Carbamate Insecticides Market size is estimated to reach $3.5 Billion by 2030, growing at a CAGR of 3.1% during the forecast period 2024-2030. Carbamate Insecticides Market plays an important role in the growing Agriculture sector. Presently various programs have been started by the government to educate the people regarding the use of insecticides due to the rising insect attacks. These steps have enhanced the crops quantity as well as quality.
The rising count of awareness programs by governments to eliminate the effect of insect attacks is set to drive the Carbamate Insecticides Market. As per the World Bank Organization, one of the most effective strategies to eliminate extreme poverty, increase shared prosperity, and feed the projected 9.7 billion people by 2050 is agricultural development by utilizing carbamate insecticides for the control of insects. This represents the Carbamate Insecticides Industry Outlook.
COVID-19 / Ukraine Crisis - Impact Analysis:?
- Investigations pertaining to the impact of the COVID-19 pandemic on Carbamate Insecticides have concluded noteworthy outcomes. During the initial phases of the COVID-19 lockdown, there was a significant decline in the market but soon the market operations resumed as it is very important for agriculture without which we cannot survive. This demand prevented the insecticides market from getting much affected.?
- Russia-Ukraine war has indeed affected global agriculture as Ukraine is the leading producer of grains. But due to the disruption of the supply chain, it was unable to export its products which has led to a significant rise in the prices of food grains across the globe.?
- Dominance of the APAC RegionGeographically, APAC (Predictive Carbamate Insecticides Market) held the largest share with 40.7% of the overall market in 2023 and it is poised to dominate the market over the period 2024-2030. This is owing to burgeoning awareness regarding the crop cultivation methods to get a good yield in quantity as well as quality in the APAC region.
- Agriculture Segment holding the largest market shareBased on End-Use Industry, the Agriculture Segment held the largest Carbamate Insecticides Market share in 2023 and it is estimated to grow with the fastest CAGR of 4.3% during the forecast period 2024-2030. This is due to the growth of attacks by insects which has led to a great loss of farmer’s income.
- High consumption of CarbarylBased on Type, the Carbaryl segment is estimated to grow with the fastest CAGR of 4.8% during the forecast period 2024-2030 owing to the significant increase in the use of Carbaryl insecticides among all the types available in this market.
- Increasing Crop Quantity and High-Quality to drive the marketAccording to Food and Agricultural Organisation 2022, globally greater yields and increased cropping intensity are predicted to account for 90% of the increase in crop production, with land expansion accounting for the remaining 10%. Arable land would increase by about 70 million ha as a result of the growth in developing nations.
- Growing Consumer Shift Towards Bioinsecticides is a major ChallengeGiven their negative impacts on both nature and human health, the use of bioinsecticides to control pests and diseases in crops seems to be an even more essential alternative to traditional chemical pesticides. As a consequence of the following reasons are challenging the growth of the carbamate insecticides market.
- The Research and development of new carbamate insecticides based on biological sources is a key opportunityAccording to the National Centre for Biotechnology Information May 20, 2020 the broad trends and approaches for new insecticides are outlined. A brief analysis of the findings on pesticide discovery and global pesticide sales is also included. At least 105 chemical pesticides, including 43 fungicides, 34 insecticides/acaricides, 6 nematicides, 21 herbicides, and 1 herbicide safener, have been introduced in the past ten years.
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Carbamate Insecticides Market. The top 10 companies in the Carbamate Insecticides Market are:
- BASF SE
- FMC Corporation
- Syngenta
- Corteva Agriscience
- Nufarm Limited
- Bayer AG
- Ningbo Sunjoy Cropscience Co., Ltd.
- United Phosphorus Ltd.
- Drexel Chemical Co.
- NACL Industries Ltd.
