The global insecticides market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Insecticides are a category of chemicals which function to protect crops from insects that destroy crops. They include chemical products such as organophosphates, pyrethroids and carbamates and others, which are used in agriculture and horticulture.
The insecticides market can be broadly categorized into crop based and non-crop-based insecticides. Insecticides are pure chemical substances that are produced in minimal amounts and based on accurate requirements for their supposed application. Furthermore, production associated with insecticides and requires transformation of basic chemicals into complex ingredients.
Insecticides are further segmented based on source
- Synthetic insecticides
As insecticides are products used protect crops from weeds, demand from agriculture industry is expected to increase the growth of this market. Demand from agriculture and horticulture markets are actually increasing because of growing world population and increasing dietary needs.
Insecticides Market Drivers and Restraints
Growing investments in the agriculture industry in regions like Asia, Europe and the Americas are likely to offer tremendous possibilities for insecticides market in the future. As agriproducts for every individual is a necessity and growing population increases the number of individuals in need of food, many multinational businesses are investing in the market.
Insecticides are exposed to immense domestic and international competition. Insecticides have stringent regulations when it comes to approvals, as they cause environmental pollution, especially land and water. Existing and future regulations concerning the use of certain insecticides in few countries are likely to challenge the market growth.
Insecticides Market by Region
Asia was the largest consumer of insecticides and this pattern is anticipated to continue to be identical over the following few years. Consumption in China and India is showing upward trend because of increase in population and demand for agriproducts. Growing demand for agriculture industry will drive insecticides market in Asia. With major production capacities in China, the region is likely to grow in terms of global supply capability. Consumption of insecticides in the Americas and Europe is likely to grow at a significant rate.
Top players in this market include American Vanguard, Arysta LifeScience, BASF SE, Bayer CropScience, BioWorks, Cheminova, Chemtura Corp, Chr Hansen, Dow AgroSciences, DuPont, FMC Corp, Isagro SpA, Ishihara Sangyo Kaisha, Makhteshim Agan, Marrone Bio Innovations, Monsanto, Natural Industries, Novozymes A/S, Nufarm Ltd, Sumitomo Chemical, Syngenta AG and Valent Biosciences.
The report covers exhaustive analysis on:
- Global Market Size
- Global Market Segments
- Market Regional Analysis
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth