According to the latest report published by Acute Market Reports, Inc. “Global Insecticides Market By Active Ingredient (Pyrethroids, Organophosphorus, Carbamates, Organochlorine, DEET, Picaridin, Eucalyptus Oil, Citronella Oil, Others), By Source (Natural, Synthetic), By Form (Dry, Liquid), By End-use (Agriculture, Residences, Others) – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the worldwide market for insecticides was valued at US$ 18.47 billion in 2017, with CAGR anticipated to expand by 5.9% between 2018 and 2026.
Insecticides are alternatives developed to damage, repel, kill or mitigate one or more species of insects. Some insecticides cause harm to the nervous system of the insects, while others cause harm to the exoskeletons. Insecticides can be packaged in a number of types, including sprays and other types. Insecticides are widely used for the protection of crops. Insecticides have also been common in the housing industry for a long time and have been dominated by coils & mats. However, due to the poisonous substances that are present in them, companies have placed additional emphasis on creating more advanced goods with minimal damaging components. In addition, the incorporation of natural ingredients in home insecticide products has further stimulated the development of the insecticide industry.
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Growing demand for crop protection is one of the main variables contributing to the development of insecticides. Growing demand for food products has been ascribed to an increase in demand for crop protection, which has, in turn, produced several pathways for the development of the market for insecticides. Approximately 1 billion metric tons of maize were produced between 2017 and 2018, while nearly 750 million metric tons of wheat were produced during the same period. Corn is regarded to be the most significant grain, primarily depending on the quantity of manufacturing. Corn is mainly used in the manufacturing of industrial ethanol. More than 35% of the corn produced in the United States was used for the production of ethanol in 2016. These variables indicate a strong demand for insecticides for crop protection. In addition, demand for home insecticide products, the development of which is ascribed to the outbreak of several deadly illnesses. India witnessed approximately 19,113 cases of dengue and chikungunya until May 2017. This has raised serious concerns among the country’s residents and called for increased demand for home insecticide products.
On the basis of the active ingredient, the organophosphorus section accounted for a majority share in 2017. This ingredient finds significant uses as an insecticide and thus dominates the market. Based on the source, the synthesized segment accounted for a significant market share in 2017, while the natural segment is expected to be the fastest increasing segment in the forecast era. On the basis of shape, the liquid section dominated the market in 2017, followed by the dry segment. Furthermore, based on end-use, the agricultural segment accounted for a majority share in 2017 due to the heavy use of insecticides for crop protection purposes.
Latin America dominated the worldwide market for insecticides in 2017, with Brazil and Argentina spearheading market growth. The region plays an essential role in worldwide agricultural trade. Asia Pacific is anticipated to show the highest development in the forecast period, with China, India and Japan anticipated to have a bigger market share in the coming years. North America is also a prime region for insecticides, and the US is a main state for the development of the market for insecticides in North America.
The global insecticides market is marked by intense competition from the major players operating in this industry. Frequent mergers & acquisitions, joint ventures, product developments, and expansions are some of the key strategies adopted by these players in order to ensure long term sustenance in the insecticides market. Notable players operating in the global insecticides market include BASF S.E., Bayer CropScience, DowDupont Inc., FMC Corporation, Monsanto Company, Syngenta A.G., Adama Agricultural Solutions Ltd., Arysta Lifescience, Vanguard Corporation, NuFarm Ltd., Avon Products Inc., Enesis Group, ExOfficio LLC, Reckitt Benckiser Group Plc, and 3M Company among others.
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By Active Ingredient Segment (2016–2026; Kilo Tons, US$ Bn)
- Eucalyptus Oil
- Citronella Oil
By Source Segment (2016–2026; Kilo Tons, US$ Bn)
By Form Segment (2016–2026; Kilo Tons, US$ Bn)
By End-use Segment (2016–2026; Kilo Tons, US$ Bn)
- Cereals & Grains
- Oilseeds & Pulses
- Fruits & Vegetables
By Geography Segment (2016–2026; US$ Bn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America