According to the report published Allied Market Research, the global fly control chemicals market for waste management generated $74.4 billion in 2018, and is estimated to garner $120.9 billion by 2026, growing at a CAGR of 6.1% from 2019 to 2026. The research provides an extensive analysis of changing market trends, key investment pockets, major segments, top winning strategies, and competitive scenario.
Surge in waste generation and significant rise in insect population are the crucial factors that fuel the growth of the global fly control chemicals market for waste management. However, storing and handling of insecticides hinder the market growth to some extent. On the other hand, rise in stringent government regulations for waste management is estimated to offer opportunities in coming years.
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On the basis of type, the adulticide segment accounted for nearly three-fourths of the total market of the global fly control chemicals market for waste management in 2018, and is projected to maintain its dominance during the forecast period. On the other hand, the larvicide segment is expected to witness the highest CAGR of 6.9% from 2019 to 2026. This is attributed to Larvicide being one of the crucial tools to prevent the mosquitoes breeding.
On the basis of the waste treatment method, the incineration segment is expected to grow the highest CAGR of 7.0% during the forecast period. This is attributed to benefits including manufacturing of energy, lowered pollution, and convenience offered by incinerators in every working environment. However, the mechanical biological treatment segment contributed to nearly two-fifths of the total market revenue in 2018, and is expected to maintain its lead position by 2026.
Based on region, Asia-Pacific accounted for the largest share in 2018, accounting for more than half of the total share of the global fly control chemicals market for waste management. Moreover, this segment is estimated to grow at the highest CAGR of 6.5% from 2019 to 2026. This is due to factors including enhanced infrastructure, rise in waste management reforms, and rise in urban population in emerging countries drive the regional growth. However, North America would witness the highest CAGR of 5.5% from 2019 to 2026.
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Leading market players analyzed in the report include BASF SE, FMC Corporation, Bayer AG, Sumitomo Chemical Co. Ltd., Aimco Pesticides Ltd., and Syngenta.
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