The global Lambda Cyhalothrin market generated revenue of around USD 1,250 million in 2020 and predicted to grow at a CAGR of over 14.1% in the forthcoming years from 2015 to 2027 to reach around USD 3,800 million in 2027.
Lambda cyhalothrin can be described as a type of pyrethroid insecticide with a wide range of uses and repellent properties. These chemicals are chemical replacements for pyrethrins. They are natural compounds found in Chrysanthemum flowers. Lambda cyhalothrin, considered most effective pyrethroid chemicals, is widely used for pest and insect control in agricultural products such as cotton, fruit trees, and vegetables. It has a wide variety of applications due to its high efficiency and low toxicity.
The rapidly growing population leading to increase the food demand
Every day, the world’s population grows exponentially, and people contribute to global food demand. Farmers are looking for crop security as a major strategy to meet global food demand. Insecticides on crops are a well-established technology, and developing countries have seen a surge in demand for pyrethroids to boost global food production and prevent crop deterioration.
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According to the UN Population Division, Asia will have the fastest population growth by 2050, accounting for 60 percent or more of the global population (particularly in India, China, and South-East Asia). Crop protection chemicals in large quantities are expected to be required to increase food production to meet the region’s growing population.
Highly Effective Insect Control
Pyrethroid insecticides have advanced to become one of the most important groups of pesticide chemicals. They also claim that systemic changes can boost their potency tenfold while lowering seasonal pest control costs by the same amount. Pyrethroids have a great cost-benefit ratio when it comes to agricultural pest insect control because they need fewer applications.
Pyrethroids are not modern or special approaches to insect control; rather, they are stringent substitutes for existing compounds. However, in order to cope with the growing number of synthetic alternatives, the pyrethrum industry has become more structured and competitive in both production and distribution in various countries. Stable pyrethroids are increasingly being used to replace DDT and other chlorinated hydrocarbons, despite the fact that establishing a proven safety record takes time.
Global Lambda Cyhalothrin Market by Type Insights
Capsule Suspensions, Suspension Concentrate, Emulsifiable Concentrate, and Liquid are some of the major types of Lambda Cyhalothrin. Emulsifiable Concentrate segment accounted for the largest share in 2020 of the Lambda Cyhalothrin market.
Global Lambda Cyhalothrin Market Competitive Landscape
Most prominent players in the global Lambda Cyhalothrin market include Biostadt India Limited, Marrone Bio Innovations, BASF SE, Jiangsu Xinnuo Chemicals Co Ltd, Agromonti Company, Nufarm Ltd., Fengshan Group, Hamlung Chemicals Co Ltd, and Jiangsu Huangma Agrochemicals Co Ltd. The report covers very detailed profiles of these key players.
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