Pyrethroids are synthetic insecticides similar to pyrethrins found naturally in chrysanthamum flowers. These insecticides are very affective and degrade to harmless derivatives in the atmosphere within a week in sunlight.
Pyrethroid market is driven by their perpetual demand from household market as well as agricultural market. However, strict regulations over their usage quantities might hamper the market growth. New better variants that are less toxic to humans and animals can be an exploitable market opportunity.
Pyrethroid market can be segmented, based on their end-users, into four key market segments as households, agriculture, horticulture, turf and industrial. Agriculture segment is the largest segment for pyrethroid insecticides globally. However, households segment is expected to be the fastest growing segment attributed to their low toxicity. Growth in horticulture and turf and industrial segments is also aiding the growth of pyrethroid market.
The common pyrethroid product types available in the market include cypermethrin, deltamethrin, fenvalerate, permethrin, phenothrin, pyrethrins and resmethrin. There are many more varieties available which are modifications of the common types according to their applications and end use.
Asia Pacific is the largest as well as fastest growing market for pyrethroids. Rapidly growing economies in the region especially China, India, Pakistan and Indonesia are major consumers of pyrethroids. Latin America is another rapidly growing market for pyrethroids. Pyrethroids are majorly used by households and agriculture in these regions. North America is another big market for pyrethroids with major consumption in agriculture, horticulture and turf and industrial segments.
Some of the players in the Pyrethroid market include Syngenta AG, BASF SE, Bayer Cropscience, Bilag, Dow agrosciences, Monsanto, ICL, Grotal, Sumitomo chemicals and E.I. Du Pont De Nemours & Company among many others.
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