Global Malathion Market - 2022-2029

Global Malathion Market - 2022-2029

Market Overview

Malathion is an insecticide that targets the cholinesterase enzyme family and is an organophosphate parasympathomimetic. Products containing malathion are typically offered as dust, liquids, powders, or emulsions. Only pests and insects were thought to be affected by their toxicity. It eliminates all harmful insects, mites, ticks, and other arthropods in their adult and larval stages that are harmful to people or animals. Malathion causes these pests' nerve cells to become damaged, which causes paralysis and eventually death from suffocation because they are unable to breathe. Because of the accumulation of neurotransmitters, nerve cells can become overstimulated and die or become paralyzed. Increased demand for insecticides, a growing population, and growing public awareness of pest control options are some of the factors that will fuel the market's growth.

The global malathion market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 3.89% during the forecast period (2022-2029)

Market Dynamics: Growing consumer awareness of pest control options fuels market expansion

Malathion is a pesticide that is primarily used to defend plants that produce food from opportunistic insects. Malathion pesticides, which are frequently used in agriculture, are known for their ability to control destructive pests while posing little risk to people. It kills insects by stunning their nervous systems, thus preventing them from functioning normally. it helps in the eradication of mosquitoes and fruit flies and are used in public health programs. Malathion is also used in small quantities in lice-killing shampoos. Hair lice and body lice are killed using malathion, but some studies have shown that only some of the lice were killed and that it had absolutely no effect on lice-eggs.

However, recent studies have proven that if not used with caution this material can cause serious health issues to human population and animals as well. Malathion itself is less toxic but when inhaled or ingested metabolizes into malaoxon, which is comparatively more toxic than malathion itself. When exposed to the chemical for too long, it has been found that cancer-risk could increase. Many countries have not yet banned the use of this insecticide, but have put forward regulations for the safe usage of the product in public environment so as not to cause any inconvenience to people.

Market Segmentation: Agriculture segment accounted for the highest share in global malathion market

Malathion is a pesticide used to defend plants against a variety of pests, such as mites and aphids. It can either be sprayed on top of crops or directly applied to them. Malathion is used to control a variety of pests in fruit and vegetable crops, including aphids, whiteflies, and mites. In some grasses, like rice and wheat, it can also be applied to broadleaf weeds. Grasshoppers, mites, ticks, and other insects can also be controlled with malathion; as a result, the agricultural segment is getting more profit in the malathion market.

On the other hand, malathion is also used to reduce mosquito populations in residential areas. When used properly, this pesticide's characteristics allow it to degrade quickly and without harming people or animals. Only when malathion is purposefully consumed or inhaled by someone who believes they are being affected by the chemical does it pose a threat. Nausea, vomiting, diarrhea, and symptoms resembling sunburns, like itching and redness on skin exposed during the application, are just a few of the symptoms that may appear. In these exceptional situations, emergency rooms or poison control centers should be contacted right away for assistance in determining the best course of action for treating exposure.

Geographical Penetration: Europe is the dominating region during the forecast period

With rising demand for residential pest control applications and increased consumption of pesticide formulations containing organophosphates as a result of growing concerns about the health risks posed by chemical insecticides, the market for malathion in Europe is anticipated to grow rapidly starting in 2021. The market for household malathion in Europe is anticipated to expand as people's awareness of the dangers of diseases spread by flies and mosquitoes in urban areas grows. As a result, Europe holds the highest share in the malathion market. Malathion was off the market in Europe for a while owing to its ill effects but has been recently brought back into the European market by public demand. However, the toxicity of malathion is recognised to an extent in Europe, and therefore its use is restricted to greenhouses only, residues are permitted in various types of food.

Competitive Landscape

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players include AkzoNobel, Dow, Suven Life Sciences, Paramount Pesticides, Huludao Lingyun Group, Xinyi Taisong Chemical, Coromandel, Shivalik Rasayan, Sinochem, and Biostadt. Companies in the market focus on mergers and acquisitions and investing in regional expansion to increase their global prominence. For instance, on 13th June 2022, AkzoNobel introduced a coating that repels mosquitoes to help fight disease. A potent mosquito-repellent coating created by AkzoNobel's Coral brand is a new ally in the fight against an invasive carrier of dengue fever for Brazilians. On 12th March 2018, Taro Pharmaceuticals, North America, received an exclusive license and right to distribute and market Suven Life Sciences Ltd's Malathion Lotion USP 0.5%, a biopharmaceutical product.

COVID-19 Impact Negative impact on the global malathion market

The COVID-19 pandemic has presented a number of challenges to numerous industries around the world. Obstacles have appeared in the commercial, industrial, and other sectors. Due to supply chain disruptions and employee shortages brought on by quarantines, many projects in these industries have been put on hold. Due to a broken supply chain and a halt in the transportation of fertilizer and agricultural supplies, production and demand in the agriculture sector have also decreased. As a result, a number of industries have been somewhat hampered by the global halt in industrial production and distribution, as well as the demand for and consumption of malathion. The U.S. Department of Agriculture (USDA) estimates that the value of eight major crops, including corn, oats, sorghum, barley, upland cotton, rice, wheat, and soybeans, was US$ XX billion at the beginning of February 2020. The forecasted total value of production was reduced by X % to US$ XX billion with the WASDE report in June 2020. As a result, during the COVID-19 pandemic, the demand for malathion was hampered by the decline in agricultural production.

The global malathion market report would provide an access to approximately 61 market data tables, 57 figures and 170 pages