The
global chlorpyrifos market is growing at a healthy pace on account of
the growing demand from commercial, agriculture, and residential
sectors. Chlorpyrifos is also in high demand on account of its use
for controlling insects, pests, termites, fleas, and mosquitoes. It
is used for crops such as cotton, corn, citrus, almond, and fruits
such as peaches, tomatoes, and grapes. Chlorpyrifos is also in demand
from the pet care industries for producing dog shampoos and dog flea
collars. In the industrial sector where large scale adoption of
pesticides is done, chlorpyrifos is used. In the commercial sector,
chlorpyrifos finds its application in play grounds and golf courses
to control insects and mosquitoes. All these factors are slated to
fuel the demand for this organophosphate insecticide, miticide, and
acaricide.
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The
report also enlists the various challenging factors apart from the
discussing the factors that are working in favor for the growth of
the global chlorpyrifos market. Chlorpyrifos acts on the nervous
system of insects, fleas, termites, pests, and mosquitoes. It has
been used over hundred countries and is in use from many decades.
However, as with most pesticides, there are harmful effects of this
pesticide when a person comes in contact to this chemical by means of
touch, inhaled, or consumed. In addition to this, humans can also
suffer from nervous system damage when exposed to a large amount of
chlorpyrifos. This is anticipated to restrict the growth of this
market within the forecast period. Stringent regulatory policies
regarding the use of chlorpyrifos in various industries will hamper
the growth of the market.
Global
Chlorpyrifos market – Overview
Chlorpyrifos
is an organophosphate insecticide, acaricide, and miticide, produced
by white or colorless crystals and used to control insect pests on a
variety of crops such as corn, cotton, wheat and other crops.
Chlorpyrifos is used as a pesticide since 1965 in agricultural as
well as the non-agricultural field. Chlorpyrifos is acting on the
nervous system of insects, pests, fleas, termites and mosquito by
inhibiting acetylcholinesterase, which leads to the demand of the
Chlorpyrifos from the agriculture as well as pet care industry.
Chlorpyrifos has become the largest organophosphorus insecticide as
it has been widely consumed in over 100 countries across the world.
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Global
Chlorpyrifos market – Drivers and Restraints
The
global Chlorpyrifos market is anticipated to register a significant
CAGR over the forecast period due to increasing demand from the
agricultural industry. The use of Chlorpyrifos is widely increased
due to its effective use as a pesticide and insecticide in farming
and animal care sector. The Chlorpyrifos is also used in the
commercial sector, such as golf courses and playgrounds to control
the mosquitos and other insects which also propel the demand of
Chlorpyrifos and drives the growth of the global Chlorpyrifos market.
The increasing use of Chlorpyrifos in animal ectoparasiticides and
new innovations due to research and development activities also boost
the demand of the Chlorpyrifos and drives the global Chlorpyrifos
market.
The
stringent government laws and regulations to use of Chlorpyrifos in
various industries such as the Emergency Planning and Community
Right-to-Know Act (EPCRA), Endangered Species Act (ESA), the
Comprehensive Environmental Response, Compensation, and Liability Act
(CERCLA), Cosmetic Act (FFDCA) and Clean Water Act (CWA) may restrain
the growth of the global Chlorpyrifos market. Chlorpyrifos can cause
cholinesterase inhibition in human at high enough doses which can
overstimulate the nervous system and causes nausea, dizziness and
respiratory paralysis, which may also hamper the demand of the
Chlorpyrifos as pesticides and restrain the global Chlorpyrifos
market.
Global
Chlorpyrifos market – Region Wise Outlook
The
global Chlorpyrifos market segmented into the seven regions: North
America, Latin America, Western Europe, and Eastern Europe, Asia
Pacific Excluding Japan (APEJ), Japan and Middle East and Africa
(MEA). The APEJ is dominating the global Chlorpyrifos market by
contributing the leading shares in terms of revenue and volume due to
the high demand of Chlorpyrifos from the agricultural industry. The
North America and Western Europe are also contributing the
significant shares to the global Chlorpyrifos market, followed by
APEJ in terms of revenue. The Latin America and Japan are expected to
register the moderate shares to the global Chlorpyrifos market over
the forecast period as its wide applications in commercial and
residential sectors. The MEA and Eastern Europe are anticipated to
grow at a healthy growth rate over the forecast period due to the
lucrative market of Chlorpyrifos in the region. Overall, the global
Chlorpyrifos market is projected to grow at a significant growth rate
over the forecast period 2016 to 2026.
Global
Chlorpyrifos market – Key Players
The
key players of the global Chlorpyrifos market are as follows:
- Dow AgroSciences LLC
- Dow Chemical Co.
- Gharda Chemicals Ltd.
- Cheminova A/S
- Nanjing Red Sun Group
- Hubei Xiantao Xianlong Chemical Industry Co., Ltd.
- Shandong Tiancheng Biological Technology Co., Ltd.
- Zhejiang XinNong Chemical Co., Ltd.
- Nantong Jinnuo Chemical Co., Ltd.
- Jiangsu Baoling Chemical Co., Ltd.
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