Pyrethroid is an insecticide derived by synthetic modification of natural pyrethrins that are extracted from flowers of Chrysanthemum. These are used for control of variety of insects in industries, residences, and in agricultural activities. These organic compounds are considered as relatively safe insecticides to mankind owing to their lower mammalian skin absorption and lower toxicity compared to organophosphate insecticides, thus making it insecticide of choice for household pest management applications.
The Global Pyrethroid Market is estimated to reach at high CAGR during the forecast period (2022-2029).
ITNs, Selective Toxicity and rising demand for food will drive the Pyrethroid market
Pyrethroids are highly effective and safe. They are the least expensive of the insecticides used in malaria vector control, and are the only class available for use on ITNs. All types of ITNs currently recommended by WHO are treated with pyrethroids. The rising awareness towards efficiency of pyrethroids for use in control of wide array of insects with minimal effect on humans, birds, and animals is the major factor driving the growth of pyrethroids market. In 2019, the US EPA increased the amount of pyrethroid exposure considered safe for children threefold, which resulted in lower risk estimates for many pyrethroids which will further increase the usage of pyrethroids. The high selective toxicity of these compounds enables easy and effective use for insect control in household and agricultural communities. Moreover, the growing need for pest management in agriculture owing to quality and quantity concerns of agricultural produce is further boosting the demand for pyrethroids across the globe. The growing population has been rising the demand for both food and commercial crops. Pyrethroids and other forms of pesticides evolved as an essential tool for farmers and crop growers to increase food productivity. According to The Food and Agriculture Organization (FAO), the global population is likely to reach 10 billion by 2050 and would result in a growth of over 50% in agricultural demand as compared with 2020.
The rapid photodegradation and high susceptibility to moisture and heat is limiting the effectiveness of pyrethroids in agriculture and other open space applications. However, the potential benefits of pyrethroids is motivating the chemical manufacturers towards development of sunlight stable products. Furthermore, the behavioral and genetic changes in insects that result in resistance to Pyrethroid treatment is acting as a major restraint for the growth of the market. A study conducted by the American Chemical Society (ACS) in 2015 highlighted that most of the lice population in over 25 states in U.S. shown resistance to pyrethroids owing to gene mutations. Also, pyrethroids are associated with neurological disorders and cardiovascular diseases in humans. The EPA is reevaluating a total of 23 pyrethroids. However, 13 has been given approval with new restrictions while 10 are pending assessment.
Covid-19 Impact analysis: Pandemic had a negative impact on global pyrethroid market:
While the global trade came to halt during the lockdowns imposed to control the spread of novel coronavirus, the food and agriculture industry has been impacted by severe freight challenges. Asia, Europe and North America, which are among the most affected regions due to covid 19, are also the most dominant markets for pyrethroid based insecticides. Most of the agricultural and agrochemical products categories including insecticides witnessed decline in sales volume due to lack of demand and supply chain disruptions.
Type 1 pyrethroids lead the sales owing to widespread use of bifenthrin
The global Pyrethroid market has been segmented by type into type 1, type 2 and Fenpropathrin. Type 1 pyrethroids evolved as the largest class of pyrethroids in terms of sales value owing to the wide spread use of bifenthrin in various plants such as cereals, cotton, corn, grass seed, alfalfa and few fruit and vegetable species. The high toxicity to aquatic organisms increased the use of Bifenthrin in household and industrial pest management. The rising utilization of Permethrin as a medication to treat scabies is also supporting the growth of type 1 pyrethroids. With a share of over 50%, agriculture evolved as the largest end user of global pyrethroid market owing to its wide use as pesticide in farming practices.
China, India and Australia led Asia Pacific to the top of pyrethroid market
By geography, global pyrethroid market is segmented into North America, South America, Europe, Asia Pacific, Middle East and Africa. Large use of pesticides in countries such as China, India and Pakistan made Asia Pacific as the major market for pyrethroids. Due to the increasing population and urbanization which is resulting in increasing food demand and decreasing arable land per capita, practice of precision farming is growing and use of effective crop protection tools is boosting the need for high performance insecticides, thus boosting the market growth in this region. For instance, in India, it is estimated that percentage of agricultural workers of total work force would drop to 25.7% by 2050 because of urbanization whereas total population is expected to grow to 1.64 billion. So, it is important to adapt to technological advancements to improve efficiency in order to meet the increasing food demand. Penetration levels of pesticides are also relatively low in these countries which is expected to increase in future. For instance, total irrigated crop area in India is 215.6 million acres in 2020 and the pesticides market is $3.18 billion whereas in USA, the irrigated crop area is 55.9 million acres where’s pesticides market is $16.74 billion. The increasing awareness among farmers about the increase in productivity by using pesticides and insecticides will boost the sales in coming years.
New products and acquisitions made the consolidated pyrethroid market competitive
The global pyrethroid market is consolidated with the dominance of companies such as Syngenta AG (owned by ChemChina), BASF SE, ADAMA Agricultural Solutions and Sumitomo Chemical Co., Ltd. The market is highly competitive with the likes of new product registrations, launches, and acquisitions. All the major agrochemical manufacturers are witnessing lucrative growth in pest management business and the growth is supported by rising sales of pyrethroids. For instance,
Other key players in the market include Heranba Industries Limited (India), FMC Corporation (U.S.), The Merck Group (Germany), Nufarm (Australia), and Tagros Chemicals India Ltd. (India)
Syngenta AG (owned by ChemChina):
The Syngenta Group, owned by ChemChina is a leading global provider of agricultural science and technology, in particular seeds and crop protection products, with its headquarters in Basel, Switzerland and serving worldwide.
Product Portfolio of Syngenta Group:
seeds (including rice and corn)
Why Purchase the Report?
Get your free sample proposal with a single click!