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Description
The global insecticides market was valued at USD 15.9 billion in 2020, it is projected to grow at a CAGR of 6.9%, to reach USD 21.5 billion by 2027. During the forecast period, the insecticides market is expected to be driven by a decrease in per capita arable land, increased crop losses owing to insect attacks, and advancements in farming practises and techniques. Insecticides are also seeing an increase in demand due to rising global exports and an increase in crop losses due to insect infestation. he number of pests in various crops around the world is increasing, and insecticide-resistant pests are becoming more common. Insecticides can be used to manage a wide range of pests; but, as bugs acquire resistance, they lose their effectiveness over time. This results in a considerable reduction in pesticide sensitivity, lowering pesticide field performance. Insecticides are primarily a type of pesticides that are employed to kill or inhibit the growth of insects. The insecticides market in segmented based on various types of products including pyrethroids, neonicotinoidsn, organophosphorus compounds and methyl carbamate. Global insecticide market is primarily driven on account of modern farming techniques, protected agricultural practices in various regions, emerging technologies in the farming sector and high returns on investment.
