17th May 2019 - The Global Fipronil
Market is expected to display higher growth rate over the next five
years. Rapid surge in the market is credited to increasing demand from
horticulture sector. Fipronil are used to prevent growth of ants, termites,
moles, cockroaches and other insects responsible for crop damage. Use of
fipronil as an insecticide is expected to drive the growth of the market over
the forecast period. Fipronil belongs to phenylpyrazole chemical family.
Globally, market is predicted to generate massive revenue over next five years,
providing numerous opportunities for industry participants to invest in
research and development of fipronil market.
Growing
concerns regarding insect-borne diseases is expected to favor market growth
over the next seven years. In addition, increasing focus towards disease
prevention over diseases cure and soaring adoption of commercial pest
management services are propelling market demand for fipronil–based insecticide.
Rising agriculture yield to meet demands of ever-growing population is a key
industry trend associated with fipronil market. Rapid urbanization and
industrialization has led to reduction in farmland, thus further driving the
market for fipronil as an insecticide product.
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However,
rising number of incidences related to environment hazards due to excessive use
of fipronil insecticide is hampering market growth to a certain extent. Ban on
fipronil-based insecticide by European Commission due to the death of a large
number of bees that were exposed to fipronil-based insecticides is questions
the market growth. Yet, considering potential market growth, numerous
organizations are significantly investing to improve quality of product by
large number of ventures and partnerships in the couple of years, fueling
growth of the fipronil market over the forecast period.
The
market is broadly categorized into three major segments based on the product
type such as fipronil particles, fipronil gel and fipronil liquid. Fipronil
particles segment is growing rapidly in the market with substantial revenue
generation in the last few years. Growing popularity of fipronil particles
segment is attributed to the rising demand from chemical as well as agriculture
industry.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in implementation of latest technologies in the agriculture sector,
favorable government initiative & policies, higher approval rate, surge in
number of research & development activities in the region and existence of
well-established infrastructure.
Asia-Pacific region is estimated
to hold a major share in the fipronil market with massive growth in forecast
period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with increasing awareness among farmers, growing number of
government initiatives such as tax exemption, increasing disposable income,
easy availability, and significant investment by leading industry players
considering potential growth opportunities in the region. The key players in
the fipronil market are Bayer CropScience, Inc., BASF AG, Shandong Audis
Biotechnology Co., Ltd., Syngenta Corp., Merial Ltd., and Jiangsu Rotam
Chemistry.
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