Thiacloprid Market - Forecast(2023 - 2028)

Thiacloprid Market Overview

The Thiacloprid Market size is forecast to reach US$286.5 million by 2027, after growing at a CAGR of 4.5% during the forecast period 2022-2027. Thiacloprid is an insecticide that belongs to the neonicotinoid class. It is primarily used on agricultural crops to control various insects, such as aphids, whiteflies, weevils, beetles, jassids, plant hoppers, and other insects. It controls such insects by disrupting the insect's nervous system through stimulation of nicotinic acetylcholine receptors. According to the United States Department of Agriculture (USDA), global grains production reached 1,498.9 million metric tons in 2021, an increase of 4.5% in comparison to 1,434 million metric tons in 2020. An increase in agricultural production along with the surging consumer preference for the installation of gardens and lawns in residential and commercial buildings acts as the major driver for the market. On the other hand, health hazards associated with the use of Thiacloprid may confine the growth of the market.

COVID-19 Impact

There is no doubt that the COVID-19 lockdown has significantly reduced production activities as a result of the country-wise shutdown of manufacturing sites, shortage of labor, and the decline of the supply and demand chain all over the world, thus, affecting the market. Studies show that the outbreak of COVID-19 sharply declined the production of raw materials in 2020 due to a lack of operations across multiple countries around the world. However, a steady recovery in agricultural production has been witnessed across the world since 2021. Thiacloprid is an insecticide that is primarily used on agricultural crops to control various insects, such as aphids, whiteflies, weevils, and more. According to the Food and Agriculture Organization (FAO), the global agricultural production including wheat and coarse grains is expected to increase by 9% from 2021 to 2030. In this way, a steady increase in production activities from the agricultural sector is expected to increase the demand for Thiacloprid to control various pests from destroying the crops. This indicates a steady recovery of the market in the upcoming years.

Report Coverage

The report: “Thiacloprid Market Report– Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Thiacloprid Industry.

By Formulation: Granular, Liquid, Others.
By Pest Type: Aphids, Whiteflies, Weevils, Thrips, Shoot and Fruit Borer, Beetles, Jassids, Plant Hoppers, Others.
By Application: Crops (Grains and Cereals, Pulses and Oilseeds, Dry Beans, Peas, and Lentils, Fruits & Vegetables, Others), Trees, Gardens, and Lawns, Others.
By Geography: North America (USA, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and the Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America), the Rest of the World (the Middle East, and Africa).

Key Takeaways

• Granular formulation held a significant share in the Thiacloprid Market in 2021. Its wide range of characteristics, ease of use, and increased efficiency made it stand out in comparison to other formulations in the market.
• Crops application held the largest share in the Thiacloprid Market in 2021, owing to the increasing demand for thiacloprid for pest control during crop production and for improving the overall crop productivity.
• Asia-Pacific dominated the Thiacloprid Market in 2021, owing to the increasing demand for thiacloprid from the agricultural sector of the region. For instance, according to the United States Department of Agriculture (USDA), the total wheat production in China reached up to 136.9 million metric tons in 2021, an increase of 1.6% as compared to 134.3 million metric tons in 2020.

Figure: Asia-Pacific Thiacloprid Market Revenue, 2021-2027 (US$ Million)

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Thiacloprid Market Segment Analysis – By Formulation

The granular formulation held a significant share in the Thiacloprid Market in 2021, owing to its increasing demand due to the characteristics and benefits it offers over other types of insecticide formulations. For instance, granular insecticide is easy to use in comparison to liquid, and other formulations, and can be directly attached to the soil where the insects are usually located. Moreover, granular insecticide normally lasts longer in outdoor settings as compared to most liquid insecticides that can quickly break down due to rain and sunlight. In addition to this, granular formulations are more economical, safer to use, and more effective as it releases the insecticide directly into the soil, which provides optimum protection of the crops, gardens, and lawns from pests or insects. Hence, all of these benefits are driving its demand over other types of formulations, which in turn, is expected to boost the market growth during the forecast period.

Thiacloprid Market Segment Analysis – By Application

The crops segment held the largest share in the Thiacloprid Market in 2021 and is expected to grow at a CAGR of 4.6% between 2022 and 2027, owing to the increase in demand for crop production across the globe. For instance, in January 2022, the government of Egypt invested around EGP 6.4 billion (US$ 413 million) for the continuation of its agricultural project. The project will focus on the production of crops such as wheat, maize, cotton, and oil. In September 2021, the Spanish government invested around EUR 13 million (US$ 15.4 million) in order to fund the country’s agricultural projects that aim at increasing the country’s food crop production capacity. Furthermore, recent insights from the US Department of Agriculture state that the global food crop production reached 2,791.5 million metric tons in 2021, and 2,719.7 million metric tons in 2020, representing an incline of 2.57% in 2021 as compared to 2020.

In this way, an increase in crop production across the world is expected to increase the demand for thiacloprid to control various pests or insects, such as aphids, whiteflies, and weevils that can cause significant damage to such food crops. This is expected to accelerate the growth of the market during the forecast period.

Thiacloprid Market Segment Analysis – By Geography

Asia-Pacific held the largest share in the Thiacloprid Market in 2021 up to 31%. The consumption of thiacloprid is particularly high in this region due to its increasing demand from the agricultural sector. For instance, according to the US Department of Agriculture, in 2020 the total food crop production in the Asia-Pacific region reached 1026.7 million metric tons in 2021, an increase of 2.7% in comparison to 998.8 million metric tons in 2020. Furthermore, the total oilseed crop production in the Asia-Pacific region reached 127.6 million metric tons in 2020, and 131 million metric tons in 2021, representing a growth of 2.6% in 2021.

Thus, such surging production of food crops in the Asia-Pacific region is expected to drive the demand for thiacloprid for pest control during crop production and for improving the overall crop productivity. This is expected to boost the growth of the market in the upcoming years.

Thiacloprid Market Drivers

An increase in agricultural production is most likely to increase demand for the product

Thiacloprid is an insecticide that is primarily used on agricultural crops to control various insects, such as aphids, whiteflies, weevils, and more from destroying the crops and for improving the overall productivity. For instance, according to the Department of Agriculture & Farmers Welfare, the total vegetable production in India reached 191.8 million metric tons in 2019, an increase of 4.7% in comparison to 2018. Likewise, according to the Food and Agriculture Organization, China produced around 588.26 million metric tons of vegetables in 2019. Furthermore, according to the European Union, the total production of fruits in the European region reached around 36.8 million metric tons in 2020, among which apples and pears production were the highest at 14.3 million metric tons, equivalent to 38.9% of the total fruit production in the region. Hence, such surging agricultural production across multiple regions is expected to increase the demand for thiacloprid, thus, resulting in the growth of the market in the upcoming years.

Surging consumer preference toward the installation of gardens and lawns in residential and commercial buildings is most likely to increase demand for the product

The inclusion of gardens and lawns in residential and commercial buildings offers pleasing aesthetics and aromas along with a range of other benefits. The presence of gardens and lawns in a building can act as a natural coolant, and air cleaners, as they play a significant role in absorbing carbon dioxide, dust, and other pollutants while producing oxygen and improving the overall air quality. Moreover, lawns and plants can considerably reduce noise pollution and are capable of reducing noise levels by 20% to 30%. Furthermore, gardens and lawns help in preventing erosion and protecting the water quality by absorbing the excess runoff during rainfall. Owing to these benefits, consumer preference towards the installation of gardens and lawns in residential and commercial buildings has been increasing in recent years, which in turn, is expected to drive the demand for thiacloprid in order to protect such gardens and lawns from damage caused by unwanted pests or insects. This is expected to propel market growth in the upcoming years.

Thiacloprid Market Challenges

Health hazards associated with the use of thiacloprid can cause an obstruction to the market growth

Thiacloprid is considered hazardous under EU Regulation (EC) No 1272/2008. It is known to cause acute toxicity in case of inhalation or ingestion. Prolonged exposure to thiacloprid may cause dizziness, and vomiting, along with specific organ toxicity in severe cases. Moreover, it is considered to be carcinogenic in nature and may cause cancer. Thiacloprid may have potential cytotoxic and genotoxic effects on peripheral blood lymphocytes in humans, as it is capable of reducing mitotic, proliferation, and nuclear division indexes. Furthermore, it is considered to be hazardous to the aquatic environment as well and can cause long-term effects on aquatic life. In 2020, the European Union banned the insecticide thiacloprid, owing to its adverse effects on human health and the environment. Thus, such health hazards associated with the use of thiacloprid may confine the growth of the market.

Global Thiacloprid Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Thiacloprid Market. Thiacloprid top 10 companies are:

1. Bayer CropScience
2. Shanghai Bosman Industrial
3. Rudong Zhongyi Chemical
4. Nantong Reform Chemical
5. Nanjing Gaozheng Agricultural Chemical
6. Jiangsu Flag Chemical Industry
7. Limin Chemical
8. Suzhou ATL Chemical
9. Hailir Pesticides and Chemicals
10. Anhui Huaxing Chemical

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