Insecticides are pesticides used to kill or inhibit the growth of insects. Selective insecticides kill specific targets while leaving the desired crop relatively unharmed. Increasing demand for agricultural products and decreasing arable land are driving the insecticides market. The insecticides market is driven by many factors: profitability margin in this segment, adoption of modern farming & protected agriculture, change in farming practices & technology, and high returns on investments. This market is projected to reach a value of $16,436.0 million by 2019, at a CAGR of 4.7% from 2014 to 2019.
In terms of regions, the report is segmented into North America, Europe, Asia-Pacific, Latin America, and Rest of the World (ROW). Asia-Pacific was the largest market for insecticides in 2013, followed by North America. The Asia-Pacific market is projected to grow at the fastest CAGR of 5.4% from 2014 to 2019. China and India are the largest markets in this region.
The global insecticides market is segmented on the basis of type into organophosphorus compounds, pyrethroids, neonicotinoids, methyl carbamates, and others. The global insecticides market is also segmented by crop type into the following segments: cereals & grains, oilseeds & pulses, fruits & vegetables, and others.
The major players of the market are E.I. DuPont DE Nemours and Company (U.S.), BASF SE (Germany), Cheminova AS (Denmark), DOW Chemical Company (U.S.), and Bayer CropScience AG (Germany)
Agreements, collaborations, joint ventures, and partnerships is the most common strategy followed by these companies and will be so from 2014 to 2019. Mergers & acquisitions is projected to be the second most followed strategy for the same period.
In the global insecticides market, the organophosphorus compounds segment had the largest market share of 27.6%. It was followed by the pyrethroids segment. The organophosphorus segment had a 16.7% share in 2013 and is projected to grow at a CAGR of 5.3% to reach a value of $4,664.7 million by 2019.
Scope Of The Report
The global insecticides market is analyzed in terms of revenue ($million) based on the following classifications:
On the basis of type:
- Organophosphorus compounds
- Methyl carbamates
On the basis of crop type:
- Cereals & grains
- Oilseeds & pulses
- Fruit & vegetables
On the basis of geography:
- North America
- Latin America
- Rest of the World (ROW)