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The global pyrethroids market size was valued at US$ 3,323 Million in 2020.
According to the estimates by IMARC Group, the global pyrethroids market is expected to witness a CAGR of 4% from 2021 to 2026.
The extensive applications of pyrethroids in the agriculture sector with the growing population and diminishing farmlands, global adoption of novel farming practices for improving yield represents one of the key drivers for the global pyrethroids market.
The leading players are focusing on enhancing the production and distribution of pyrethroids to compete with their synthetic counterparts which is one of the key trends in the global pyrethroids market.
Due to the surge in the cases of the coronavirus disease (COVID-19) and lockdowns imposed by governments of numerous countries, manufacturing units of leading players have been temporarily closed to prevent the spread of the pandemic. This, in confluence with disruptions in the supply chain, has negatively impacted the growth of the market.
On the basis of the product type, the market has been bifurcated into bifenthrin, deltamethrin, permethrin, cypermethrin, cyfluthrin, lambda-cyhalothrin and others. Currently, others account for the majority of the market share.
On the basis of the crop type, the market has been divided into cereals & grains, oilseeds & pulses, fruits & vegetables and others. Among these, fruits & vegetables represent the largest segment.
On the basis of the pest type, the market has been segmented into bollworms, borers, aphids, jassids, thrips, moths, fleas & flies and others. At present, bollworms exhibit a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global pyrethroids market are BASF, Bayer CropScience, Corteva Agriscience, Nufarm, SinoHarvest Corporation, Sumitomo Chemical, Syngenta, United Phosphorus, Arysta Lifescience, Cheminova, FMC, Monsanto, Shanghai Mingdou Agrochemical, Adama Agricultural Solutions Ltd, etc.
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