The deltamethrin sales are projected to reach US$ 373.0 million by 2032 end. Growing demand from various end-use industries such as agriculture, paints and coatings, food and beverages, construction, etc. remain key growth driving factors for the market.
According to FMI, the deltamethrin market is estimated to be valued at US$ 247.2 Million in 2022 and is projected to increase at a CAGR of 4.2% in the forecast period from 2022 to 2032.
Attributes
Details
Market Size (2021)
US$ 236.8 Million
Market Size 2022
US$ 247.2 Million
Market Size 2032
US$ 373.0 Million
Value CAGR (2022 to 2032)
4.2%
Deltamethrin is used in synthetic insecticides as an active ingredient to control insects and pests all over the globe. It should be used with a lot of precaution while using in a hydrosphere as it affects the nervous system and may prove harmful to aquatic animals. According to the Environmental Protection Agency, it does not cause any harm to humans and does not have any risk of cancer.
The agricultural industry uses deltamethrin most frequently for pest control and has been used in many applications such as paints, commercial buildings, food storage, etc.
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Deltamethrin Historic (2015 to 2021) Vs. Forecast (2022 to 2032) Market Outlook
The market of Deltamethrin witnessed a CAGR of 3.4% over the historical period of 2016 and 2021. The increasing demand for Deltamethrin from the agriculture industry has led to an increased demand for Deltamethrin over the historical period. However, there was a considerable impact of the Covid-19 pandemic on the global economy which directly affected agricultural supply chains around the world and shut down manufacturing facilities to minimize the risk of spreading the virus.
However, as per the current survey conducted by FMI, the forecast growth outlook for Deltamethrin is to remain around 4.2% for the period of 2022 and 2032. Governments and the private sector have taken the necessary steps and are committed to the growth of the development of various industries, which has led to a boom in the deltamethrin market over the forecast period.
What are the Various Factors Driving the Deltamethrin Market?
As one of the world's safest pesticides, it is projected that the global market for deltamethrin would be driven by the rising demand for agricultural products as a result of population expansion. Deltamethrin is effective against a variety of insects, including Diptera, Heteroptera, Aphids, and Orthoptera.
Additionally, deltamethrin is frequently used in agriculture to protect crops from pests and boost yields. According to the Food and Agriculture Organization of the United Nations, 884 million people worldwide are employed in agriculture-related activities in 2019. Agriculture accounts for around 4% of the global GDP.
According to data published by the World Bank, new IBRD/IDA pledges to the agricultural sector and allied industries totaled US$ 5.8 billion in 2020. During the projected period, the market for deltamethrin will be driven by the three million farmers who select agricultural technology for farming on 986,000 hectares of agricultural land.
The deltamethrin market will be the growing desire for greater yield as a result of the shrinking amount of arable land. The expanding paints and coatings sector is also anticipated to increase demand for deltamethrin, propelling the worldwide deltamethrin market. Additionally, it is expected that the deltamethrin market will be stimulated throughout the forecast period by the increase in food consumption.
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How Stringent Environmental Regulations May Hinder the Deltamethrin Market's Growth?
The market for deltamethrin has always faced environmental challenges due to the rising demand for environmentally friendly products. The environment, especially aquatic life forms like fish and crabs, is severely harmed by it because it affects the nervous system, produces neurotoxins, and results in a variety of negative side effects and fatalities, deltamethrin is dangerous to people as well.
According to FAO, the extensive use of damaging pest control in the environment has resulted in an increase in greenhouse gas emissions of 16% between 2000 and 2017. Enteric fermentation accounts for about 40% of emissions. The chemical substance deltamethrin is impeding market expansion over the forecast period.
Segment-wise Analysis
What are the Sales Prospects of the Agricultural Segment in the forecast period?
In 2020, the Agriculture sector held more than 70% of the market share, and it is anticipated that it will expand significantly over the next five years. According to FAO, there will be a further increase in demand for deltamethrin in the upcoming years as the demand for food and animal feed is anticipated to reach about 3 billion tonnes by 2050.
On 8 million hectares of land or around 11% of the world's organic area, 220,000 organic producers are located in Latin America, according to FIBL. Around 7.1 million hectares, or 85% of the region, are occupied by Argentina, Brazil, and Uruguay and are also used as animal pasture. The market for deltamethrin will therefore expand as agricultural production increases.
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Region-wise Analysis
Why Asia-Pacific region holds the largest market share in the Deltamethrin Market?
Asia-Pacific is considered to be the most important market for deltamethrin and is expected to hold the largest share of the Deltamethrin Market due to the region's extensive agricultural production, accounting for up to 33% of global sales.
The region's market is expanding as a result of rising agricultural consumption and more farming brought on by the rising population. According to Invest India, the agriculture sector accounts for 16.5% of India's GDP and provides a living for almost 58% of the country's population.
During the projected period, the market for deltamethrin will be driven by the rising urbanization and population in nations like China, which has a population of 1.44 billion, India, 1.41 billion, Indonesia, 273 million, and Taiwan, which has 23.8 million people. Additionally, the industry is being driven by the rising concern caused by vector-borne diseases.
Market Competition
Key players operating in the deltamethrin market include Bayer Crop Science AG, Rotam, Nufarm Limited, FMC Corporation, Heranba Industries Ltd., PHARMAQ AS, Virbac, and Tagros Chemicals India Ltd.
The primary strategies taken by the key players in the deltamethrin market are product expansion, mergers, and acquisitions. For instance, on 12 May 2017, US EPA establishes tolerance levels of deltamethrin for oranges and citrus foods.
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 4.2% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2017 to 2021
Forecast Period
2022 to 2032
Quantitative Units
Revenue in USD Million, Volume in Tons, and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
Product Type
End-Use
Region
Regions Covered
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa (MEA)
Key Countries Covered
The USA
Canada
Mexico
Brazil
Germany
The UK
France
Italy
Spain
Russia
China
Japan
India
GCC Countries
Australia
Key Companies Profiled
Bayer CropScience AG
Rotam
Nufarm Limited
FMC Corporation
Heranba Industries Ltd.
Pharma AS, Virbac
Tagros Chemicals India Ltd.
Jiangsu Yangnong Chemical
Gharda Chemicals
Sumitomo Chemicals and Other Companies
Customization & Pricing
Available upon Request
Key Segments Profiled in the Deltamethrin Market Report
By Product Type, Deltamethrin Market is segmented as:
What was the value of the Deltamethrin market in 2021?
In 2021, the value of the Deltamethrin market reached over US$ 236.8 Million.
At what rate is the Deltamethrin market projected to expand during the forecast period?
During the forecast period, the Deltamethrin market is estimated to expand at a CAGR of 4.2% from 2022 to 2032.
By 2032, what will the value of the Deltamethrin market?
The Deltamethrin market is projected to reach US$ 373.0 Million by the end of 2032.
Which region/country is set to lead the Deltamethrin market?
China is projected to lead the Deltamethrin market in the forecast period.
Which are the top players in the Deltamethrin market?
The key players operating in the Deltamethrin market are Bayer Crop Science AG, Rotam, Nufarm Limited, FMC Corporation, Heranba Industries Ltd., PHARMAQ AS, Virbac, and Tagros Chemicals India Ltd.
