Pyrethroids are synthetic compounds similar to pyethrin, a natural compound produced by flowers of Chrysanthemum cinerariaefolium and Chrysanthemum coccineum. These acidic lipophilic compounds have potent insecticidal property and can paralyze nervous system of insects. Ketoalcoholic esters of pyrethroic acid and chrysanthemic acid induce the insecticidal property in pyrethroids. The naturally occuring pyrethrins are sensitive to heat, light, and moisture. However, synthetic pyrethroids have improved stability and are highly toxic among insects compared to mammals. The high toxicity is due to increased sensitivity to the nerves of the insects. The compound is less absorbed in mammalian skin and mammals possess efficient hepatic metabolism, which reduces the effect of the compound compared to organophosphorous insecticides that are highly toxic.
Global pyrethroids market was valued at US$ 3781.9 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.18% during the forecast period (2022 to 2030).
Drivers
Pyrethroids are widely used to produce pesticides for use in agriculture, hospitals, homes, schools, and restaurants. Moreover, the compounds are used for topical head lice treatment and are used in smoke coils, aerosol sprays, electric mats, oil formulations, wettable powders, emulsifiable concentrates, and dustable powders. High adoption of pesticides to increase crop yield and increasing demand for household products such as pet sprays and shampoos, insect repellent products, and lice treatment products containing pyrethroids are major factors propelling growth of the pyrethroids market.
Extensive application of pyrethroids across agriculture and residential sectors is the key factor driving the market growth. With the growing population and diminishing farmlands, novel farming practices are being adopted by farmers across the world for improved yield. Consequently, pyrethroids are being widely adopted in the agriculture and allied sectors. They serve as a cost-effective alternative to the conventionally used insecticides. Furthermore, to compete with the synthetic variants, manufacturers are focusing on enhanced production and more efficient distribution of pyrethroids. Additionally, since they are less toxic to mammals and birds, these insecticides are constantly replacing organophosphates, which are conventionally used on vegetables including carrots and lettuce. Moreover, these insecticides are known for their high potency and extreme effectiveness. Owing to this, there is an increasing demand for pyrethroids in cloth treatment and mosquito control across residential and industrial sectors, which is projected to catalyze the growth of the market further.
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 Pacific, 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.
Figure 1. Global Pyrethroids Market Value Share (%), By Region, 2021
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Market Restraints
Adverse effects of pyrethroid pesticides on aquatic ecosystem and growing demand for bio pesticides are some of the key factors restraining growth of the pyrethroids market.
Pyrethroids Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 3781.9 Mn |
Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
Forecast Period 2022 to 2030 CAGR: | 5.18% | Forecast Period: | 2022-2030 |
Geographies covered: |
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Segments covered: |
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Companies covered: |
BASF S.E., Bayer Cropscience AG, FMC Corporation, DowDuPont, Monsanto Company, Nufarm, SinoHarvest Corporation, Syngenta A.G., Sumitomo Chemical, and United Phosphorus. |
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Restraints & Challenges: |
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Market Trends
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 Insecticide-treated bed nets. All types of ITNs currently recommended by the 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) in 2020, 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.
Figure 2. Global Pyrethroids Market Value Share (%), By Product Type, 2021
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Recent Developments
Competitive Section
Major players operating in the global pyrethroids market include BASF S.E., Bayer Cropscience AG, FMC Corporation, DowDuPont, Monsanto Company, Nufarm, SinoHarvest Corporation, Syngenta A.G., Sumitomo Chemical, and United Phosphorus.
Frequently Asked Questions
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