Chemical insecticides Market Size – USD 13.97 Billion in 2020, Growth - CAGR of 8.0%, Trends- Surging demand for non-toxic Chemical insecticides.
According to a recent analysis by Reports and Data, the global Chemical Insecticides Market size was valued at USD 13.97 Billion in 2020 and is estimated to exceed USD 25.85 Billion in terms of revenue, delivering a CAGR of 8.0% over 2021-2028. Rise in incidence of vector-borne diseases, favourable government initiatives promoting the usage of household insecticides, and advancements in insecticide discharge technology such as aerosols, gels and sprays, are the key factors driving market growth.
Chemical insecticides Market Growth:
The global Chemical insecticides market is expected to grow in the coming years due to factors such as increasing population, urbanization, and rising health consciousness among consumers. The growth in construction activities, especially in developing countries, is also driving the market demand. Innovation in product development and advancements in technology, such as eco-friendly insecticides, are also contributing to market growth. However, increasing concerns over the hazardous effects of chemical insecticides on human health and the environment may act as a restraint for the market growth.
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Top Companies: Spectrum Brands, SC Johnson, Shogun Organics Ltd, Bayers AG, Nicols, BASF SE, Aristo Biotech and Life Science Pvt. Ltd., Godrej Consumer Products, Zapi SpA, Bharat Group, HPM Chemicals and Fertilizers Ltd, Walco-Linck Company, FMC, Natural Insecto Products Inc, Gharda Chemicals Ltd, and AIMCO pesticides Limited.
Further Key Finding from the Report Suggestion:
- On the basis of product type,the mosquito fly repellent segment is forecast to showcase the fastest growth rate over the projected timeframe on account of growing concerns over vector-borne diseases across the globe
- Based on composition, the natural segment is forecast to observe fastest growth rate over the analysis period. The robust growth can be attributed to the increasing consumer inclination towards organic or natural insecticide products.
- Based on packaging,the small packaging segment is expected to gain major traction through 2028 owing to ease of use and portability of the product. The limited shelf-life of Chemical insecticides is expected to boost small packaging demand in the coming years.
- In the regional landscape, North America is forecast to be a major revenue contributing region for the global Chemical insecticides market share over the analysis period. The robust growth of the industry can be attributed to largest production and consumption of Chemical insecticides in the United States.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Chemical insecticides market is segmented into:
Type Outlook (Revenue, USD Billion, 2018 - 2028)
- Mosquito Fly Control
- Rodent Control
- Termite Control
- Bedbugs Beetle Control
Composition Outlook (Revenue, USD Billion, 2018 - 2028)
- Citronella Oil
- N,N-Diethyl-Meta-Toluamide (DEET)
- Hydroxyethyl Isobutyl Piperidine Carboxylate (Picaridine)
Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2028)
- Convenience Stores
- Drug stores
- Online Stores
- Neighborhood Stores
Packaging Outlook (Revenue, USD Billion, 2018 - 2028)
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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