Global Insecticides Market by (Type & Crop type) is estimated to reach $16 Billion by 2019 - New Report by MarketsandMarkets
(PRWEB) September 21, 2014 -- According to a new market research report entitled, “Insecticides Market by Type [Organophosphorus Compounds, Pyrethroids, Neonicotinoidsn Methyl Carbamate, and Others (Macrocyclic Lactones, Phenylpyrazoles, and Benzoylureas)], by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), & Geography - Global Trends and Forecasts to 2019” published by MarketsandMarkets, the market is projected to grow from the value of $13,037.5 million in 2013 to $16,436.0 million by 2019, at a CAGR of 4.7% recorded from 2014 to 2019. It expects North America and Asia-Pacific to dominate the global insecticides market, in terms of value.
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According to the report, the global insecticides market is dominated by North America and the Asia-Pacific, which together contributed around 58.8% to the global market in 2013. While the U.S. led the market in North America with a 70.0% share, China and India were the biggest users of insecticides in the Asia-Pacific region. The tropical climate of the region is conducive to the growth of insects, which the report expects to be one of the major drivers for the market.
Organophosphorus compounds: The Largest Market Segment
The report segments the global insecticides market into organophosphorus compounds, pyrethroids, neonicotinoids, methyl carbamate, and others (macrocyclic lactones, phenylpyrazoles, and benzoylureas)]. Organophosphorus compounds account for the largest share in the “by type” classification category of the report. North America and Asia-Pacific are the largest consumers of organophosphorus compounds.
Global Insecticides Market: By Crop Type
The report further classifies the global insecticides market on the basis of four categories of crop types, which include cereals & grains, oilseeds & pulses, fruits & vegetables, and other crops. As per the report, North America was the largest consumer of cereals & grains in 2013, followed by Latin America. The Asia-Pacific region was the leading consumer of insecticides for fruits & vegetables and other crops.
Asia-Pacific: The Largest Market for Insecticides
According to the report, Asia-Pacific was the largest market for insecticides in 2013. North America was second, followed by Latin America. Brazil, China, and the U.S. are the key revenue generating countries for the Latin American, Asia-Pacific, and North American markets, respectively. Brazil generated maximum revenues in Latin America, followed by Argentina. China led the market in the Asia-Pacific region.
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The report categorizes the insecticides on the basis of the active ingredients used in them. Organophosphorus compounds dominated the insecticides market globally, accounting for more than 25% of the market in 2013. Other insecticides have also been used extensively and they hold a substantial share in the market as well. As per the report, North America is the largest consumer of organophosphorus compounds, followed by the Asia-Pacific region.
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