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Bifenthrin Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2031)
ID : CBI_1390 | Updated on : | Author : Nishant Kale | Category : Agriculture & Animal Feed
Bifenthrin Market Size :
Consegic Business Intelligence analyzes that the bifenthrin market size is growing with a CAGR of 9.1% during the forecast period (2023-2031). The market accounted for USD 997.88 million in 2022 and USD 1,084.04 million in 2023, and the market is projected to be valued at USD 2,178.59 Million by 2031.
Bifenthrin Market Scope & Overview:
Bifenthrin is a synthetic pesticide belonging to the pyrethroid family. Pyrethroids are synthetic chemicals, which are natural insecticides found in chrysanthemum flowers. It works by disrupting the nervous system of insects. By binding to sodium channels in nerve cells, the compound disrupts the flow of electrical signals within the insect's nervous system, leading to death. As per the analysis, the compound is a broad-range insecticide meaning it can be applied to a wide spectrum of insects and pests. Hence, it is widely used in agricultural insecticides and pesticides to protect crops from insect damage. Additionally, it is also used in residential and commercial settings to control a wider range of insects and pests.
Global Bifenthrin Market Insights :
Bifenthrin Market Dynamics - (DRO) :
Key Drivers :
Rising agricultural production is leading to an increased demand for effective pesticides and insecticides
The escalating agricultural production assists as one of the prominent reasons fuelling the requirement for effective solutions for pesticides and insecticides which is driving the requirement for this compound across the globe. Agricultural production is majorly prone to the damage caused by insects and pests. Higher output attracts more pests and diseases leading to increased reliance on insecticides and pesticides to protect yields. Additionally, the monoculture cultivation system creates a predictable environment for pests, making them thrive and necessitating greater pesticide use.
The compound is a broad-spectrum insecticide and actively targets a wide range of insects in various crops, including cotton, corn, soybean, fruits, vegetables, orchards, and ornamental plants. The compound boasts an extended residual activity, remaining effective on plant surfaces for weeks reducing the frequency of reapplication. Moreover, as per the analysis, the significant rise in agricultural production is fueling the requirement for bifenthrin-based insecticides and pesticides.
For instance,
- According to the India Brand Equity Foundation in November 2023, the total production of cotton in India increased from 31.1 million bales (bales of 170 kg each) in the year 2021-22 to 34.3 million bales in 2022-23.
Consequently, the significant rise in agricultural production is driving the trend for this compound.
The increasing use of bifenthrin in residential applications is contributing to the phenomenal growth of the market
Bifenthrin is an essential compound in the insecticides and pesticides utilized for pest control in residential settings. It is a versatile synthetic pesticide extensively used in residential applications to combat nuances caused by a variety of pest invaders. It forms the backbone of many professional pest control treatments for termites, ants, roaches, crickets, and spiders among others. Similarly, owing to these applications new products are being launched which is fueling the trend of this compound.
For instance,
- In December 2023, Greenzone announced the launch of a Bifenthrin termiticide product named ‘Greenzone Bifenthrin 100 Low Odour Termiticide'. Greenzone's Bifenthrin available in a 10L container is a versatile chemical that effectively controls a variety of pests, including termites, ants, cockroaches, and more.
As a result, the rising use of this compound in residential applications is contributing to the phenomenal expansion of the market.
Key Restraints :
A surge in the demand for biopesticides is limiting the market
Rising awareness regarding the harmful effects caused by traditional chemical-based pesticides and insecticides is motivating the requirement for advanced solutions such as biopesticides. Biopesticides are pest control agents derived from natural sources such as microorganisms. The introduction of biopesticides is limiting the demand for this compound as these pesticides offer several benefits over chemical pesticides such as target specificity, reduced risk of pest resistance, and safer for the environment. As per the analysis, owing to these benefits leading players launching biopesticides which are hampering the bifenthrin market growth and trends.
For instance,
- In December 2023, Syngenta launched a new biopesticide CERTANO in Brazil for sugarcane. CERTANO contains Bacillus velezensis, a multifunctional microbe that fights nematodes and diseases common to many sugarcane crops.
Overall, the surge in the requirement for biopesticides is hindering the bifenthrin market demand.
Future Opportunities :
Rising incidences of vector-borne diseases is expected to project the market expansion in upcoming years.
The rising prevalence of vector-borne diseases has motivated the requirement for more advanced solutions for insects and pests which serve as potential vectors for disease transmission. Vector-borne diseases are human illnesses caused by parasites, viruses, and bacteria that are transmitted by vectors. Insects such as mosquitoes, flies, ticks, and bugs among others play a major role in the transmission of diseases such as dengue, malaria, zika virus fever, yellow fever, West Nile fever, Japanese encephalitis, and tick-borne encephalitis. As per the analysis, the escalating incidences of these diseases are expected to propel the requirement for effective insecticides like this compound to combat them.
For instance,
- According to the data published by the Pan American Health Organization in September 2023, the Zika virus, transmitted primarily by Aedes mosquitoes, caused 27,000 cases in the year 2023.
Consequently, the growing prevalence of vector-borne diseases is expected to propel the requirement for bifenthrin-based insecticides further creating lucrative opportunities and trends for the market in the near future.
Bifenthrin Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 (USD Million) | USD 2,178.59 Million |
| CAGR (2023-2031) | 9.1% |
| By Form | Solid (Powder and Granules), and Liquid |
| By Application | Insecticide and Pesticide, Pest Control, and Others |
| By End User | Agricultural, Residential, Commercial, and Industrial |
| By Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Players | FMC Corporation, LGC Limited, BASF SE, Albaugh LLC., Syngenta, bharatgroup.co.in., Bayer AG, and ADAMA |
| Geographies Covered | |
| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, Cost Analysis, and Regional Trends & Forecast |
Bifenthrin Market Segmental Analysis :
By Form :
The form segment is bifurcated into solid and liquid. In 2022, the liquid segment accounted for the highest bifenthrin market share of 62.45% in the bifenthrin market and is also expected to hold the fastest CAGR over the forecast period. Liquid formulations are widely preferred by farmers and pest management experts owing to their simple operation. This form is easy to dilute according to the requirement and is easily sprayed making it convenient to use. Additionally, liquid formulations are more precisely applied to the target areas, reducing the risk of harming non-target organisms and the environment. Similarly, based on the analysis, liquids provide better coverage of surfaces, ensuring that the pesticide reaches the intended target. Hence, new liquid formulations containing this compound are being launched which is significantly fueling the expansion of the segment.
For instance,
- In August 2023, Albaugh, the provider of post-patent crop protection products, announced the launch of a soybean insecticide containing bifenthrin namely ‘Afiado' in Brazil. This new solution works in controlling the soybean stinkbug, which is considered a difficult pest to control throughout the harvest. This new product is a liquid formulation that is more modern and easier to configure, handle, and administer.
Overall, the convenient application of liquid formulations is driving the expansion of the segment.
By Application :
The application segment is categorized into insecticide and pesticide, pest control, and others. In 2022, the insecticide and pesticide segment accounted for the highest market share in the overall bifenthrin market. It is a potent insecticide which extensively utilized in pesticides and insecticides for agricultural and residual purposes as well. Advantages associated with this compound such as controlling og broad spectrum of insects and pests, suitability for several crops, and long-lasting residual activity make it ideal for the application of insecticides and pesticides. Owing to this, new insecticides containing this compound are being launched which is significantly fueling the segment growth.
For instance,
- In November 2023, FMC announced the launch of a new insecticide/fungicide premix crop protection product, Ethos Elite LFR insecticide/fungicide, for the U.S. market in 2024. As a result, the new product launches are driving the segment growth.
Moreover, the pest control segment is expected to hold the fastest CAGR over the forecast period. The rising nuances and diseases caused by pests and insects are expected to propel the requirement for this compound in pest control. It is effective against various pests like ants, aphids, worms, moths, termites, and more. Hence, it is commonly used in orchards, nurseries, homes, and crops like corn, hops, and raspberries to save them from pests. Thus, the aforementioned factors are propelling the bifenthrin market trends.
By End User :
The end user segment is categorized into agricultural, residential, commercial, and industrial. In 2022, the agricultural segment accounted for the highest market share in the overall bifenthrin market. The compound plays a pivotal role in agriculture to protect crops from a vast array of insect pests. Its effectiveness, versatility and long-lasting activity make it a suitable choice for farmers. Bifenthrin insecticides effectively control numerous insects that threaten various crops. Prominent targets of this compound include flies, beetles, aphids, thrips and mites among others. Hence, it is registered for use on a wide range of crops such as corn, cotton, fruits and vegetables, nuts, and ornamentals. Additionally, the growing trade of pesticides is fuelling the segment growth.
For instance,
- According to the report published by the Food and Agriculture Organization of the United Nations in 2022, In 2020, there was a 30% increase in total pesticide traded quantities, which increased from 4.0 to 8.7 million tonnes from 2019 to 2020.
Moreover, the residential segment is expected to hold the fastest CAGR over the forecast period. In residential settings the compound is used in insecticides and pesticides which are utilized in pest control. The need for pest control in residential settings is crucial for maintaining a safe and healthy living environment. Unwanted pests like ants, cockroaches, mosquitoes, rodents, termites, bedbugs, and spiders can not only cause structural damage but also pose health risks to residents. Implementing effective pest control strategies is essential to prevent infestations and ensure well-being. As per the analysis, the utilization of these insecticides aligns with this requirement as the compound is classified as broad-range insecticide further enhancing its use residential settings.
By Region :
The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
In 2022, North America accounted for the highest market share at 34.02% valued at USD 339.48 Million in 2022 and USD 369.33 Million in 2023, it is expected to reach USD 794.75 Million in 2031. In North America, the U.S. accounted for a major market share of 62.50% in the year 2022. The bifenthrin market across the North America region is experiencing significant growth owing to the region's robust economic development, well-established pesticide industry, and high adoption rate of advanced agricultural practices across the region. Additionally, North America boasts the presence of large agricultural land is flourishing the agriculture sector of the region.
For instance,
- According to the data published by the US Department of Agriculture in December 2022, agriculture, food, and related industries contributed USD 1.264 trillion to U.S. GDP in 2021, which accounts for a 5.4 % share of total GDP.
Furthermore, based on the bifenthrin market analysis, the Asia Pacific region is expected to witness significant growth over the forecast period, growing at a CAGR of 10.2% during 2023-2031. Based on the analysis, the growing population in the region is raising the demand for food security across the region which is expected to increase the demand for bifenthrin-based pesticides and insecticides. All these above-mentioned factors are collectively driving the demand for this compound from the agriculture industry in the Asia Pacific region and creating lucrative bifenthrin market opportunities and trends in the Asia Pacific region.
Top Key Players & Market Share Insights :
The global bifenthrin industry is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the bifenthrin market through their extensive product portfolios and distribution networks. The bifenthrin market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their bifenthrin market share through mergers, acquisitions, and partnerships. The key players in the bifenthrin market include-
- FMC Corporation
- LGC Limited
- Albaugh LLC.
- bharatgroup.co.in.
- BASF SE
- Syngenta
- Bayer AG
- ADAMA
Recent Industry Developments :
- In November 2023, FMC announced the launch of a new insecticide/fungicide premix crop protection product, Ethos Elite LFR insecticide/fungicide, for the U.S. market in 2024.
- In August 2023, Albaugh announced the launch of a soybean insecticide containing bifenthrin namely ‘Afiado' in Brazil. This new solution works in controlling the soybean stinkbug, which is considered a difficult pest to control throughout the harvest.
Key Questions Answered in the Report
What was the market size of the bifenthrin market in 2022? +
In 2022, the market size of bifenthrin was USD 997.88 million.
What will be the potential market valuation for the bifenthrin industry by 2031? +
In 2031, the market size of bifenthrin will be expected to reach USD 2,178.59 million.
What are the key factors driving the growth of the bifenthrin market? +
Rising incidence of infectious as well as viral diseases across the globe is fueling market growth at the global level.
What is the dominant segment in the bifenthrin market for the formulation? +
In 2022, the liquid segment accounted for the highest market share of 62.45% in the overall bifenthrin market.
Based on current market trends and future predictions, which geographical region is the dominating region in the Bifenthrin market? +
North America accounted for the highest market share in the overall market.