Growing requirements for agricultural products has led to the growth of global deltamethrin market. Deltamethrin can be defined as an active ingredient used in synthetic insecticides for pest control in the world. Deltamethrin is very toxic to aquatic life as hence should be used with lots of precaution in water. It affects the nervous system of insects and hence deltamethrin has become very popular among the pest control operators in US. However, deltamethrin is listed among safe pesticides for use around humans. Deltamethrin is exposed to the environment when applied to crops and animals. Deltamethrin finds a lot of application in agricultural uses. It is also used in the elimination and prevention from a wide range of pests in house. It is also authorized to use in UK as a pesticide. Deltamethrin does not cause any cancer risk to human according to EPA (Environmental Protection Agency). The global deltamethrin market is anticipated to witness a high single digit growth in the forecast period.
Deltamethrin market: Drivers and restraints:
The global deltamethrin market is expected to grow in the near future as deltamethrin is recognized as one of the safest pesticides in the world. The growing demand for agricultural products due to the growth in population is anticipated to drive the global deltamethrin market in the upcoming years. The increasing need for better yield due to the decreasing arable land is projected to be a major demand driver for the global deltamethrin market. The growing paints and coatings industry is also projected to rise the demand for deltamethrin, thus boosting the global deltamethrin market. Moreover, the rise in global food consumption is also anticipated to fuel the global deltamethrin market in the forecast period.
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On the other hand, deltamethrin contaminates the soil when applied to crops. Stringent government regulations pertaining to the use of pesticides is anticipated to restrain the growth of global deltamethrin market in the upcoming years. Wildlife protection agencies and environment protection regulations are also expected to affect the growth of global deltamethrin market in the forecast period. The major players in the global deltamethrin market are opting for product development to meet the standards according to the governmental regulations.
Deltamethrin market: Segmentation
The global deltamethrin market can be segmented based on end use as:
- Home pest control
- Paint additives
- Others (commercial buildings, hotels, shops, food storage premises, factories)
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Agriculture is expected to hold the maximum share in the global deltamethrin market. Moreover, it is expected to witness maximum growth rate in the forecast period.
Deltamethrin market: Region-wise outlook:
The global deltamethrin market can be broadly segmented into seven key regions based on geography as North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific and Middle East and Africa. North America contributes highest share in the global deltamethrin market. United States is expected to hold the highest share on the basis of country in the global deltamethrin market. Western Europe is expected to have second highest share in the global deltamethrin market. However, the government regulations in these areas are expected to be major factors for fluctuations in the growth in deltamethrin market. Asia Pacific is expected to demonstrate maximum growth rate with an emphasis on using less toxic insecticides.
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Deltamethrin market: Major key players:
Some of the major key players identified in the global deltamethrin market are:
- Bayer CropScience AG
- Nufarm Limited
- FMC Corporation
- Heranba Industries Ltd.
- PHARMAQ AS
- Tagros Chemicals India Ltd.