The pyrethroids are synthetic insecticides that are modeled on natural pyrethrins which are found in chrysanthemum flowers. They are non-systemic, contact insecticides and act as neurotoxins and sodium channel modulators that lead to hyperexcitation of the insect nervous system. The active ingredients in pyrethroids including allethrin, permethrin, cypermethrin, deltamethrin and beta-cyfluthrin are commonly used for agricultural, residential and commercial insect control in the forms of pesticide sprays, powders, vaporizers and liquid concentrates. They have become popular substitutes for organophosphate and carbamate insecticides due to their low toxicity to mammals.

The global Pyrethroids Market is estimated to be valued at US$ 90 Billion in 2031 and is expected to exhibit a CAGR of 43.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. The increasing demand for effective and low-risk insecticides from the agriculture sector to protect crops from pests is a key factor driving the growth of the market. Pyrethroids are widely used for controlling a wide range of agricultural insect pests including aphids, whiteflies, thrips, corn rootworms, Colorado potato beetles and many others. They offer advantages such as quick knockdown and killing effect on insects, low usage rates, favorable toxicology profile and being biodegradable. However, the development of insect resistance towards pyrethroids is a major challenge for the industry.

Market Key Trends:

One of the key trends in the Pyrethroids Market is the development of new formulations and combination products. Manufacturers are focusing on research and development activities to introduce new formulations such as microencapsulated pyrethroids, pyrethroid mixtures and synergized products. This is done to expand the spectrum of insect control and overcome issues related to insect resistance. For example, formulations combining pyrethroids with piperonyl butoxide (PBO) have been commercialized, as PBO acts as a synergist by inhibiting insect cytochrome P450 enzymes involved in pyrethroid detoxification, thereby enhancing their efficacy. Such combination products provide effective, longer-lasting protection against insects and help sustain the market demand for pyrethroid insecticides.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the pyrethroids market requires high capital investment for R&D and manufacturing plants. However, substitutes offer low entry barriers.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can easily switch to substitutes if price and quality are not met.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers for raw materials. However, suppliers of key chemicals wield some power.
Threat of new substitutes: The threat of substitutes is high as alternatives such as neonicotinoids and fipronil are available. Continuous innovation is driving new substitute development.
Competitive rivalry: Competition in the market is high among global players. Players compete based on product offerings, prices, and quality.

Key Takeaways

The global Pyrethroids Market Growth is expected to witness high growth over the forecast period.

Regional analysis:

North America is estimated to hold the largest market share due to stringent regulations regarding pest control and vector-borne disease management. Growth across Western European countries is driven by rising pyrethroid demand for agricultural applications to protect crops from insects. The Asia Pacific region is estimated to grow at the fastest rate due to a surge in awareness and growth in acceptability of pyrethroid-based formulations for household insecticides.

Key players operating in the pyrethroids market are BASF S.E., Bayer Cropscience, Nufarm, FMC, Syngenta, and Sumitomo Chemical. The market is highly concentrated with the top five players accounting for over 70% share. Players compete based on product differentiation, quality, and cost. They are focusing on strengthening their distribution networks and adopting strategies like mergers and acquisitions for market expansion

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