Fipronil Market, By Form (Powder Formulation and Liquid Formulation), By Application (Agriculture, Turf Products, Seed Treatment, Pet Care Products, Gel Baits, and Liquid Termiticides), By Regional (North America, Europe, Asia-Pacific, Middle East and Africa, South America) Forecast, 2021–2030

The Fipronil Market is projected to grow from USD XX billion in 2021 to USD XX billion in 2030 at a CAGR of XX%. Fipronil is used as an insecticide and as an active ingredient in veterinary medicine. It is useful against some insects and cotton pests that have become resistant to the existing insecticides. Fipronil is also used to treat parasites and in the treatment of lice in pets. Many drugs are commonly used off-label in veterinary medicine, which includes fipronil. The product can be used as part of a treatment strategy for the control of flea allergy dermatitis in pets.

Increasing usage of fipronil in agrochemicals to safeguard harvest is expected to provide growth prospects to the market. The increasing population has led to the rising need for optimized food production. Increasing food production has resulted in high demand for insecticides, which helps to improve crop productivity. This factor is driving demand for fipronil-based insecticides, which in turn is augmenting the market growth.

Fipronil Market

COVID-19 Impact

Market Projected to Grow in India and Decline in the U.S., Europe, and China

The COVID-19 global outbreak has led stakeholders and governments across many countries to focus on the veterinary, food, and healthcare sectors. There is a lot of concern about the prevention of disease transmission through animals into food or to humans. The pandemic has thrown light on adopting preventive measures to secure global health and curb disease spread through animals, plants, and human beings to protect inclusive healthcare.

The agrochemical industry has been steady in India due to the high demand for food production and food being an essential commodity. The demand for quality food has led to demand for agrochemical, which has helped farmers produce food stock to meet the demands of the food industry in these difficult times of COVID-19. The fipronil market is expected to retain growth in India due to high demand in agriculture; however, it will decline in China, the U.S., and Europe due to regulations and ban imposed on the usage of fipronil.

Latest Trends

Introduction of Innovative Agrochemicals

The launch of innovative agrochemicals by key players to cater to the growing demand for affordable products to curb crop wastage due to insects is expected to offer profitable opportunities to the fipronil market. For instance, in October 2020, Insecticides India NSE launched three new products. The products include insecticide in granular form, new age post-emergency herbicide to control grass weed species in wheat crops, and a biological product for improving soil health.

Driving Factor

High Demand for Insecticides

High demand for fipronil as agrochemical, used as a seed coating, or to treat the soil in agriculture is expected to drive the market growth. High demand for the product in the horticultural industry for turf plant protection is expected to propel market growth. The demand for fipronil-based chemicals from the residential and industrial sector to control insect and pest infestation with gel baits and sprays is expected to augment the market growth. These fipronil-based spray and products are used to control fleas, ticks, and to treat pets, in the veterinary sector.

Restraining Factor

Stringent Regulations and Ban on Fipronil’s Use and Availability of Substitutes

In recent years, the toxic effects of fipronil on the environment and non-target species have resulted in stringent restrictions on its use. Countries such as China, the U.S., Europe, and South America have put restrictions on the use of fipronil. For instance, in September 2018, the U.S. EPA banned fipronil seed treatments for corn (maize), and Europe banned fipronil in agriculture, which can hinder market growth. The availability of better alternatives is also expected to hamper the market growth during the forecast period.

Market Segmentation

By Form

Liquid fipronil Segment to Gain Major Market Share

Based on form, the market is divided into powder formulation and liquid formulation. The liquid fipronil segment is projected to gain a substantial market share. The growth can be attributed to its demand in agriculture as agrochemical to protect crops from pests. Liquid fipronil is used in agriculture and domestic applications to kill insects or rats.

By Application

Agriculture Segment to Dominate the Market

Based on application, the market is divided into agriculture, turf products, seed treatment, pet care products, gel baits, and liquid termiticides. The agriculture segment is expected to dominate the market during the forecast period. The segment growth can be attributed to the high demand for insecticides for pest control. Increasing demand for agrochemicals to boost crop production and reduce crop wastage due to pests is projected to drive the segment growth.

By Region

The Asia-Pacific Holds a Major Market Share

Based on region, the market is segmented into North America, Europe, the Asia-Pacific, the Middle East and Africa, and South America. Asia-Pacific holds the largest market share. The market dominance can be attributed to the presence of an agriculture-based economy like India. The need to increase food production and curb pests, boost crop yield, and favorable government policies to support agriculture contribute to the Indian market growth. India has a robust agriculture sector, which is expected to grow further leading to high demand for insecticides.

According to the India Brand Equity Foundation, in 2019–20, crop and food grain production reached a record 295.67 million tons (MT). Agricultural export from India was nearly USD 38.54 billion in 2019 and USD 35.09 billion in 2020. However, the regional market in China declined due to the ban imposed on usage of fipronil. On March 25, 2019, the Ministry of Agriculture and Rural Affairs (MoARA) of China banned use of fipronil in agriculture. Moreover, according to the Vietnam's Ministry of Agriculture and Rural Development, in February 2019, the usage of products containing fipronil was banned from sales and use.

Key Industry Players

Market Players Focus on Capacity Expansion

The market players are focusing on expansion of production capacity of agrochemical. For instance, in November 2020, Meghmani Organics (MOL) expanded commercial production in two agrochemical plants. The cost for setting up the agrochemical formulation plant was Rs 25 crore.

Fipronil Market

 

List of Players

  • Parijat Industries (India) Pvt. Ltd
  • BASF SE
  • GSP Crop Science Private Limited
  • Insecticides (India) Ltd
  • Bharat Rasayan Ltd
  • Gharda Chemicals Limited
  • Himani Industries Limited
  • Dhanuka Agritech Ltd.
  • FMC Corporation
  • HPM Chemicals and Fertilizers Limited

Key Industry Developments

  • In May 2018, Insecticides India Limited launched four new products. These products include Encounter, Sofia, Aikido, and Hercules. These products were developed, in order to get better yields and help the company in gain a significant market share in India.

Market Segment

By Form:

  • Powder Formulation
  • Liquid Formulation

By Application:

  • Agriculture
  • Turf Products
  • Seed Treatment
  • Pet Care Products
  • Gel Baits
  • Liquid Termiticides

By Region:

North America

  • North America, by Country
    • U.S.
    • Canada
    • Mexico
  • North America, by Form
  • North America, by Application

Europe

  • Europe, by Country
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • The Rest of Europe
  • Europe, by Form
  • Europe, by Application

 

  • Asia-Pacific
  • Asia-Pacific, by Country
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • The Rest of Asia-Pacific
  • Asia-Pacific, by Form
  • Asia-Pacific, by Application

 Middle East and Africa

  • Middle East and Africa, by Country
    • The UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • The Rest of Middle East and Africa
  • Middle East and Africa, by Form
  • Middle East and Africa, by Application

South America

  • South America, by Country
    • Brazil
    • Argentina
    • The Rest of South America
  • South America, by Form
  • South America, by Application

FAQs Answered in the Report

  • In the fipronil industry, what are the most important regional markets?
  • What is the market segmentation based on type?
  • What is the market segmentation dependent on end-user?
  • What are the different phases of the fipronil industry's value chain?
  • What are the major drivers and threats in the fipronil market?
  • Who are the main players in the fipronil industry?
  • What level of rivalry does the fipronil industry have?
  • What are the profit margins in the fipronil industry?

Objectives of this report:

  • To estimate the market size for the fipronil market on a regional and global basis.
  • To identify major segments in the fipronil market and evaluate theirmarket shares and demand.
  • To provide a competitive scenario for the fipronil market with major developments observed by key companies in the historic years.
  • To evaluate key factors governing the dynamics of the fipronil market with their potential gravity during the forecast period.

Reasons to Buy This Report:

  • It provides niche insights for a decision about every possible segment helping in the strategic decision-making process.
  • Market size estimation of the fipronil market on a regional and global basis.
  • A unique research design for market size estimation and forecast.
  • Identification of major companies operating in the market with related developments
  • Exhaustive scope to cover all the possible segments helping every stakeholder in the fipronil market.

Customization:

This study is customized to meet your specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country
  • Product Specific Competitive Analysis

For more information, contact: sales@quincemarketinsights.com