Insecticides Market to Witness Heightened Revenue Growth During the Prediction Period

Insecticides Market is expected to garner $16.7 billion by 2020, registering a CAGR of 5.0% during the forecast period 2014 to 2020. The Asia-Pacific regional market held over 44% of the total global insecticides' market in terms of value in the year 2013.

In the Asia-Pacific region, India is the largest market due to high agricultural production of sugarcane, paddy, cotton and other crops, resulting in high consumption of related pesticides. On the other hand, the use of pesticides is gradually decreasing in developed markets such as North America and Europe due to increased production of genetically modified crops that are resistant to insects and pests. As a result, North America and Europe now account for approximately 40% of the global pesticide market as a whole.

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Companies operating in this market focus on product launches as part of their growth strategy; for instance, in the U.S., DOW Agroscience and Bayer Cropscience launched new insecticides, namely, Sequoia, Closerand Sivanto.

Key companies profiled in the report are

BASF

Bayer AG

DOW Agriscience LLC

Syngenta AG

Cheminova A/S

FMC Corporation

Adama Agricultural Solutions Ltd

Nufarm Ltd

E.I Du Pont de Numerous

Company and Monsanto.

In terms of value, Organophosphate insecticides hold nearly 30% market share in the global insecticides' market by types. Organophosphate insecticides are widely used owing to their multiple applications such as fumigant, systemic or contact insecticide. Many large-sized companies such as DOW, Syngenta, and BASF manufacture Organophosphate insecticides via trade names - Lorsban, Dursban, Curacron and others. The high demand and ready availability are the factors driving the consumption of the Organophosphate insecticides globally. Another product type, namely Synthetic Pyrethroid insecticide is also widely used, as it is a broad-spectrum insecticide, stable under direct exposure to sunlight and requires minimum usage to control insects. These benefits are cumulatively adding to the growth/consumption of Synthetic Pyrethroid insecticides. The global insecticides market, however, faces many restraints; for instance, environmental and health-related regulations. Recently, i.e., in September 2014, a new regulation banned the production of Chlorpyrifos insecticide as it was found to be harmful to children. Regulatory control on synthetic insecticides is paving the way of increased usage of bio insecticides in agriculture. As a result, research and development to innovate new categories of bio insecticides is also gaining prominence. In 2015, Montana Department of Commerce, U.S., will fund a project to develop a new fungal bio insecticide to control bark beetles in forestry.

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Key Findings of Insecticide Market 

Sale of Organophosphate insecticide is expected to dominate the global insecticides market during the forecast period

In terms of volume, organophosphate segment is expected to grow at a CAGR of 5.3% during the forecast period, highest among all

Asia-Pacific would be one of the leading markets, both in terms of market size and growth rate. Asia-Pacific would reach $7.2 billion by 2020, with a CAGR of 4.5%

India holds the largest market share in Asia-Pacific region and would generate more than 50% of the revenue through 2020