Cypermethrin Insecticide Market

Cypermethrin Insecticide Market Is Estimated To Witness High Growth Owing To Increasing Demand From Agricultural Industry

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The Cypermethrin Insecticide market is estimated to be valued at US$ 2.42 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.4 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Cypermethrin insecticide is an active ingredient that falls under the class of synthetic pyrethroids. It is mainly used to control a wide variety of pests in agricultural crops such as vegetables, fruits, cereals and in non-agricultural settings such as gardens and households. Cypermethrin insecticide is used to control insect pests such as aphids, caterpillars, Colorado beetles and plant hoppers. It acts as a contact and stomach poison which disrupts the nervous system of insects.

Market Dynamics:
Increasing demand from the agricultural sector is the major factor driving the growth of cypermethrin insecticide market. The agricultural industry has witnessed significant growth over the past few years owing to increasing population and decreasing arable land. Farmers are using various insecticides to protect their crops from damaging pests and maximize yield. This has boosted the demand for cypermethrin insecticide globally. Furthermore, cypermethrin insecticide is highly effective against a broad spectrum of pests and it biodegrades quickly after application. Its cost effectiveness as compared to other synthetic pyrethroids is also propelling the market growth. However, stringent regulations pertaining to the use of synthetic pesticides due to their toxicity may hamper the market growth.

SWOT Analysis
Strength: Cypermethrin insecticide is highly effective against various pests including rice stem borers, cotton bollworms and fruit flies. It has a low mammalian toxicity and is widely used in agriculture and households. It acts quickly and has a broad spectrum of pest control.
Weakness: Cypermethrin insecticide has high toxicity to bees, fish and other aquatic life. Prolonged exposure can potentially cause health issues in humans as well. Sudden changes in weather can reduce its effectiveness.
Opportunity: Expanding agricultural sector and rising food demand provides growth opportunities. Increasing awareness about organic produce will boost demand for natural and eco-friendly pest control methods.
Threats: Stringent regulations around the world to reduce toxic chemicals in the environment. Emergence of pest resistance due to continuous and excessive use of the product. Development of alternative biopesticides.

Key Takeaways
The global Cypermethrin Insecticide Market is expected to witness high growth, exhibiting a CAGR of 5.4% over the forecast period, due to increasing food demand driven by rising population.

Regional analysis: Asia Pacific dominates the global market with a share of over 35% in 2023 due to extensive agriculture in countries such as India and China. North America is projected to exhibit the fastest growth during the forecast period due to growing uptake of organic farming techniques.

Key players: Key players operating in the Cypermethrin Insecticide market are FMC Corporation, BASF SE, Bayer AG, Sumitomo Chemical Co., Ltd., Syngenta AG, Adama Agricultural Solutions Ltd., UPL Limited (previously United Phosphorus Limited), Nufarm Limited, Tagros Chemicals India Ltd., Heranba Industries Limited.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it