Stepper Motor
According to the new research report published by The Insight Partners, titled “Pyrethrin Market to 2027 – COVID-19 Impact and Analysis by Type (Pyrethrin I and Pyrethrin II), Pest Type (Lepidoptera, Coleoptera, Mites, Diptera and Others), Application (Agricultural Insecticides, Household Insecticides, Commercial and Industrial, Animal Healthcare, and Others), and Geography,” the market was valued at US$ 235.35 million in 2019 and is projected to reach US$ 353.53 million by 2027; it is expected to grow at a CAGR of 5.3% from 2020 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.
The pyrethrinmarket was valued at US$ 235.35 million in 2019 and is projected to reach US$ 353.53 million by 2027; it is expected to grow at a CAGR of 5.3% from 2020 to 2027.Pyrethrin is defined as an organic insecticide which is obtained from dried chrysanthemum cinerariifolium flowers and is applied as an insecticide. Pyrethrin is extensively used in agriculture, household, animal health, pharmaceutical, wood protection, and disease control application bases. It is replacing organochlorides and organophosphates as the pesticide of choice. They are increasingly being used as an effective alternative of organochlorides and organophosphates and are highly preferred to pyrethroids, a synthetic form of pyrethrin which gets accumulated in the environment.
Based on pest type, the pyrethrinmarket has been segmented into mites, lepidoptera, coleoptera, coleoptera, diptera, and others. In 2019, the diptera dominatedthe market with the largest share. The diptera or true flies include insects, such as midges, mosquitoes, sandflies, blowflies, and houseflies. The class of diptera flies contaminates the food and spreads diseases such as typhoid, malaria, and cholera. The dipteran larvae are legless. They live in aquatic, semi-aquatic, or moist terrestrial environments. Pyrethrin, as an insecticide, is highly capable of directly impacting the nervous system of diptera flies. This kills them directly or ends up harming their reproductive systems. Rise in adoption rateof pyrethrin as an insecticide due to its strong and life threatening effects on diptera has favored the global pyrethrin market.
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COVID-19 pandemic has been affecting economies and industries in various countries, including the US, Brazil, Russia, India, Italy, the UK, Iran, and Spain. Chemicals and materials is one the world’s major industries suffering serious disruptions in the form of supply chain breaks, event cancellations, and office shutdowns as a result of the lockdowns imposed in various countries to contain the disease spread. China is the global manufacturing hub and the largest raw material supplier for various industries; it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various chemical and materials. These factors are likely to restrain the growth of various markets related to the chemicals and materials industry in next few financial quarters.
Botanical Resources Australia Pty Ltd; China Xi’an Nutrendhealth Biotechnology Co, Ltd; Endura;Zhejiang Rayfull Chemicals Co.,Ltd.;Pestech Australia Pty Ltd.;Scintex; Sumitomo Chemical Co., Ltd.;Horizon Sopyrwa;Kapi Limited; and Zhengzhou Delong Chemical Co., Ltd are among the well-established players in the global pyrethrin market.
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