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(MoneyNewsWire.Net, March 14, 2018 ) Insecticides Market was worth USD 15.42 billion in 2016 and is expected to reach USD 20.06 billion by 2021 with a CAGR of 5.4 %.
Insecticides are pesticides used to kill insects. They are mainly used in Agriculture, Industry Medicine, and Consumers. Insecticides can give higher crop yield and good quality products if applied in appropriate amounts. But nearly all of them can affect the environment seriously and are toxic to humans. They are usually applied through Sprays, baits and slow diffusion etc.
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Increasing concerns of Insect transferrable diseases, Rising Commercial Pest management services, rising demand for food grains owing to the increasing global population, increasing Crop losses due to pests, advancements in agricultural practices or techniques and fall in per capita farm land are some of the major factors driving the market. However, some of the factors like improper handling of insecticides, and its toxic properties are slowing down the growth of the market.
Insecticides Market is segmented based on Type, Crop Type, Mode of Application and Form. Based on Type, market is segmented into Pyrethroids, Organophosphorus, Carbamates, Organochlorine, Botanicals and Others. Based on Crop Type, market is segmented into Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses and others. Based on Mode of Application, market is segmented into Foliar Spray, Seed Treatment, Soil Treatment, and Post-harvest. Based on Form, market is segmented into Sprays, strips and Baits. Organophosphorus segment commanded the market with highest share as it is cheaper than its alternatives. Bait segment is estimated to be the fastest growing segment owing to its easy to use properties.
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Geographically, market is further segmented into Asia-Pacific, Europe, North America, Latin America and Middle East and Africa. Asia-Pacific dominates the market with the largest share owing to the growing health concerns and increase in export of food grains from Asia-Pacific Countries.
Major Players in the market include BASF SE, Dow Chemical Company, E.I. DuPont De Nemours & Company, Cheminova As, Bayer Crop science AG, Nufarm Limited, Syngenta AG, Makhteshim Agan Industries, Sumitomo Chemical Company Ltd., and FMC Corporation
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