Deltamethrin Market size is forecast to reach US$ 420.1 million by 2026, after growing at a CAGR of 3.6% during 2021-2026 owing to growing demand in the agriculture sector. Deltamethrin is a pyrethroid ester insecticide and is widely used for the production of long-lasting insecticides nets in controlling malaria vectors. Deltamethrin is constructive against insects nets which includes orthoptera, aphids, psylla, Heteroptera, Lepidoptera, and Diptera. Moreover, Deltamethrin is commonly used in agriculture to protect crops from insects and increase production. According to the Food and Agriculture Organization of the United Nation, the global GDP share of Agriculture is around 4% and the global workforce (884 million people) are involved in agriculture activities in 2019. According to data published by World Bank, in 2020 there were US$ 5.8 billion in new IBRD/IDA commitments to agriculture and related sectors. The three million farmers choose agricultural technology for farming on 986,000 hectares of agricultural land is driving the market for deltamethrin during the forecast period.
The Covid-19 pandemic has impacted the global economy directly affecting the agriculture supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Currently, due to the COVID-19 pandemic, the core industries such as the agriculture and nonagricultural sectors have been highly impacted. According to FAO, the international food market was disturbed due to a sharp decline of demand for vegetable oil, sugar, and more or less on cereals, dairy, and oil in the Early Stage of covid in 2020. There has been a sharped decline in the revenue of the different industries. The government and private sectors are taking necessary action and working for the growth of development of different industries which results in the boom of the Cytokinins market.
Deltamethrin Market Segment Analysis – By Product Type
The Deltamethrin EC segment accounted for approximately 28% of the market share in 2020 and is estimated to grow at a significant CAGR during the forecast period. The increasing demand for Deltamethrin EC in agricultural use, public and household are driving the market. The decreasing arable land and increasing food consumption are fueling the Deltamethrin EC Market. According to FIBL, the global organic market is growing significantly and contributed the revenue of US$ 124.44 billion in 2019 and 72.3 hectares of agricultural land is under organic agriculture production globally with a growth rate of 1.5% of organic farmland. Deltamethrin EC is an insecticide that is widely used for pest control which affects the nervous system of insects and is propelling the huge demand in agriculture eventually driving the market for Deltamethrin during the forecast period.
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Deltamethrin Market Segment Analysis – By Form
The liquid form segment accounted for more than 60% of the market share in 2020 and is estimated to grow significantly during the forecast period. The increasing Deltamethrin liquid form from the non-agricultural sector is one of the major factors driving the market growth. According to the US Department of Interiors, 1 billion pounds of pesticides are used every year to control weeds, insects infestations, plants diseases, and other pests. According to FERA, there has been a 7% increase in pesticides treated area and 2% increase in the area grown in 2019 as compared to 2011 and the total area treated using Deltamethrin formulation is 1,891 hectares. Therefore the growing demand for pesticides will increase the demand for Deltamethrin liquid from the market in the forecasted period.
Deltamethrin Market Segment Analysis – By End-Use Industry
The Agriculture segment accounted for more than 70% of the market share in 2020 and is estimated to grow significantly during the forecast period. According to FAO, demand for food and animal feed uses is expected to reach around 3 billion tons by 2050 which will further increase the demand for deltamethrin in coming years. According to FIBL, Latin America has 220000 organic producers on 8 million hectares of land around 11% of the world’s organic area. Argentina, Brazil, and Uruguay cover 85% of the area for around 7.1 million hectares and are also used for pasture for livestock. Therefore growing agriculture production will contribute to the growth of the Deltamethrin Market.
Deltamethrin Market Segment Analysis – By Geography
Asia Pacific region held the largest share in the deltamethrin market in 2020 up to 33%, owing to the presence of a large amount of agriculture production. The growing demand for crops and rising cultivation due to the increasing population drive the market growth in the region. According to Invest India, Agriculture holds 16.5% of GDP in India, and around 58% of the population’s livelihood is based on Agriculture activities. The growing urbanization and large population in countries like China holding 1.44 billion, India with 1.39 billion, Indonesia with 273 million, Taiwan with 23.8 million population are driving the market of Deltamethrin during the forecast period. Moreover, the growing concern due to vector-borne diseases is driving the market. The growing demand for agricultural and nonagricultural commodities is driving the Deltamethrin market in this region.
Deltamethrin Market Drivers:
Growing Mosquito and Bedbugs related diseases
The population of mosquitos has increased significantly in the past five years. According to WHO, 1.2 million people die due to Malaria mostly in African countries annually. Globally in 2019, 229 million cases of all malaria cases were reported of which 409 000 people died with Nigeria and the Democratic Republic of the Congo accounting for the largest share in both cases and deaths. India reported 5.6 million cases in 2000-2019. Mosquitos are one of the major disease-carrying insects that have been increased and safety measures have to be taken to suppress them in recent years. The increased demand for mosquito control activities will help to increase the usage of deltamethrin during the forecast period. Bedbugs are also one of the contributors to the growth of the deltamethrin market. They are primarily found in areas, like nursing homes, schools and daycare centers, offices, hotels, hospitals, and public transportation. The growth of these insects along with the awareness about the spread of diseases by these insects is driving the market for household insecticides.
Increasing demand for Insecticides in Agriculture
The Agriculture sector showed significant growth owing to an increased population exceeding global food production. The growing usage of the best grade insecticides for agriculture production is driving the deltamethrin market during the forecast period. The increasing agriculture production will help to boost the economy of the country as well. According to the Food and Agriculture Organization of United States – Statistical yearbook 2020, agriculture production has increased by 68% from 2000-2018 to around US$ 3.4 trillion. There was a one-third increase in the usage of pesticides between 2000-2018. Therefore, the growing agriculture production will boost the deltamethrin market between 2021-2026.
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Deltamethrin Market Challenges:
Growing Environment concern due to usage of Deltamethrin
Environmental concern has always been a major challenge in the Deltamethrin market. The increasing demand for eco-friendly products is restraining the growth Deltamethrin market. It is highly toxic to the environment, especially to aquatic life forms like fish and crustaceans. Deltamethrin is also toxic to humans as it affects the nervous system causes neurotoxins and causes a variety of harmful side effects and fatalities. According to FAO, Greenhouse gas emission has been increased by 16% from 2000-2017, enteric fermentation accounts for around 40% of emissions, owing to the extensive use of harmful pest control in the environment. Therefore, a chemical compound of deltamethrin is blocking the closure of the ion gates of sodium channels during repolarization are restraining the market growth during the forecast period.
Deltamethrin Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Deltamethrin market. The Major players in the Deltamethrin market include:
Bayer CropScience AG
Heranba Industries Ltd.
Pharma AS, Virbac
Tagros Chemicals India Ltd.
Jiangsu Yangnong Chemical
Sumitomo Chemicals and Other Companies
The Asia Pacific is expected to register a CAGR of 4.6% during the forecast period (2021-2026). The increasing agriculture production in Asian countries such as China, India, Japan, and South Korea is driving the market demand for Deltamethrin.
Communicable diseases such as malaria, dengue, chickenpox are growing the demand for deltamethrin owing to the threat, the government and local bodies are taking initiatives to control the spread of diseases.
The growing adoption in the non-agriculture sector is supporting market growth. Deltamethrin is widely used in the public and household sector to control the spread of insects, bedbugs, cockroaches eventually fueling the deltamethrin market.
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