Market Trends of asia pacific insecticide Industry
The rise in climate temperatures favors various insect pests like stink bugs to grow, increasing insecticide consumption per hectare
- In Asia-Pacific, Japan exhibits higher per-hectare consumption of insecticide, which witnessed approximately a 7% increase from 2017 to 2022. This rise may be attributed to the substantial growth in the population of insect pests. The Ministry of Agriculture, Forestry, and Fisheries reports that stink bugs, which pose significant threats to agricultural crops, have been increasingly prevalent in recent years. According to experts, the primary factor driving the proliferation of stink bugs and other pests is attributed to global warming. The principal approach to managing infestations of stink bugs and other pests involves the use of chemical insecticides, with the intensified frequency and dosages of the application being the primary factors contributing to the augmented consumption of insecticides per hectare in the country.
- Vietnam is the second country in the region in terms of insecticide usage per hectare. The amount of insecticide used per hectare significantly increased from 750 g in 2017 to 1,200 g in 2022. This rise may be attributed to the adoption of intensive crop production techniques aimed at improving productivity and pest control. Vietnam's tropical climate, characterized by high temperatures, humidity, and frequent rainfall, provides favorable conditions for agriculture but also promotes the rapid proliferation of insect pests. As a result, insecticide consumption per hectare has increased in the country.
- In overall, other countries in Asia-Pacific are also experiencing a YoY increase in insecticide consumption per hectare. Climate changes leading to an increase in the population of insect pests' infestations are primary reasons for this trend.
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Increased demand for insecticides in major crops like sugarcane, cotton, and fruits and vegetables favors the active ingredient price growth
- In addition to climate changes, insect pests present a significant threat to the agriculture sector in the region, causing average yield losses of up to 73% to 100%. To combat these insect pests effectively, farmers are heavily relying on chemical insecticides.
- Cypermethrin holds a dominant position as the most widely used insecticide in the region, known for its synthetic pyrethroid properties that effectively control various insect pests, including Lepidoptera, Coleoptera, Diptera, and Hemiptera. Countries like India, China, and Vietnam predominantly rely on cypermethrin for pest control across various crops. China and Vietnam are the primary importers of cypermethrin. As of 2022, the price of the active ingredient increased to USD 21,037.7 per metric ton, reflecting a significant rise of 21.1% since 2017. This notable price increase was primarily attributed to the escalating demand for cypermethrin in crops such as sugarcane, cotton, and fruits and vegetables.
- Imidacloprid, a neonicotinoid insecticide, finds application as a seed dressing, soil treatment, and foliar treatment in various crops, including cotton, rice, oilseeds, fruits, and vegetables, and plantation crops like tea, coffee, and cardamom. Its primary purpose is to control sucking insect pests. China serves as the major exporter of Imidacloprid, while India and Vietnam are the main importing countries for this insecticide. The price of the active ingredient stood at USD 17,105.7 per metric ton, representing a significant increase of 21.2% compared to 2017.
- Various factors, such as rising demand, import tariffs, and fluctuations in exchange rates, contribute to the fluctuation in the price of the active ingredients.
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