The report "Insecticides Market by Type (Pyrethroids, Organophosphorus, Carbamates, Organochlorine, Botanicals), Crop Type, Mode of Application, Formulation (WP, EC, SC, EW, ME, GR), and Region - Global Forecast to 2022", The global insecticides market is estimated to be valued at USD 14.51 Billion in 2017 and projected to reach USD 19.27 Billion by 2022, at a CAGR of 5.8% from 2017 to 2022.
The market is driven by factors such as the fall in per capita arable land, tolerance to biotic stresses such as insects, and the growing agricultural sector. Moreover, population growth exceeds global food production, owing to which the use of best grades of insecticides for agriculture will benefit growers and the economically backward population in developing countries. As a result, many multinational players have entered into the production of various products of insecticides that protects the crop loss and provides nutritional ingredients.
By crop type, the cereals & grains segment is projected to dominate the insecticides market during the forecast period.
Corn, rice, and wheat are the major crops that are treated with insecticides in the cereals & grains segment. Since cereals are grown in almost all countries, the global demand for insecticides is high, and this trend is expected to continue over the next five years. On a global level, the total cereal production has been increasing, and with the growth in cereal production and consumption, it has become important for producers to focus more on its yield and quality by using effective insecticides. The cereals & grains market is witnessing growth as they are a rich source of vitamins and minerals, and are used in large amounts in animal feed.
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By type, the organophosphate segment is projected to dominate the insecticides market during the forecast period.
Organophosphates are the most widely used insecticides as they is cheaper than other alternatives. Currently, organophosphates still find use in agriculture, homes, gardens, and veterinary practices; however, several organophosphates have been discontinued for use in the past decade. Though the market for orgaophosphates as insecticides is growing steadily, there are high risk factors associated with the production of the same. Stringent government rules on usage of chemical insecticides, coupled with the advent of bioinsecticides as a potent substitute, are the key factors restraining the growth of organophosphate insecticides market.
By formulation, the emulsifyable concentrates segment is projected to dominate the insecticides market during the forecast period.
An emulsifiable concentrate formulation usually contains an oil-soluble liquid active ingredient, one or more petroleum-based solvents, and a mixing agent. Emulsifiable concentrates are a widely used formulation for insecticides across the globe, mainly because of their versatility for use in agricultural as well as non-agricultural applications. They are adaptable to any type of sprayer, ranging from portable sprayers to hydraulic spraying machines. They are relatively easier to handle for treating large areas, which is the main reason for emulsifyable concentrates dominating the insecticides market.
By mode of application, the foliar spray segment is projected to dominate the insecticides market during the forecast period.
Usage of foliar spray is the highest for insecticides due to its ease of application and high effectiveness. Foliar spraying is a technique of treating plants with liquid insecticides directly to their leaves. It is an excellent solution for plants experiencing pest attacks. Foliar spray is also recommended when environmental conditions limit the uptake of nutrients through roots. Such conditions may include high or low soil pH, temperature stress, too low or too high soil moisture, root disease, the presence of pests that affect nutrient uptake, and nutrient imbalances in the soil. Formulations such as wettable powders, liquid concentrates, and emulsions can be used by this mode of application.
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Emerging markets for insecticides in Asia Pacific
Agricultural expansion for livelihood security in countries such as China and India, are the major factors contributing to the increasing sales of insecticides in this region. The developing economy in this region and inconsistent regulations on pesticides usage across different countries are the major factors contributing to the exponential growth of the Asia Pacific insecticides market as compared to other regions. Asia Pacific has wide climatic variations and a high degree of plant diversity. Hence, the use of insecticides is widespread throughout the region. The increasing awareness about pesticides and continuous technological advancements are factors contributing to the growth of this market. In addition to this, the growing demand for crops and rising cultivation in the countries of Asia Pacific have forced agribusiness companies to expand their supplier and manufacturing base in the region.
