Global Permethrin Market - 2023-2030

Global Permethrin Market - 2023-2030

The Global Permethrin Market reached US$ 195.1 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 322.9 million by 2030. The market is expected to exhibit a CAGR of 6.5% during the forecast period (2023-2030).

A pyrethroid insecticide called permethrin is used mostly to treat scabies and head lice. It is a skin-applicable synthetic topical medicine. The mites and their eggs are killed, acting as an insecticide. The substance is a synthetic pyrethroid, cyclopropane-carboxylate ester, consisting of a 2-2-dicholorovinyl group with gem-dimethyl groups and the esterifying alcohol 3-phenoxybenzyl alcohol. Due to a large rise in the compound's demand, the permethrin market is predicted to skew toward the growth curve.

A neurotoxin, permethrin kills lice, ticks, and scabies by paralyzing their neurological systems. During the forecast period, it is anticipated that demand would increase for the use of permethrin to treat lice and scabies, as well as mosquito control, and tick control with little harm to crops. The substance is also utilized as an insect repellent in many tropical regions where dengue and malaria are common, which is driving the permethrin market growth.

Market Dynamics

The Increasing Use of Permethrin in Various End-Use Industries is Driving the Market Growth

A general-purpose acaricide is a permethrin. According to its independent course of action, permethrin kills both intended pests and random enemies. It is used as a pest control product and is applicable in veterinary products. In addition to acting as an insect repellent, permethrin is lethal to some parasites. The mode of action of permethrin is to act as an insect repellent, permethrin is lethal to some parasites.

The enormous demand for permethrin is being driven by the growing need for insect spray in the agricultural sector as agricultural chemicals to improve crop development for improved yields and healthier crop growth. Cotton, wheat, maize, and lucerne are the vital crops that the permethrin market is employed on.

Benefits Associated with Permethrin is Driving the Permethrin Market Growth.

Children who have scabies can receive effective treatment alternatives like permethrin. Permethrin, a synthetic pyrethroid, is also used as a topical 5% cream to treat scabies in children. The US Food and Drug Administration has also given approval for its usage in treating patients older than 2 months. Growing awareness of public health insecticides is driving the permethrin market growth. Over the projection period, it is anticipated that all of the factors mentioned above will influence the growth of the permethrin market opportunities.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global permethrin market is segmented based on form, application, and region.

In the Global Market of Permethrin, the Agricultural Segment Holds the Largest Market Share.

The global permethrin market has been segmented by application into agricultural, industrial, medical, domestic, textile, and personal care. The agricultural segment held the largest permethrin market share of 42.6% in 2022 in the permethrin market analysis report. In agriculture, permethrin is mostly applied to infected crops. These are regarded as one of the key drivers of increased agricultural output. These are frequently used on a variety of crops, including cereals and grains, oilseeds and pulses, as well as fruits and vegetables.

Permethrins can have a greater impact on target organisms and provide greater advantages to crops when used in a timely manner. In 2021, 10.8 billion tons of primary crops were produced, which is a 53% increase over the year 2013, according to the Food and Agriculture Organisation. Thus, as agricultural productivity rises, so does the need for permethrin.

Geographical Analysis

The Asia-Pacific Held the Largest Share in Permethrin Market

The Asia-Pacific permethrin market held the largest market share of 58.4% in 2022 in the permethrin market analysis. In India, it's estimated that the chance of agrarian workers in the total manpower would drip to 25.7 by 2050 because of urbanization whereas the total population is anticipated to grow to 1.64 billion. So, it's important to acclimatize to technological advancements to enhance effectiveness in order to meet the boosting food demand.

Penetration situations of fungicides are also fairly low in Asian countries which are anticipated to increase in the future. For instance, the total irrigated crop area in India was 215.6 million acres in 2020 and the fungicides request was $3.18 billion whereas, in the USA, the irrigated crop area is 55.9 million acres whereas’s fungicides request is $16.74 billion. The adding consciousness among cultivators about the increase in productivity by using fungicides and germicides will boost the market growth in the coming eras.

Competitive Landscape

The major global players in the market include Bluebell Pharma, Crop Life Science, Kalyani Industries, Golden Harvest Chemical, Kangmei Chemical, Tagros, Jiangsu Lanfen, Sumitomo Chemical, Aimco Pesticides, and Aestar.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

Covid-19 Impact:

The COVID-19 pandemic affected the permethrin market strongly. Since 2019, the worldwide crisis caused by the COVID-19 pandemic has majorly impacted most industries. The COVID-19 pandemic affected many economies around the globe in 2021. Many combat measures, like complete lockdowns and quarantine for two consecutive years, 2020 and 2021, to fight COVID-19, have strongly affected many industries worldwide, including a portion of the agricultural fertilizers industry.

Mainly in the agriculture sector, insecticides have registered a strong slowdown in sales in 2020 and the first quarter of 2021 due to the disturbance in logistics and transportation in many countries. Along with these, the Permethrins market registered disruptions in the entire sector's value chain from raw materials supply to manufacturing, packaging, and distribution.

Why Purchase the Report?
• To visualize the global permethrin market segmentation based on form, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of permethrin market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global permethrin market report would provide approximately 93 tables, 109 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies