The global pyrethroids market was valued at US$ 3.82 billion in 2016 and is expected to reach US$ 5.71 billion by 2025, witnessing a CAGR of 4.65% during the forecast period (2017 - 2025). According to a Pyrethroids Market Report, by Product Type (Bifenthrin, Deltamethrin, Permethrin, Cypermethrin, Cyfluthrin and Others), by Crop Type (Crop Based and Non-crop Based). Pyrethroids are a class of synthetic compounds that are based on chemical structure of naturally occurring insecticide pyrethrins. They are a broad-spectrum potent insecticides that control insects at low application rates. Pyrethroids are safer for humans as compared to organophosphates as mammals have extensive enzyme systems that are capable of metabolizing and detoxifying pyrethroids. They are widely used to control insect pests, such as ants, fleas, termites, bed bugs. The pyrethroid is effective and low cost insecticide for commodity crops, specialty crops, controlling fire ant quarantine in many crops, and nursery plants, controlling pests such as mosquitoes, flies, ticks that transfer pathogens of diseases, such as Zika, Lyme, and West Nile to humans, livestocks, and pets is driving the growth of global pyrethroid market.
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Key Trends and Analysis of the Pyrethroids Market:
A wide variety of application of permethrin as an insecticide for crop protection, killing livestock parasites, preventing insect attacks on woolen products, disinfection in the aviation industry, and treating head lice is expected to propel its demand in the market. Furthermore, it is used as insect repellent in timber and pet flea preventative treatments and in mosquito repellent and military clothing.
Based on crop types, the crop based segment held a dominant position in 2016 and is expected to maintain its dominance throughout the forecast period. Pyrethroids are used as insecticides for protecting cereals and grains, oilseeds and pulses, fruits, and vegetables, owing to their low input cost. According to the Pyrethroids Working Group— an alliance of the pesticide industry—pyrethroid contributed over US$ 1.6 billion due to its wide application in specialty and commodity crops, in the U.S.
Key Takeaways of the Market: