The demand for food around the world is increasing at an alarming rate and the agriculture industry is pulling all stops to meet this skyrocketing demand. Of the many methods implemented to generate greater crop yield, the agriculture industry is also investing heavily in the development of effective pesticides that hold lower toxicity ratings for everyone other than the targeted pests. Piperonyl butoxide forms a crucial ingredient used to prepare some of the modern and highly effective pesticides. It finds a place of great value in Asia Pacific, where there is a very high importance given to farming and food production. Asia Pacific holds two of the world’s top populous nations, China and India. Both regions are in great need of food and are finding ways to improve crop yield.
The Asia Pacific piperonyl butoxide market is expected to expand at a CAGR of 5.05% in terms of revenue, within a forecast period from 2016 to 2024. In 2015, this revenue was calculated to have been US$10.02 mn, and is expected to hit US$15.45 mn by the end of 2024.
Agriculture Industry in Asia Pacific Demands More Carbamate
The various applications of piperonyl butoxide include the creation of rotenone, carbamate, pyrethroid, and pyrethrin. Of these, the Asia Pacific piperonyl butoxide market holds carbamate production as the leading application segment, followed by pyrethroid. Both application segments collectively accumulated a huge share of more than 75% in the Asia Pacific piperonyl butoxide market in 2015. Both are a key part of the new wave of pesticides being used around the world and are experiencing a high volume of demand from the agriculture sector.
Carbamate as well as pyrethroid hold a very low level of toxicity to the plant and to humans if consumed, as compared to the greater levels of toxicity in conventional pesticides. At the same time they are highly effective in ridding fields of pests known to be persistent despite the use of conventional pesticides.
China Continues Leading APAC in Piperonyl Butoxide Demand
With China, India, Japan, ASEAN, and the rest of APAC as the key regions associated with the Asia Pacific piperonyl butoxide market, China is found to be its market leader for 2015. China is expected to continue leading the Asia Pacific piperonyl butoxide market in terms of demand volume till 2024, after gaining a 45% share in the market in 2015. This country holds a heavy importance for agriculture over other core industries, and is showing a high need for effective pesticides. The rising demand for food across the country is creating the need for a greater crop yield, pressuring farmers and agriculture companies to use a greater proportion of pesticides. Additionally, China is leading the Asia Pacific piperonyl butoxide market in terms of growth rate in demand over other key regions such as India.
Browse the full Asia Pacific Piperonyl Butoxide (PBO) Market report http://www.mrrse.com/asia-pacific-piperonyl-butoxide-pbo-market
The key players operating in the Asia Pacific piperonyl butoxide market include Sumitomo Chemical Co., Ltd., ENDURA P.IVA, Tokyo Chemical Industry Co., Ltd., Wujiang Shuguang Chemical Co., Ltd., Capot Chemical Co., Ltd., Alfa Aesar, Shanghai Skyblue Chemical Co., Ltd., Hem Corporation, and Zhejiang Rayfull Chemicals Co., Ltd.