The FIPRONIL market is anticipated to grow at over 3% compound annual growth rate (CAGR) during the estimated period. This would be mainly due to higher demand for crop safety applications. FIPRONIL serves primarily as an insecticide. It belongs to the family of ‘phenylpyrazole chemicals’ and is utilized to contain the growth of termites, ants, & cockroaches.
The major propeller of the market includes concerns about diseases transmitted from insects & their prevention. Expanding industry of ‘commercial pest management’ is also a significant driver of the market. Higher demand for food grains is expected to propel market sales. Increasing per capita incomes and awareness about ‘pet’ benefits have led more people to own pets.
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One of the key restraints in the FIPRONIL market comprises this product’s injurious effects on humans. Humans, if exposed to FIPRONIL for a short period, may suffer from skin irritation and some other maladies. Consumption of this chemical may also cause vomiting, headache, & other ill-effects, depending on the amount consumed. FIPRONIL is a toxin which acts slow and more sensitive to light.
The chemical serves as a ‘good bait’ poison due to insects not finding it revolting or unpleasant. This is a feature which bodes well for the market. Asia Pacific (APAC) will be a key market propeller because of its applications in agriculture. Its different varieties of flora and fauna have boosted the regional consumption of insecticides.
Higher ‘food grain’ exports from India, China, and other emerging nations are also projected to drive the FIPRONIL market. The United States is the largest insecticide producer in North America. It is said to further regional expansion owing to large number of pets in its households. Latin America should be a major driver for non-agricultural purposes.
Primary participants of the global market have spent vast amounts of capital in developing nations to make a mark and better their distribution networks. Some of these are BASF AG, Bayer CropScience, Shandong Audis Biotechnology Co. Ltd., and Merial Ltd. Decreasing arable land & burgeoning population because of swift industrialization may also augur well for this market and propel its revenues.