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| Cypermethrin Insecticide Market |
The global Cypermethrin Insecticide Market is estimated to be valued at US$ 2.42 Bn in 2023 and is expected to
exhibit a CAGR of 5.4% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Cypermethrin is a synthetic pyrethroid insecticide primarily used in
agricultural and household insect control. It works by disrupting the sodium
channel in the nerve cells of insects, leading to convulsions and paralysis.
Cypermethrin is commonly used for controlling insects such as aphids, spider
mites, caterpillars etc. on a variety of crops like cotton, cereals, fruits and
vegetables. High agricultural production due to ever rising global population
has boosted the demand for effective insecticides like cypermethrin. Its low
toxicity towards humans also makes it a preferred choice for agricultural as
well as household insect control needs.
Market key trends:
One of the key trends in the cypermethrin insecticides market is the
development of newer formulations. Manufacturers are focusing on developing
water-based suspensions, emulsifiable concentrates and liquid formulations to
improve cypermethrin's shelf life and ensure effective delivery. Growing
preference for organic farming has also led to increased adoption of
botanical-based cypermethrin alternatives. Furthermore, stringent regulations
around pesticide residues have prompted innovation in application techniques
and equipment to optimize cypermethrin usage and minimize run-offs.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Cypermethrin
Insecticide Market is low due to high capital investment required in
R&D and manufacturing along with stringent regulations for launching new
insecticides.
Bargaining power of buyers: The bargaining power of buyers is high in the
cypermethrin insecticide market owing to the presence of many established
manufacturers and brand availability. Buyers can easily switch between
insecticide brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as
the key raw materials used in cypermethrin insecticide manufacturing such as
chloroacetic acid and cyclohexanone have few manufacturers globally.
Threat of new substitutes: The threat of new substitutes is moderate as there
are various alternative insecticide chemistries and products available that can
be used for similar applications as cypermethrin.
Competitive rivalry: The competitive rivalry is high due to presence of many
global and regional manufacturers competing on pricing and new product launch.
Key Takeaways
The global cypermethrin insecticide market is expected to witness high growth,
exhibiting CAGR of 5.4% over the
forecast period, due to increasing pest infestation in agricultural crops.
Regional analysis: Asia Pacific dominates the cypermethrin insecticide market
and is expected to grow at the fastest rate during the forecast period owing to
large agricultural land and increasing pesticide usage in major economies like
India and China.
Key players: Key players operating in the cypermethrin insecticide market are
FMC Corporation, BASF SE, Bayer AG, Sumitomo Chemical Co., Ltd., Syngenta AG,
Adama Agricultural Solutions Ltd., UPL Limited (previously United Phosphorus
Limited), Nufarm Limited, Tagros Chemicals India Ltd., Heranba Industries Limited.
FMC Corporation and BASF SE captured over 35% of the global market share in
2019.
Read More: https://www.trendingwebwire.com/cypermethrin-insecticide-market-demand/