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Insect Pest Control Market Growth forecast to 2030 Focusing on Top Key Players

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Gopika Ladda
Insect Pest Control Market Growth forecast to 2030 Focusing on Top Key Players

FMC Corporation, Bayer AG, Syngenta, China National Agrochemical Company Limited, BASF SE, Ecolab, Rollins, Inc, Curtis Gilmour, ADAMA Agricultural Solutions, Sumitomo Chemical Company Limited, Renkotil Initial plc, and others.


Insect Pest Control Market Scope -

The global insect pest control market could expect to touch the valuation of USD 17,900.8 million by 2030, says Market Research Future (MRFR). The market could achieve a CAGR of 5.19% during the forecast period (2021-2030). Growing insect population due to changing climatic conditions and soaring awareness regarding insect-related diseases are considered the primary growth stimulants of the insect pest control market.


Migration of rural population to urban areas also tend to carry diseases and risk of infections. This has further catalyzed the growth of the insect pest control market across the globe. Rapid industrialization and growth in sectors like banking, information technology, insurance, and finance will create high demand for commercial spaces. The need to maintain hygiene in these spaces will encourage the market growth in the foreseeable future. Changing climatic conditions offer breeding grounds for insects. On the contrary, insect pest contains chemicals that are harmful to other forms of life and are also ineffective when used excessively as pests build up resistance. Such factors are likely to restrict the market in the long run.


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Market Boosters and Top Barriers

Inspect pest control is generally used to kill or prevent attacks of pests like insects, bed bugs and rodents. In addition to damaging the crops, these pests also leave a negative impact on human life through several diseases. A variety of professional pest control treatments for controlling or destroying the pest population includes biological, mechanical and chemical. Inspection is the foremost process undertaken while conducting any type of pest control service.

The market for insect pest control gets a significant boost from the increasing demand in agriculture-based countries like India, France, Brazil, Australia, China, Mexico, Russia, among others. In addition to that, the constantly changing climate across the globe leads to an upsurge in demand for pest control products as well as services. The sole reason behind this is the increasing temperature which is ideal for the pest population, leading to its expansion.

The downside could be the high toxic levels in insect pesticides that can be harmful to humans, which slows down the market growth rate. Nevertheless, the rollout of strict policies that ensure the safety of workers in food safety and food processing organizations could have a strong impact on the future growth of the market.

Rising demand for epoxy resins in end-use industries is likely to boost the market growth. The automotive sector, for instance, requires these prepolymers for producing coatings which can resist corrosion and extreme temperatures. But strict environment policies regarding the production of the chemical coupled with production of bio-based epichlorohydrin as an alternative can pose a challenge to the Insect Pest Control Market. Furthermore, according to the study, COVID-19 has wreaked havoc on the Insect Pest Control Market by obtaining more customer demands. More main drivers are being employed in the humid acid sector in order to help reaching all of the countries' geographical regions. Owing to the involvement of multiple players in the sector, the competition between companies in the market is expected to be moderate. Competition is awaited in terms of pricing and the availability of innovative and successful production methods.


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Segment Study of Insect Pest Control Market :-


By insect type, the insect pest control market is segmented into flies, ants, mosquitoes, termites, bedbugs, cockroaches, and others. Of these, the termite's segment acquired a share of 30% in 2017 and is likely to attain a CAGR of 6.35%, garnering USD 5,808 million by the end of 2023.

By control method, the insect pest control market is segmented into physical, chemical, and biological. Of these, the chemical control method registered a share of 56% in 2017. The segment is predicted to generate by the end of 2023, mainly due to the popularity of chemical pest control methods among the professionals.

By application, the market is segmented into residential, commercial, livestock farms, and industrial. Of these, the commercial application is predicted to attain a CAGR of 5.61%, garnering USD 4,420 million by the end of 2030.


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Insect Pest Control Market Market - Geographical Analysis :-


Geographically, the insect pest control market is studied under Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.

Considering the global scenario, insect pest control market in North America commands the largest share and will surpass a valuation of USD 8,568.7 million by the end of 2023. The expanding hospitality and food industries in the region will influence the market’s growth. The need for pest management in restaurants, hotels, and food processing sectors is likely to encourage the market in the region.

New regulations focusing on hygiene and safety has contributed to the immense growth of the Asia Pacific region. The impacts of climatic change and negligence towards sanitary conditions, especially in urban slums has led to disease outbreaks. Improvements made in policies and legislation for the requirement of pest control has benefitted the service providers of pest control to a large extent. The region is likely to surpass a valuation of USD 3,754.5 million, attaining a CAGR of 6.68% owing to the surging demand for pest control in pharmaceuticals, food services, and tourism sectors. Due to advancing technology and rapid urbanization, China is considered a leading country for insect pest control.


Industry News:

January 2019: Control Solutions Inc. (US) had acquired Bondie Products Inc. (US). The acquisition will aid CSI expand its portfolio of pest control products as well as its customer base in the market.


August 2019: Farmers in the Malwa belt of Punjab are utilizing automatic boom sprayer machines to spray pesticides specifically on cotton crops and is vulnerable to insects which attack during the monsoon. These machines save time, labor, and cost of operation.


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About Market Research Future:-

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.


MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.


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