Permethrin Market

Permethrin Market Size, Share, Growth (2023-2028)

Permethrin Market Size was worth US$ 201 Billion in 2023 and is anticipated to reach a valuation of US$ 340 billion by 2028 with a CAGR of 6.6 %.

Permethrin Market Overview

Permethrin is a chemical extracted from the chrysanthemum flower used as an insecticide. It is a member of the pyrethroid family. It is used in mosquito control programs to help kill insects and their eggs. They are also used to keep crops, livestock, and pets healthy. It is experiencing significant growth due to the increased application in crops such as cotton and wheat. It also controls mosquito-borne diseases such as dengue and malaria in water-based areas. It is also used to disinfect structures, buildings, and aircraft. It is marketed under various brands, including elimite, Actini, clear, DAT, and others. It is primarily used to treat scabies and lice. When used excessively, it can cause skin irritation and rashes. It is also used as a broad-spectrum antibiotic, and its applications in the pharmaceutical industry are expanding.

REPORT COVERAGE:

Permethrin Market Drivers

Permethrin is an excellent insect repellent, and the increasing demand for insecticides in the agricultural sector to manage crops is the primary market driver for permethrin. It is also increasing use in the pharmaceutical industry as an ointment and lotion for killing mosquitos, head lice, and other pests. Its demand is expected to rise in the future as health awareness grows. Permethrin is also used as a cleaning and disinfectant agent, and it is found in cleaning products, which has increased its demand. The increasing Population in the Asia – Pacific countries is becoming a favorable environment for treating insects and head lice. Many governments also focus on strengthening their healthcare system and supporting clinical trials related to permethrin. The demand for the aviation industry is also increasing the demand for permitting because it Is used as a disinfectant in flights and should promote market growth. 

Permethrin Market Restraints:

Permethrin is a very useful insecticide; however, specific environmental organizations restrict its use because it is highly toxic and easily absorbed by the sand, where it is harmful to aquatic organisms, bees, and other beneficial organisms. It kills both harmful and beneficial organisms. This factor has the potential to limit its growth significantly. It also has numerous side effects like Nausea, skin problems, shortness of breath, and headache, and can be fatal. It is only available with a prescription in the medical sector because high doses can be lethal and easily abused. The market is also strictly regulated to limit the sale of permethrin, which may limit future market growth. Many countries also restrict its use for crops.

Permethrin Market Opportunities:

The market offers Plenty of opportunity for growth to the critical players in the market. Permethrin is a very flexible product, and a considerable investment in research and development activities can yield higher returns. It has a wide variety of applications in the pharmaceutical sector. However, it is strictly regulated. Therefore, the manufacturers need to invest in developing new products that use permethrin in lower quantities to develop new products that serve different purposes to attract consumers. It also has a wide variety of applications in the textile and household sector, but these products need to be made safe for personal consumption, which requires a high level of research in this sector. 

Permethrin Market Key Developments:

• Neogen released a new Prozap Fly Die ultra in 2018, primarily used to protect animals against flies, ticks, lice, and mosquitoes. It is an excellent product for livestock breeders and has many beneficial features, such as being sweatproof, long-lasting, and so on.

Permethrin Market Segmentation:

By Form 

• Liquid

• Powder

The liquid segment is expected to dominate the market during the forecast period and hold the largest share because it is the most preferred form of consumption for treating head lice, nits, and scabies. In addition, Permethrin in liquid Form can easily disrupt neurons in pesticides and prevent them from growing further. The powder segment is also rapidly expanding due to its ability to absorb. However, it is not used for industrial purposes because most insecticides are in liquid form; thus, the segment dominates the market.

By Application

• Agricultural

• Pharmaceutical

• Personal Care

• Textile

• Domestic 

The agriculture segment is expected to dominate the market based on the application because it is used as an insecticide for crops to protect them from various types of insects. In addition, it is used to protect food from Tineola and Bisselliella. The pharmaceutical industry is also rapidly expanding due to the increasing use of permethrin in mosquito repellents to prevent mosquito-borne diseases such as malaria and dengue. Permethrin-treated mosquito nets can be used to kill mosquitos. It is a highly effective solution. Demand is also increasing in the textile sector due to a shift in preference toward insect-repellant fabrics, which can increase the demand. 

COVID-19 Impact on the Global Permethrin Market :

The COVID-19 Pandemic had a worldwide impact on a variety of industries. A lockdown was imposed, closing factories and manufacturing facilities, and reducing Permethrin production and the resulting products. Not only was there a lack of supply, but also a lack of demand. Supply chains have been severely disrupted, stifling market growth. However, global economies are improving, and demand is expected to rise during the forecast period. In addition, there has been an increase in health and hygiene awareness, which has increased demand for the product. The pharmaceutical industry also saw an increase in demand, and permethrin is a key chemical in many medicines. During the forecast period, the market is expected to recover strongly.

Permethrin Market Regional Analysis

• North America

• Europe

• Asia-Pacific

• Middle East & Africa

• Latin America

The Asia-Pacific region dominates the market in terms of region. Countries such as Australia, Japan, China, and India are rapidly growing, and the demand for permethrin is rising. These countries are agriculturally based and grow staple crops such as rice, maize, wheat, and pulses. India is one of the world's largest producers of spices and products. Permethrin is widely used to protect crops against insecticides. The market is also rapidly expanding in the European region, owing to an increase in the number of pharmaceutical industries and increased customer health awareness. It is also used in clinical trials to find disease cures. The European market is expected to grow significantly due to demand in Germany, the United Kingdom, France, and Italy.

Permethrin Market Key Players:

1. Bluebell Pharma

2. Kalyani Industries

3. Crop Life science

4. Kangmei Chemical

5. Golden Harvest Chemical

6. Sumitomo Chemical

7. AIMCO Pesticides

8. Tagros

9. Jiangsu Lanfen

10. Heranba

11. Bayer

12. Aestar