As important as the production of raw food is, its preservation is equally paramount. Ensuring that the quality of food grains remains intact until they reach their prospective consumers from the fields of production will go a long way towards serving the increasing demand for food across the globe.
Browse the full Asia Pacific Piperonyl Butoxide Market Report: http://www.mrrse.com/asia-pacific-piperonyl-butoxide-pbo-market
Piperonyl butoxide (PBO) is an organic compound extensively used as a component in pesticides, which help in controlling insects and pests in and around food handling establishments. Especially in the region of Asia Pacific, which constitutes nearly half of the world’s population and a significant chunk of it under poverty-line, the market for PBO is steadily growing.
According to a study by Transparency Market Research (TMR), the Asia Pacific market for piperonyl butoxide was valued at US$10.02 mn in 2015. Rising at a modest CAGR of 5.0% during the forecast period 2016–2024, the APAC valuation of PBO is estimated to reach US$15.45 mn by 2024.
Agricultural Purposes Driving Demand
The increasing threat of infestation caused to the crops by pests and the concurrent rise in the adoption of pesticides is driving the Asia Pacific market for PBO. According to the TMR report, nearly 25% of the overall crop production is wasted due to infection caused by insects and pests in Asia Pacific, a region that has conducive climatic conditions for insects to thrive in.
It has been observed that insecticides containing PBO are significantly costlier than traditional insecticides such as organophosphate, organosulfur, and benzoylurea. Farmers in cost-dependent markets of Asia Pacific refrain from PBO-based insecticides as their alternatives are equally effective, albeit harmful for the end users. This is projected to hinder the development of the PBO market in the region.
Carbamate Remains Key Market Segment
Piperonyl butoxide finds application in several pesticides such as carbamade, pyrethrin, pyrethroid, rotenone, permethrin, deltamethrin, bioallethrin, and bioresmethrin. Out of these, carbamate presented the most prominent demand for piperonyl butoxide in 2015. Pyrethroid served as the second most widely preferred application of PBO in 2015, and these two top segments collectively accounted over 75% of the Asia Pacific market that year.
Among the relatively recent generation of insecticides are carbamate, pyrethrin, and pyrethroid. While pyrethrin and pyrethroid are preferred by farmers because of their low cost and effective toxicity, the use of carbamate is extended beyond the agriculture sector and caters to the need for pest control in households as well. This factor has propelled the demand for carbamate in the recent past and is projected to further fuel the demand during the forecast period.
China Leads Asia Pacific’s Piperonyl Butoxide Market
The piperonyl butoxide market in Asia Pacific can be geographically categorized into China, India, Japan, ASEAN, and Rest of APAC. In 2015, China held a prominent share in the market, generating more than 45.0% of the demand that year. This was owing to the growing usage of insecticides for crop protection in the country. Additionally, the rising demand for food in the world’s most populated country is expected to further escalate the demand for piperonyl butoxide in China.
Browse the full Press Release of Asia Pacific Piperonyl Butoxide Market at :http://www.mrrse.com/piperonyl-butoxide-pbo-market
On the other hand, India – another heavily populated country – and smaller nations such as Japan and Bangladesh and countries in Southeast Asia are also emerging as prominent markets for PBO. Nevertheless, the higher growth rate of China is expected to continue, enabling it to remain the market leader during the forecast period 2016–2024.