According to the report, published by Zion Market Research, global demand for insecticides market was valued at USD 2.63 billion in 2015, is expected to reach USD 3.48 billion in 2021 and is anticipated to grow at a CAGR of 4.8% between 2016 and 2021.
Insecticides are specialty chemical products used to destroy or inhibit the growth of insects such as mites, ticks, spiders, rats, and mice. Selective insecticides control particular targets while leaving the desired crop relatively unharmed. Pesticides are also used in agriculture, floriculture, horticulture, various industrial applications, and public health. Insecticides are used both in agriculture and within garden and homes.
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However, most of the pesticides are hazardous to humans. Intense care has to be taken while using pesticides. The farmer must cover himself with a mask, gloves, and a coat to prevent any skin contact. In developed countries, farmers often use airplanes to spray insecticides to prevent any contact between the human body and the insecticides. This mechanism of airplanes also covers large farm area within a short span of time. Farmers usually rent airplanes during farming season. Different type of insects requires different types of insecticides.
Insecticides demand has been growing gradually owing to the increasing need for better crop production and growing pest threat. Climate change is one of the major factors stimulating the growth of crop pests, crop diseases, and weeds. Climate changes such as the increase in temperature or water shortage result in the growth of insects and diseases. Thus, there is a constant need for the introduction of new type of insecticides in the market. Furthermore, growing demand for home insecticides and garden insecticides anticipated flourishing the growth of insecticides market during the forecast period. Different practices have come into existence such as pest management, organic farming, genetically modified crops and crop rotation. These practices may hamper the insecticides market in near future due to their advanced and less toxic impact on the environment.
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The global insecticides market is segmented based on product, crop type, and geography. On the basis of different types of product global insecticide market is segmented into pyrethroids, neonicotinoids, methyl carbamates, organophosphates and others. Organophosphate was the leading product segment, which accounted for more than 50% share of the global insecticides market in 2015. Pyrethroid has second largest usage in agriculture, as it is highly effective even when used in low quantities. On the basis of crop type insecticides market is categorized into cereals and grains, oilseeds & pulses, fruits & vegetables and others.
Asia Pacific dominated the insecticides market in 2015. It accounted for more than 40% share of the total revenue generated in the same year. One of the major factors for the market predominance in the Asian region is the constrained utilization of insecticides in the production of yields in both North America and Europe, as these regions are concentrating on harvesting genetically modified (GM) crops. Particularly in India, tropical climate and high production of cereals, such as paddy, cotton, and others are driving the insecticides market. North America and Europe held the almost equal share of the global insecticides market in 2015.
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A key producer of insecticides includes Adama Agricultural Solutions Ltd, BASF SE, Bayer Cropscience AG, DuPont, FMC Corporation, Cheminova AS, DOW Agroscience LLC, and Syngenta AG.
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