Latin America Pyrethroid market size is expected to reach USD 1.02 billion in 2024 and is anticipated to reach USD 1.40 billion by 2029, growing at a CAGR of 6.50% during the forecast period from 2024 to 2029.
Pyrethroid insecticides are primarily used as broad-spectrum household and industrial insecticides against bugs and flying insects. It is the key active ingredient in a variety of insecticide formulations. These products are low in toxicity to mammals and birds, and require very low doses to kill insects.
The market for pyrethroids in the Latin American region is driven mainly by the demand for new and various pyrethroid products with better yields for crops and quality products. Also, comparatively lenient norms and regulations against chemicals, in this region, is also driving the market growth. But, due to government regulations over the pricing of the products and also dosage, may restrict the market growth.
Based on Active ingredient type, Bifenthrin pyrethroids accounts for the largest share and followed by deltamethrin pyrethroids. Based on Crop Type, oilseed crops & pulses accounts for the largest share, followed by fruits & vegetables.
Rising disposable income levels, rising population, and food security are giving companies an opportunity to penetrate into this region, as they envisage a strong potential in the untapped markets of this region.
FMC Corporation, Bayer CropScience AG, Monsanto, Dow AgroSciences, United Phosphorus Limited, Sumitomo Chemical, Co. Ltd., Syngenta AG, and Nufarm Ltd., BASF SE and Adama agricultural solutions are the major players of Latin America Pyrethroid market.
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