Global Fipronil Market to Reach US$ 605.9 Mn by 2027 - Coherent Market Insights

SEATTLE, March 17, 2020 /PRNewswire/ -- The global fipronil market was valued at US$ 476.2 Mn in 2018, and is expected to exhibit a CAGR of 2.9% over the forecast period (2019-2027), in terms of revenue.

Key Trends and Analysis of the Global Fipronil Market:

The global fipronil market is expected to witness significant growth over the forecast period, owing to factors such as increasing usage of fipronil in various end-use applications, which is expected to drive growth of the fipronil market over the forecast period (2019-2027).

Fipronil is a broad-spectrum insecticide used in agricultural products, turf products, liquid termite control, and pet care products. It is also used to control termites, beetles, ants, crickets, weevils, and other insects. Increasing concerns associated with diseases transmitted by insects is expected to facilitate demand for commercial pest management services, which is further expected to boost growth of the fipronil market over the forecast period. For instance, according to Coherent Market Insights' analysis, global pest control services market was valued at US$ 16,179.8 Mn in 2017, and is expected to increase to US$ 24,105.7 Mn by 2025, exhibiting a CAGR of 5.1% over the forecast period (2019 to 2027).

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Moreover, fipronil is used by pet owners as a spray-on or spot-on product to protect pets against ticks, ear mites, and fleas. For instance, according to the American Pet Products Association (APPA) - National Pet Owners Survey, over 65% of the U.S. households (around 84.9 million homes) owned a pet in 2018 compared to 56% in 1988. Furthermore, according to same survey, the U.S. pet industry expenditure increased from US$ 72.56 billion in 2018 to US$ 75.38 billion in 2019. Therefore, increasing number of pet owners and growing expenditure on pets are expected to fuel demand for fipronil over the forecast period, which is further expected to drive the market growth over the forecast period.

Fipronil is an insecticide that belongs to the phenylpyrazole chemical family. Wide availability of alternatives of fipronil such as boric acid, silica gel, and diatomaceous earth, which are less toxic compared to fipronil, is expected to hinder growth of the global fipronil market over the forecast period (2019 to 2027).

Key Market Takeaways:

• The global fipronil market is expected to exhibit a CAGR of 2.9% during the forecast period in terms of value.
• Based on form, powder formulation held the largest share and pegged for 3,584.5 tons in the global fipronil market in 2018, in terms of volume. The segment growth is driven by major use of power formulation in seed treatment applications.
• Among regions, Asia Pacific held dominant position in the global market and contributed for US$ 265.0 million in the global fipronil market in 2018, in terms of revenue. China held largest market volume share of 34.0% in Asia Pacific fipronil market in 2018, however, it is expected to decline to 3.4% in 2027. The decrease in demand can be attributed to the ban imposed on usage of fipronil in countries such as China in Asia Pacific region. For instance, on March 25, 2019, the Ministry of Agriculture and Rural Affairs (MoARA) of China issued the Announcement 148 to ban agricultural uses of fipronil in China. Moreover, according to the article published by Ministry of Commerce of the People's Republic of China in February 2019, Vietnam's Ministry of Agriculture and Rural Development also issued a resolution to ban usage of products containing chlorpyrifos and fipronil, and fipronil is banned from sales and use after two years from February 19, 2019.

Key companies operating in fipronil market include, BASF SE, Parijat Industries (India) Pvt. Ltd, GSP Crop Science Private Limited, Gharda Chemicals Limited, Insecticides (India) Ltd., Bharat Rasayan Ltd., Himani Industries Limited, FMC Corporation, Dhanuka Agritech Ltd., and HPM Chemicals and Fertilizers Limited.

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Market Segmentations:

• Global Fipronil Market, By Form:
• Powder Formulation
• Liquid Formulation
• Global Fipronil Market, By Application:
• Agriculture
• Turf Products
• Seed Treatment
• Pet Care Products
• Gel Baits
• Liquid Termiticides
• Global Fipronil Market, By Region:
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• South Korea
• Australia
• Rest of Asia Pacific
• Middle East
• GCC
• Israel
• Rest of Middle East
• Africa
• North Africa
• Central Africa
• South Africa

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