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Pyrethroid is an organic compound similar to natural pyrethrins formed by pyrethrum flowers. Pyrethroids are used as insecticides for livestock and domestic usage. Pyrethroids are typically less risky for humans in household proportions. Synthetic pyrethroids are synthetic disposables and variants of the original pyrethrin and contain a collection of a number of insecticides. While they are equivalents of pyrethrins, their development has involved severe chemical modifications that make them extremely toxic and less recyclable in the environment.
Due to rising population, people have become very aware of healthy food, and their inclination towards changed lifestyle has led to increased application of synthetic pyrethroids which has led to the widespread use of synthetic pyrethroids in the world. Thus increased awareness of people related to the benefits of synthetic pyrethroids along with increased application in agriculture is driving the market. The price volatility of the raw material used for handling is calculated as a limiting factor in the market for synthetic pyrethroids. Moreover, high competition between major players in the market, due to lack of availability, also hinders the growth of the market.
Based on type, the market for global synthetic pyrethroids is segmented into lambda-cyhalothrin, deltamethrin, cypermethrin, bifenthrin, permethrin, and others. On the basis of application, the market is classified into agriculture and public health. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Market Driver -
Increased awareness of people related to the benefits of synthetic pyrethroids along with increased application in agriculture is driving the market.
Key Market Restraint -
The volatility in prices and rising competition among the global giants are hindering the market growth.
The global synthetic pyrethroids market is fairly fragmented, with number of players operating in the global markets. Some of the key players in the global synthetic pyrethroids include Yangnong Chemical, Heranba, Tagros, Meghmani, Changlong Agrochemical, Hengdian Group, Aestar, Jiangsu Huangma Agrochemicals, Jiangsu Chunjiang, Jiangsu RedSun, Shanghai Tenglong Agrochem, Guangdong Liwei, Gharda and others.
The global synthetic pyrethroids market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the pyrethroid insecticides with a greater extent of insecticide utilization by its vast population. Huge manufacturing plants in Asia, due to the accessibility of knowledgeable labor and land availability, and relatively lesser strict chemical standards and regulations, have led to an increase in the market. Countries like Canada and U.S. are growing rapidly and the population's disposable income is increasing. It, is projected to fuel the development of pyrethroid insecticides, contributing to the growth of the demand for synthetic pyrethroids in North America. Europe is projected to rise comparatively slowly than other parts of the world because of its tight policy regulation over hazardous chemicals. The Middle East and the African region will rank among the recent advances led by regional industrial growth, in specific the progress of production plants The demand for pyrethroids has been augmented by the intense cultivation of oilseeds in Latin America.
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