Pyrethroid Market

Global Pyrethroid Market Size (2024 to 2032)

The global pyrethroid market was valued at USD 9.16 billion in 2023 and is estimated to be worth USD 9.66 billion in 2024 and is anticipated to reach USD 14.83 billion by 2032, growing at a CAGR of 5.5% during the forecast period from 2023 to 2032.

Current Scenario of the Global Pyrethroid Market  

Pyrethroids are synthetic insecticides like pyrethrins found naturally in chrysanthemum flowers. They are a particular chemical class of active ingredients related to pyrethrins and resemble them in insecticidal properties. The pyrethroids are synthetic analogs of naturally occurring pyrethrins, which are produced to enhance the insecticidal activity of pyrethrins by increasing their stability in light. They have a peculiarly short life and biodegrade immediately in the presence of sunlight due to high light sensitivity. Pyrethroids are extensively used to control agriculture, public health, and animal health pests. The first-generation pyrethroids are primarily synthesized by modification of the alcohol part of the molecule, which shows higher efficacy. The global pyrethroid market has accounted for significant growth in the past years and is anticipated to record substantial growth during the forecast period. It acts as a nerve toxin and leads to paralysis and eventual death of the targeted insects, due to which it has become the most widely used insecticide around the globe.

• For instance, the number of people using insecticides in the United States will be 193.75 million in 2024, increasing from 188.14 million in 2020.

Global Pyrethroid Market Drivers

The escalation of insecticide demand in the agricultural industry is a significant factor contributing to the prominent growth of the pyrethroid market. The rising population worldwide is enhancing the demand for food production and is influencing the adoption rate of insecticides and pesticides, leading to substantial market growth. The continuous investments by the market players in research and developmental activities to enhance innovations in formulations, effectiveness, and adaptability to diverse applications are augmenting the global pyrethroid market revenue. The increasing product adoption among the farmers due to the product's advantages, such as its ability to mix with fertilizers efficiently, which provides pest control and nourishment of crops, is positively influencing the expansion of the market growth. The extensive utilization of pyrethroids in public health owing to increasing vector-borne diseases is fueling the adoption rate, leading to notable market growth. The growing government support initiatives and the favorable policies from international organizations and regulatory authorities are proliferating market growth opportunities. The global shift towards sustainable and eco-friendly practices is enhancing the adoption of pyrethroids as they are biodegradable and produce minimal residue in soil and water with lower toxicity, which is one of the significant drivers of the global market.

• For Instance, the global agricultural use of pesticides is estimated to increase from 4.3 million metric tons in 2023 to 4.41 million metric tons in 2027. Additionally, Americans utilize most pesticides, which account for more than half of the world's total utilization.  

Global Pyrethroid Market Restraints

The high costs associated with premium pyrethroid products, which make it difficult for smaller and middle-income farmers, are the significant factors restraining the global market growth. There are rising concerns regarding the harmful effects of the utilization of pyrethroids as these are highly toxic to human health, and bifenthrin on the skin may cause tingling, scratching, burning, or numbness, and bifenthrin inhalation affects the nose, throat, and lungs. These scenarios are estimated to hamper the global market growth. The major drawback of pyrethroids is that they are highly photolabile, whereas first-generation pyrethroids have hours of half-lives, limiting market growth. The increasing concerns regarding environmental pollution are expected to hinder the pyrethroids market revenue as these pollute the environment, which impedes the market growth rate.

Global Pyrethroid Market Opportunities

The rising technological advancements in agriculture and the increased focus of the market players on developing innovative molecules to sustain their position in the industry are creating opportunities for the global pyrethroid market in the coming years. The increasing mergers and acquisitions among the major market players are escalating the growth opportunities for the key players, positively influencing the market expansion. The low mammalian toxicity and higher efficacy towards the pests are accelerating the adoption rate.

Global Pyrethroid Market Challenges

The stringent regulations by the regulatory authorities in the approval of products and launches comprise high complexity, making it a significant challenge for the market players in expanding the global market revenue. The rising government regulations regarding environmental effects, which are limiting the utilization of pesticides, are estimated to negatively impact market expansion.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Pyrethroid Market Analysis By Active Ingredient Type

The cypermethrin segment dominated the global pyrethroid market with a significant share and is expected to grow notably during the forecast period. The primary factors contributing to the substantial segment revenue are the extensive usage of cypermethrin and the higher adoption in various industries such as agriculture, public health, and veterinary use. The significant factors propelling the adoption rate of cypermethrin are its low toxicity to mammals and biodegradability, which fuels the segment growth rate. The efficient efficacy of cypermethrin towards broad-spectrum insects is enhancing its adoption as the preferred choice for pest control.

The Bifenthrin segment is projected to register prominent growth during the forecast period with a rapid CAGR. Various advantages of bifenthrin, such as low vapor pressure water solubility,h efficient hydrolysis,s, and photolysis stability, are escalating the segment growth rate. The bifenthrin is most commonly used against invasive red fire ants and is effective against aphids, worms, and other insects, propelling the segment's growth opportunities.

Global Pyrethroid Market Analysis By Crop Type

The cereals and grains segment accounted for the largest share of the global pyrethroid market revenue and is anticipated to dominate during the forecast period. The pyrethroids are crucial in managing pests in grains and cereals, fueling the segment's revenue growth. The grains are highly prone to pests such as storage moths, grain weevils, and rice weevils. This enhances the necessity of adopting pyrethroids for elimination, leading to segment expansion. The increased production rate of cereals and grains, owing to their more significant consumption in the human diet, positively influences segment growth.

The oils and pulses segment is estimated to record substantial growth with a significant CAGR during the forecast period. Oils and pulses are the most widely required crops for the food industry, and these are more susceptible to a wide range of insect pe affecting crop yield, enhancing the segment with growth opportunities. The increased introduction of advanced agricultural practices in these crops boosts the segment revenue.

REGIONAL ANALYSIS

The Asia Pacific region held the most significant share of the global pyrethroids market revenue and is expected to proliferate in the coming years. The expanding agricultural practices, rapid urbanization, and increasing population are a few factors propelling the regional market share growth. The increasing population is enhancing the demand for more food production, influencing the requirement for efficient pesticides, and leading to substantial market growth across the region. The growing government support initiatives, sustainable agricultural practices, and demand for toxic insecticides augment regional market growth.

• For Instance, the annual growth rates exceed 2.0 percent each year, and the Asia Pacific region grew by about 48 million persons, which represents over 56 percent of global population growth.

The North American region is predicted to register prominent growth during the forecast period owing to the presence of agricultural solid and pest control market players in the region. The increasing agricultural practices in the region, along with advanced technologies and extensive utilization of pesticides in various crucial crops, are augmenting the regional market revenue. The rising investments by the market players in R&D activities to enhance innovations in compositions and improve the efficiency of insecticides are propelling regional market growth opportunities.

• For Instance, the number of Americans using insecticides has increased from 188.14 million in 2020 to 193.75 million in 2024.

The European region is estimated to have steady growth with a notable CAGR during the forecast period. The increasing vegan population across the region is enhancing the demand for plant-based foods, which contributes to the expansion of the pyrethroid market across the region. The increasing agricultural productivity and the cost-effective advantage of pyrethroid are creating growth opportunities for the regional market.  

KEY MARKET PLAYERS 

FMC Corporation, Bayer CropScience AG, Monsanto, Dow AgroSciences, United Phosphorus Limited, Sumitomo Chemical, Co. Ltd., Syngenta AG, Nufarm Ltd., BASF SE, and Adama Agricultural Solutions are some of the primary vital players involved in the global Pyrethroid market.

RECENT HAPPENINGS IN THE GLOBAL PYRETHROID MARKET

• In August 2023, Albaugh LLC, an Ankeny-based Chemical manufacturing company, announced the launch of a new soybean insecticide known as Afiado. This insecticide is a combination of Acetamiprid and Bifenthrin.
• In January 2023, BASF SE, a Germany-based chemical company, introduced Axalion Active in Australia, which is a novel insecticide that comprises dimpropyridaz, which is extensively used in controlling various pests.  

DETAILED SEGMENTATION OF THE GLOBAL PYRETHROID MARKET INCLUDED IN THIS REPORT

This research report on the global pyrethroid market has been segmented and sub-segmented into the following categories.

By Active Ingredient Type:

• Bifenthrin
• Deltamethrin
• Permethrin
• Cypermethrin
• Cyfluthrin,
• Lambda-cyhalothrin
• Other types

By Crop Type:

• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Other Crop Types

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa