Pesticides for use in agriculture, hospitals, residences, schools, and restaurants are frequently made using pyrethroids. Moreover, the compounds are employed in smoke coils, aerosol sprays, electric mats, oil formulations, wettable powders, emulsifiable concentrates, and dustable powders for the topical treatment of head lice. Some drivers driving the growth of the pyrethroids market include the widespread use of pesticides to boost agricultural output and the rising demand for home items containing pyrethroids, such as pet sprays and shampoos, insect repellents, and lice treatment treatments. The widespread application of pyrethroids in the residential and agricultural sectors is the main factor driving market expansion. In order to enhance production in response to the growing population and decreasing amount of farmland, farmers all over the world are employing cutting-edge farming practises. Pyrethroids are therefore commonly employed in agriculture and other related industries. They act as a more affordable substitute for the insecticides that are typically employed. The market is expected to continue growing as a result of the rising demand for pyrethroids in the household and commercial sectors for the treatment of clothing and mosquito control.
According to Coherent Market Insights, Revenue for the global Pyrethroids Market was estimated at US$ 3781.9 Million in 2021, growing at a CAGR of 5.18% over the projected period (2022 to 2030).
Market Leaders in the Pyrethroids Industry:
1. BASF S.E.
The business was established in 1865 and has its main office Ludwigshafen, Germany. Chemicals, plastics, performance goods, practical solutions, agricultural solutions, and oil and gas are among the six business segments that the company engages in. BASF announced intentions to invest in the growth of its polymer dispersions manufacturing facility in Daya Bay, China, in March 2023. With R&D innovation and a commitment to a sustainable lifestyle, BASF produced healthy beauty in February 2023.
2. Bayer Cropscience AG
The firm was founded in 1863 and is based in Leverkusen, Germany. The business sells seeds, crop protection, and non-agricultural pest management items. Herbicides, insecticides, fungicides, and seed treatments are among the crop protection goods that the business produces. Bayer announced an extension of its assistance and alleviation efforts in India's fight against COVID-19 in May 2021.
3. FMC Corporation,
The business was founded in 1883 and has its headquarters in Philadelphia, Pennsylvania, United States. The business offers agricultural pesticides for plants in the same family as sunflowers, grapes, cotton, sweet corn, sorghum, potatoes, cotton, and seed corn. It also sells fungicides, insecticides, and other crop chemicals. FMC Company engaged in a new programme to enhance youth chances in Kenyan agriculture in March 2023. The collaborative agreement between FMC Corporation and Micropep Technologies to co-develop bioherbicide technologies was announced in December 2022.
4. DowDuPont
The business was established in 2017 and the business is headquartered in Wilmington, Delaware, United States. Construction materials, adhesives, electronics, fabrics, fibres, home and garden items, medical devices, resins, printing, and consumer goods are just a few of the many things that the company produces. DuPont stated in November 2021 that it planned to buy Rogers Company for $5.2 billion.
5. Monsanto Company,
The firm was established in 1901 and is located in St. Louis, Missouri, United States. The business sells vegetable seeds as well as corn, soybean, cotton, wheat, and sorghum seeds. The Monsanto Company is a well-known manufacturer of genetically modified crops, prescription medications, and pesticides.
6. Nufarm
The business was established in 1916 and the business is headquartered in Melbourne, Australia. The business produces phenoxies, a group of herbicides used to suppress and get rid of weeds with broad leaves. Nufarm introduced NuBio in March 2021, which brings together biological knowledge under the NuBio umbrella brand.
7. Syngenta A.G.,
The business was founded in 2000 and has its headquarters in Basel, Switzerland. A provider of agricultural research and technology, Syngenta AG specialises in seeds and herbicides. In June 2020, ChemChina ceded all of its agricultural operations to the Syngenta Group, which has since expanded to encompass Adama as well as Sinochem's and Syngenta's agricultural operations.
8. Sumitomo Chemical.
The firm was founded in 1913 and is based in Chuo City, Tokyo, Japan. The business produces chemical products with a focus on petrochemicals, fine chemicals, and specialty chemicals like photo-resists, pharmaceutical intermediates, and agrochemicals. Globally, Sumitomo Chemical runs manufacturing facilities and sales offices.
*Definition: Pyrethroids are man-made chemicals that resemble pyethrin, a naturally occurring chemical found in Chrysanthemum cineraria folium and Chrysanthemum coccineum blooms.
