Company and Monsanto.
Spanning over 95 pages, 48 Tables and 20
Figures “Global Insecticides Market
(Type, Crop Type and Geography) - Size, Share, Global Trends, Company Profiles,
Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and
Forecast, 2013 - 2020” report Covering Introduction, Executive Summary,
Market Overview, Global Insecticide Market By Product Types, 2013 – 2020
$Million, Global Insecticides Market By Crop Type, 2013 – 2020 $ Million,
Global Insecticides Market By Geography, 2013 – 2020 $ Million, Company
Profiles. This report Covered These Companies - DOW Agroscience LLC, BASF SE,
Bayer AG, Syngenta AG, Cheminova A/S, FMC Corporation, Adama Agricultural
Solutions Ltd., Nufarm Ltd. , E.I Du Pont de Numerous and Company, Monsanto.
