Carbamate Insecticides Market By Type (Aldicarb, Oxamyl, Carbaryl, Methiocarb, Carbofuran, Methomyl, Thiodicarb & Others), By Crop Type (Cash Crop (Rice, Cotton, Oilseeds, Soybean & Others), Food Crops (Wheat, Rice, Maize & Others), Horticulture Crops (Fruits, Orange, Apples, Grapes, Banana & Others), Vegetables (Tomato, Potato, Onions, Carrot & Others), Plantation Crops (Tea, Coffee & Others) & Others), By Form (Baits, Sprays & Strips), By End-use Industry (Agriculture, Forests, Building & Construction (Residential, Commercial, Industrial & Infrastructural) & Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2022-2027
Carbamate Insecticides Market Overview
The Carbamate Insecticides market 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. Rapid urbanization and infrastructural developments in emerging economies are anticipated to drive the demand for carbamate insecticides in residential, commercial and industrial sectors. Moreover, the increasing requirement for carbamate insecticides in the agriculture industry is anticipated to upsurge the demand for the carbamate insecticides industry in the forecast period. The global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in demand for plantation crops, floriculture and others, all across the world, which had a significant impact on the growth of the Carbamate Insecticides market size.
Carbamate Insecticides Market Report Coverage
“Carbamate Insecticides Market Report –
Forecast (2022 - 2027)” by Industry ARC, covers an in-depth analysis of the
following segments in the Carbamate Insecticides industry.
- 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$11.9 trillion, with an increase of about 4.2% from 2019.
- Rapidly rising demand for Carbamate Insecticides to meet the growing demand for high-quality and quantity of crops has driven the growth of the Carbamate Insecticides market.
- The increasing demand for Carbamate Insecticides in the agriculture sector, due to their usage to protect the crops from infectious diseases, has been a critical factor driving the growth of the market in the upcoming years.
- However, increasing health hazards associated with the rising usage of carbamate insecticides can hinder the growth of the Carbamate Insecticides market.
Figure: Asia-Pacific Carbamate Insecticides Market Revenue, 2021-2027 (US$ Million)
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Carbamate Insecticides Market Segment Analysis – by Crop Type
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. Moreover, horticulture crops are more susceptible to insects such as fruit flies, codling moths and peach-tree borers. The growing popularity of organic crop protection products has increased the demand for insecticides among farmers. The emerging trend of consuming organic and clean-label foods is expected to boost the utilization of horticulture crops. According to the Indian Brand Equity Foundation (IBEF), the Indian Organic Sector is forecasted to reach Rs75,000 crore (US$10.73 billion) by 2025 from Rs2,700 crore (US$386.32 million) in 2015. Thus, with the growing demand for horticulture crops, the market growth for Carbamate Insecticides would further rise over the forecast period.
Carbamate Insecticides Market Segment Analysis – by End-use Industry
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. Some carbamates also control mosquitoes. According to the U.S Department of Commerce, the privately-owned housing units authorized by building permits in March 2022 were around 1,873,000, which was 0.4% above February 2022 of 1,865,000 units and was 6.7% above March 2021 of around 1,755,000 units. Moreover, according to Statistics of Japan, the number of construction contract orders went from 60,046,960 units in 2020 to 63,610,223 in 2021 and witnessed a growth in 2021 (Jan-July) compared to 2020(Jan-July). Thus, the growing building and construction industry would require more Carbamate Insecticides for controlling insects, which would drive the demand for carbamate insecticides market growth during the forecast period.
Carbamate Insecticides Market Segment Analysis – by Geography
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. This is due to the growth in the building & construction industry throughout the country. According to International Trade Administration (ITA), China is the world’s largest construction market and is forecasted to grow at an annual average growth of 8.6% between 2022 and 2030. Also, according to the Australian Government, the building and construction sector remains healthy in Singapore, with strong government spending on public infrastructure, of about S$2 billion (US$1.43 billion) in contracts being awarded each month. Moreover, according to Invest India, by 2025, the building and construction industry is estimated to reach US$1.4 Trillion. Such increasing building & construction activities in the APAC countries are anticipated to increase the demand for Carbamate Insecticide products in the forecasted period and are proving to be a market booster for the Carbamate Insecticides market size in this region.
Carbamate Insecticides Market Drivers
Increasing High-Quality and Quantity of Crops:
Increasing population and income have led to rising demand for high quantity and quality crops. For instance, the world’s population is estimated to increase by 2 billion people in the next 30 years, from 7.7 billion in 2021 to 9.7 billion in 2050, according to the United Nations. Globally, farmers are increasing crop production, either by increasing the agricultural land to grow crops or by improving the production of crops on existing agricultural lands, by using fertilizer, insecticides, irrigation and adopting other new products. The rising demand for freshly produced, high-quality crops has increased the demand for carbamate insecticides such as methiocarb, carbamyl and carbofuran for crop protection. The yield of high-quality crops is increasing. According to the Indian Brand Equity Foundation, in September 2021, the Union Ministry of Agriculture and Farmers’ Welfare signed five MoUs with Ninjacart, Jio Platforms Limited, CISCO, NCDEX e-markets Limited and ITC Limited to support farmers in decision-making on the kind of crops to grow, variety of seeds to use and best practices to adopt to maximize the yield. Also, according to the United States Department of Agriculture (USDA), in 2022, Russian wheat production for the marketing year is forecast at 81.0 million metric tons (MMT), which is 1 percent more than last month and 8 percent more than last year. Moreover, in Brazil, the total corn production for marketing year (MY) 2021/22 was116.0 million metric tons (MMT), which was larger than the previous year’s crop (MY 2020/21) by 29.0mmt (33 percent). Thus, the growing demand for high-quality and quantity of crops would drive the growth of the Carbamate Insecticides industry.
Growing Agriculture Sector:
The demand for Carbamate Insecticides to protect crops from infectious diseases caused by insects and pests such as bacterial panicle blight and bacterial leaf scorch is expected to drive the Carbamate Insecticides market growth. The increasing population with decreasing arable land generates the necessity for using insecticides to prevent damage to food crops. In September 2021, the Spanish government allocated EUR13 million (US$15.4 million) to fund the country’s agricultural projects. The projects aim at increasing the country’s food production capacity while contributing to rural development and regional balance. Also, according to the Ministry for Development of the North-East Region, in 2019, the Government of Japan invested 205.784 billion Yen (USD1.50 billion) in several ongoing projects for Sustainable Agriculture & Irrigation as well as new projects in different states of India's North-Eastern region. Moreover, increasing government initiatives to strengthen the agrochemicals sector is anticipated to surge the demand for carbamate insecticides in the agriculture sector. For instance, according to the Indian Brand Equity Foundation, in 2021-2022, the government planned to introduce production-linked incentives (PLI) scheme to promote domestic manufacturing of agrochemicals such as insecticides and fertilizers, with an allocation of US$32.2 million to the department of chemicals and petrochemicals. Thus, the Carbamate Insecticides market is forecasted to rise as such materials are needed to protect the farm yield, to control the damage to farm output and to better utilize the increased investments by the government in the agriculture sector.
Carbamate Insecticides Market Challenge:
Rising Toxicity and Side-effects of Carbamate Insecticides:
The toxicity of Carbamate Insecticides to humans and animals is a major concern for the insecticide industries. It is listed under the toxicity category for dermal and eye irritation allergies. Additionally, inhalation of spray mist or dust from these insecticides may cause throat irritation, coughing and sneezing. As a result, carbamate insecticides in buildings to control pest infestation and in agricultural practices are highly regulated in Europe and the U.S. Moreover, the world's population is expected to grow to almost 10 billion by 2050. Therefore, in order to protect the plantations and crops' yield, the use of carbamate insecticides has increased. For instance, according to Food and Agriculture Organization (FAO), pesticide use went up by 36% between 2000 and 2019. Thus, increasing health hazards with the rising usage of Carbamate Insecticides would create hurdles for the market's growth.
Carbamate Insecticides Market Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies players adopt in the Carbamate Insecticides markets. The top 10 companies in the carbamate insecticides market are:
- Lebanon Seaboard
- Drexel Chemical
- Sumimoto Chemical
- The Dow Chemical Company
- FMC Corporation
In November 2020, Syngenta, a global leader in crop protection, introduced Spiropidion, a novel insect control technology. This product aids farmers in protecting crops from pests such as aphids and scales, while also being safe for beneficial insects such as bees.
In March 2021, FMC Corporation announced a strategic partnership with UPL Ltd. to expand their production capabilities and expand the market for agricultural products like Rynaxypr. These commercial agreements allow the company to achieve long-term agricultural growth while also providing new product offerings to its customers.
Report Code: CMR 0421
Report Code: CMR 1334
Report Code: CMR 10349
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