Southern Asia: Insecticide Market 2024

Insecticide Market Size in Southern Asia

In 2021, after nine years of growth, there was significant decline in the South Asian insecticide market, when its value decreased by -27.6% to $X. The total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then reduced rapidly in the following year.

Insecticide Production in Southern Asia

In value terms, insecticide production declined slightly to $X in 2021 estimated in export price. Overall, production, however, showed a strong expansion. The growth pace was the most rapid in 2019 when the production volume increased by 44%. Over the period under review, production reached the maximum level at $X in 2020, and then dropped slightly in the following year.

Insecticide Exports

Exports in Southern Asia

In 2021, exports of insecticides in Southern Asia soared to X tons, rising by 21% compared with the year before. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 70% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, insecticide exports skyrocketed to $X in 2021. Over the period under review, exports saw resilient growth. The pace of growth was the most pronounced in 2019 when exports increased by 55%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

In 2021, India (X tons) was the major exporter of insecticides in Southern Asia, creating 99% of total export.

India was also the fastest-growing in terms of the insecticides exports, with a CAGR of +12.2% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest insecticide supplier in Southern Asia.

In India, insecticide exports increased at an average annual rate of +10.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, surging by 12% against the previous year. In general, the export price, however, showed a slight decrease. The pace of growth was the most pronounced in 2018 an increase of 29% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -1.9% per year.

Insecticide Imports

Imports in Southern Asia

In 2021, approx. X tons of insecticides were imported in Southern Asia; rising by 3.3% on 2020. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 23%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, insecticide imports rose markedly to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.0% against 2016 indices. The growth pace was the most rapid in 2017 when imports increased by 24%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

The purchases of the four major importers of insecticides, namely India, Bangladesh, Pakistan and Nepal, represented more than two-thirds of total import. It was distantly followed by Sri Lanka (X tons), mixing up a 5.9% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of +22.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported insecticides in Southern Asia, comprising 69% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 13% share of total imports. It was followed by Pakistan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in India totaled +6.5%. In the other countries, the average annual rates were as follows: Bangladesh (+5.6% per year) and Pakistan (+5.3% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 7.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2019 when the import price increased by 21% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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