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Rapid urbanization and infrastructural developments in emerging economies are anticipated to drive the demand for Carbamate Insecticides Market.
HYDERABAD, TELANGANA, INDIA, November 11, 2022 / / -- IndustryARC, in its latest report, predicts that The size is forecasted to reach a value of US$341.6 million by the end of 2027 after growing at a CAGR of 4.5% during the forecast period 2022-2027. The carbamates are a group of insecticides that consists of compounds such as methiocarb, carbamyl, methomyl and carbofuran. It is used to kill and control pest infestation. The ease of access to insecticides, an increase in the awareness of health hazards caused due to insects and the eradication services are the key factors driving the market growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways:
This IndustryARC report on the Carbamate Insecticides Market highlights the following areas -
1. The Asia Pacific region dominates the Carbamate Insecticides market owing to the rising growth in the building & construction industry. According to the World Bank, in 2020, the building and construction industry reached about US$11.9 trillion, with an increase of about 4.2% from 2019.
2. Rapidly rising demand for Carbamate Insecticides to meet the growing demand for high-quality and quantity of crops has driven the growth of the Carbamate Insecticides market.
3. The increasing demand for Carbamate Insecticides in the agriculture sector, due to their usage to protect the crops from infectious diseases, has been a critical factor driving the growth of the market in the upcoming years.
4. However, increasing health hazards associated with the rising usage of carbamate insecticides can hinder the growth of the Carbamate Insecticides market.
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Segmental Analysis:
1. The horticulture crops segment held the largest Carbamate Insecticides Market share in 2021 and is anticipated to grow at a CAGR of 4.6% during the forecast period 2022-2027. Carbamate insecticides such as methiocarb, methomyl and carbofuran are mainly applied on horticulture crops as compared to other crops such as field and plantation crops, due to the growing demand for high-value crops among consumers.
2. The Asia-Pacific region dominated the Carbamate Insecticides Market share by 43% in the year 2021, due to the increasing requirement for carbamate insecticides in developing countries such as China, Japan, India and South Korea. China is expected to continue its dominance in the carbamate insecticides market during the forecast period.
3. The building & construction industry held the largest Carbamate Insecticides Market share in 2021 and is estimated to grow at a CAGR of 5.1% during the forecast period 2022-2027. In the building & construction industry, carbamate insecticides are utilized as sprays, baits or strips to kill insects and control pest infestation, by affecting their brains and nervous systems. These insecticides are applied in residential, commercial and infrastructural facilities to kill insects such as cockroaches, fleas, crickets, ants, aphids, scale, lace bugs, whitefly and mealy bugs.
Competitive Landscape:
The top 5 players in the Carbamate Insecticides Industry are -
1. Syngenta
2. Monsanto
3. Lebanon Seaboard
4. BASF
5. Drexel Chemical
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Related Reports:
A. Insecticides Market
B. Slow And Controlled Release Pesticides Market
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