Insecticides are a specific type of pesticides used to obliterate insects. Among different types of insecticides, globally organophosphate market leads in terms of both revenue generator and consumption chiefly due to its cost effectiveness as well as its ability to be applied on wide range of crops and targeted insects. Pyrethroid has the second largest usage in agriculture, as it is highly effective even when used in low quantities and therefore, it is less hazardous to the environment and human health. Market demand for bio-based insecticides is also increasing, as it is environmentally-friendly in nature. Bayer AG, Cheminova A/S, Syngenta AG, BASF FMC Corporation, Adama Agricultural Solutions Ltd, Monsanto, DOW Agroscience LLC, Nufarm Ltd, and Du Pont are some of the key market players operating in the market. The companies are focused on ‘new product launch’ to enhance their market share. In 2014, DOW Agroscience launched two insecticides, namely, ‘Sequoia’ and ‘Closer’. Bayer Cropscience has also launched a new insecticide, called ‘Sivanto’.
The global insecticides market is segmented on the basis of type, crop type and geography. Global insecticide market by type is categorized into organophosphates, pyrethroids, methyl carbamates, neonicotinoids and others. Bio-insecticide is gaining acceptance due to its low level of toxic influence on the natural environment. Currently, the bio insecticide market holds a limited share in the global insecticide market in terms of value and volume both. Geographically, the global insecticide market is segmented into North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific dominates the global market over the other regions both in terms of value and volume. One of the prime factors for the market dominance of the Asian region is the limited usage of insecticides in the production of crops in both North America and Europe, as these regions are focusing on harvesting genetically modified crops. Secondly, especially in India, tropical weather and high volume of production of cereals such as paddy, cotton and others are major driving factors for the market of insecticides.
KEY MARKET SEGMENTS
The global insecticides market is segmented into two major categories: type, crop type and geography.
MARKET BY TYPE
MARKET BY CROP TYPE
MARKET BY GEOGRAPHY