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Fipronil market analysis | Coherent Market Insights

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Fipronil market analysis | Coherent Market Insights

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  1. Coherent Market Insight Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker

  2. FIPRONIL MARKET ANALYSIS Fipronil Market, by Form (Powder Formulation and Liquid Formulation), by Application (Agriculture, Turf Products, Seed Treatment, Pet Care Products, Gel Baits, and Liquid Termiticides), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 Fipronil is a broad-spectrum insecticide that is available in the market in powder and liquid formulations. It is used for controlling beetles, ants, mole crickets, rootworms, termites, ticks, weevils, fleas, and other insects. The major application of fipronil includes seed treatment, pet care products, liquid termiticides, and agriculture products.

  3. Fipronil market is expected to witness significant growth over the forecast period, owing to rising applications of fipronil in various end-use industries such as agriculture and pet care industry. However, availability of various less toxic alternatives of fipronil such as silica gel and boric acid is expected to hamper growth of the global fipronil market over the forecast period.

  4. Moreover, increasing usage of fipronil in India crop protection industry is expected to provide various growth opportunities to market players for fipronil market expansion in India. For instance, according to the Food and Agriculture Organization of the United Nations, India ranked second in terms of global agricultural output and accounted for around 8.0% of the global share in 2017. Moreover, low per hectare productivity (3 MT per hectare versus world average of 4 MT), owing to lack of scientific methods of agriculture is expected to drive fipronil market growth over the forecast period. For instance, according to the India Brand Equity Foundation, the India crop protection industry was valued at US$ 4.0 billion in 2014 and it is expected to reach US$ 7.4 billion by the end of 2019, and is expected to exhibit a CAGR of 12.0% during 2015-2019. The expansion of the crop protection industry in India is expected to fuel demand for fipronil and other insecticides over the forecast period.

  5. Fipronil is widely used for crop protection, however, the ban imposed by European Commission on use of fipronil on crops in Europe, in 2017 is expected to hamper demand for fipronil for application in crop protection, which is further expected to hamper market growth. The global fipronil market was valued at US$ 476.2 Mn in 2018, and is expected to exhibit a CAGR of 2.9%, in terms of revenue, over the forecast period (2019-2027), to reach US$ 605.9 Mn by 2027.

  6. Figure 1. Global Fipronil Market Share (%), By Region, 2018

  7. Among regions, Asia Pacific accounted for the largest revenue share of 55.6% in the global fipronil market in 2018. However, Latin America is expected to record fastest growth in terms of revenue and is expected to exhibit a CAGR of 5.0% during the forecast period (2019 to 2027), owing to growth of the agriculture sector in the region. For instance, according to report, ‘OECD?FAO Agricultural Outlook 2019?2028’, published by Organization for Economic Co-operation and Development (OECD) Publishing and Food and Agriculture Organization of the United Nations in 2019, Latin America and Caribbean (LAC) together accounted for 14% of the global crop production and 23% of the world’s exports of agricultural and fisheries commodities in 2018.

  8. Furthermore, according to research article, ‘the dilemma of agricultural pollination in Brazil: Beekeeping growth and insecticide use’, published by Journal of PLoS ONE in 2018, Brazil is a world leader in agricultural production. Therefore, growth of agricultural sector in Latin America is expected to increase demand for efficient crop protection products, which is further expected to boost growth of the fipronil market in the region over the forecast period.

  9. Based on application, seed treatment segment accounted for the largest revenue share accounting for 50.6% in 2018 in the global fipronil market. Seed treatment plays a vital role in protecting seedlings from insect-pests and diseases. Fipronil is used majorly for seed treatment in crops such as chickpea, maize, wheat, soybean, and groundnut. The growth of seed industry worldwide is expected to drive demand for fipronil over the forecast period. For instance, according to the Indian Council of Food and Agriculture report published on Seed Industry Scenario in September 2019, the global seeds market was valued at US$ 59.71 billion in 2018 and is expected to reach US$ 90.37 billion by the end of 2024, exhibiting a CAGR of 7.9% during the forecast period (2019 to 2024).

  10. Figure 2. Global Fipronil Market Share (%), By Application, 2018

  11. Key companies operating in the global fipronil market include BASF SE, Parijat Industries (India) Pvt. Ltd, GSP Crop Science Private Limited, Gharda Chemicals Limited, Insecticides (India) Ltd., Bharat Rasayan Ltd., Himani Industries Limited, FMC Corporation, DhanukaAgritech Ltd., and HPM Chemicals and Fertilizers Limited Major players operating in the fipronil market are focused on adopting various strategic initiatives such as mergers & acquisitions and new product development, in order to expand their product portfolio and global presence. For instance, in May 2018, Insecticides India Limited, launched four new products such as Encounter, Sofia, Aikido, and Hercules in India. These products were developed, in order to get better yields and thereby help the company in gaining a significant market share in India in the near future.

  12. REQUEST SAMPLE DOWNLOAD PDF REQUEST CUSTOMIZATION TALK TO ANALYST REFERENCE https://www.coherentmarketinsights.com/market-insight/fipronil-market-2208

  13. About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: Customized Market Research Services Industry Analysis Services Business Consulting Services Market Intelligence Services Long term Engagement Model Country Specific Analysis

  14. Contact Us: Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

  15. THANK YOU! Kindly follow CMI Social Media Profiles for the latest company updates Facebook LinkedIn Twitter https://www.coherentmarketinsights.com/

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