“Global insecticides market projected to grow at a CAGR of 5.27%”
The global insecticides market is projected to reach a value of USD 20.82 billion by 2022, growing at a CAGR of 5.27% from 2016 to 2022. The market is driven by factors such as increasing global exports and rise in instances of crop losses due to pest infestation. Moreover, population growth exceeds global food production, owing to which the use of best grades of insecticides for agriculture will benefit growers and the economically backward population in developing countries. However, factors such as different regulatory structures and uncertainty of the world economy affect the growth of the insecticides market.
“Organochlorine segment is projected to grow be the fastest growing segment in the insecticides market in 2015”
On the basis of type, the organochlorine segment is projected to grow at the fastest growth rate from 2016 to 2022. With the increasing demand for organochlorine insecticides, their consumption is increasing as they remain effective against targeted pests for prolonged periods.
“Spray segment of insecticides led the market with the largest share in 2015”
On the basis of form, sprays were most widely used form of the insecticides. Sprays help insecticides penetrate plant cuticle, thereby having a major effect on the destruction of pests. The absence of effective spray options severely limit crop productivity.
“North America holds the largest share whereas, Asia-Pacific is projected to grow at the highest rate”
North America is one of the largest consumers of insecticides and accounted for the maximum share of the global insecticides market, in 2015. The major cultivated crops include corn, soybean, and wheat, which account for 70% of cultivation, followed by canola, alfalfa, cotton, and barley. In the U.S market, the well-established agricultural sector demands enhanced agricultural productivity, thereby leading to increase in demand for insecticides. The region sees the maximum consumption of insecticides due to the increasing population and demand for new and enhanced products.
The Asia-Pacific market experiences the maximum consumption of insecticides due to rising cultivation in the countries of Asia-Pacific and continuous technological advancements. Key players focus on research & development to develop products conforming to European regulations for insecticides, since these regulations are considered to be benchmarks in terms of certain insecticides.
Breakdown of profile of primary participants is as follows:
- By Company Type: Tier 1 – 30 %, Tier 2 – 45%, and Tier 3 – 25%
- By Designation: Directors – 22%, C level – 28%, and Manager level – 50%
- By Region: North America – 35%, Europe – 23%, Asia-Pacific – 32%, and RoW – 10%
The insecticides market is dominated by key players such as BASF SE (Germany), Bayer CropScience Ag (Germany), Dow AgroSciences (The Dow Chemical Company) (U.S), ChemChina (Syngenta AG) (China), E.I du Pont de Nemours and Company (U.S.). Other players include Sumitomo Chemical Company Ltd. (Japan), FMC Corporation (U.S.), ADAMA Agricultural Solutions Ltd. (Israel), Nufarm Limited (Australia), and United Phosphorus Limited (India).
- This study estimates the global market of insecticides, in terms of value, till 2022, segmented on the basis of type, crop type, form, mode of application, and region.
- It offers a detailed qualitative and quantitative analysis of this market with reference to the competitive landscape, and the preferred development strategies such as investments & expansions, agreements, new product launches, and acquisitions to gain a larger share in the market.
- It provides a comprehensive review of major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues of the market.
- It covers various important aspects of the market. These include analysis of the value chain, competitive landscape, market dynamics, market estimates in terms of value, and future trends in the insecticides market.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analysis?industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the insecticides market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on insecticides offered by the top players in the global insecticides market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the insecticides market.
- Market Development: Comprehensive information about lucrative emerging markets?the report analyzes the markets for insecticides across various regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global insecticides market.
- Competitive Assessment: In-depth assessment of the market share, strategies, products, and manufacturing capabilities of the leading players in the global insecticides market.