The effects of the COVID-19 pandemic are felt across the chemical industry. The increasing incapacity in the production and manufacturing processes in the face of the quarantined workforce has resulted in significant supply chain disruption across the industry. Restrictions encouraged by this pandemic are hampering the production of essential goods such as life-saving medicines.
The nature of chemical plant operations that cannot be easily stopped and started makes the operating restrictions at these plants a serious problem for industry leaders. Restricted and late deliveries from China have resulted in a rise in the price of raw materials, which affects the core of the chemical industry.
Declining demand from various affected sectors such as the automotive industry is having a negative impact on the growth of the chemical industry. In the face of the current crisis, market leaders are concentrating on becoming independent, which should benefit the economic growth of various economies in the long term. Businesses are triggering events to restructure and remedy the losses incurred during the COVID-19 pandemic.
Environmental changes such as land surface properties and climatic fluctuations as well as increased anthropogenic activities such as mining, deforestation, mining and human mobility have led to an increase in vector-borne diseases such as dengue virus, Zika virus and malaria over the years – and thus driving sales of mosquito repellants.
According to a recently published study by Persistence Market Research (PMR) of the global mosquito repellant market, mosquito repellants are projected to be high in developing countries, with APEC leading the lawsuit. According to the report, APEC and China together make up about half of the volume and value share – demand is expected to continue growing at a significant CAGR.
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Global mosquito repellent sales are expected to generate a valuation of $ 4 billion in 2019, and global sales (in million units) are expected to increase 1.8-fold to 54,406 million units over the same period. The overall mosquito repellent market is expected to grow a robust 8 percent CAGR in terms of value through 2018-2026, considering:
- Governments in different regions in Southeast Asia, Sub-Saharan Africa and Latin America are investing heavily in various vector control strategies to reduce reported malaria cases.
- Manufacturers focus on developing effective and environmentally friendly mosquito repellant products to prevent vector-borne diseases.
- Increased investment in research and development initiatives to discover natural materials for the development of cost-effective advanced products and mosquito repellent products for indoor and outdoor use.
- Strict regulation by authorities such as the European Environment Agency, the European Medicines Agency and the Environmental Protection Agency (EPA) to ensure consumer safety will increase the demand for natural mosquito repellants with lower concentrations of active ingredients.
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APEC and China continue to see significant demand
With a market share of over 36 percent with a substantial incremental forecast of opportunities, APEC is likely to remain the most lucrative and revenue-generating bag for mosquito repellants. India is expected to gain high basis points after the rest of APEC and continue to expand its market share. In terms of the additional opportunities created in the 2018-2026 forecast period, India is expected to account for around 50 percent. Apart from India, a significant increase in the demand for mosquito repellent products is forecast in countries such as South Korea, Malaysia and Bangladesh in the coming years. On the flip side, with increasing urban congestion in the region, China is likely to be positioned in the high volume and value growth quadrant. Aside from the emerging markets, North America, followed by Europe, will see moderate growth in the mosquito repellent market.
Opportunity Analysis: “PMR sees significant growth opportunities in rural and developing markets given the widespread availability of unbranded mosquito repellants in India. Manufacturers are increasing their share of sales in low-income developing regions by launching relatively cheaper and more effective products such as Good Knight Fast Cards, roll-on wipes from SC Johnson and Sons, and Godrej Consumer Products Limited. These cards are available for 1 rupee each, burn instantly for 3 minutes, produce no smoke and can prevent mosquitoes for up to 5 hours. In addition, cream-based mosquito repellants are expected to remain the most popular products with a market share of over 53 percent in 2018. However, a low toxicity and a high repellent effect will lead to significant market demand for vaporizers in the coming years. “Explains a senior analyst.
Bio-based, plant-based mosquito repellent formulations are gaining in preference
Although N, N-diethyl-3-methylbenzamide, also called DEET, provides protection against a number of insects, including mosquitoes, fleas, leeches, and ticks, several studies indicate its harmful effects on the human nervous system. Currently, with a relatively low volume share of the global mosquito repellent market by sources, the bio-based segment will expand with a promising CAGR of over 8.5 percent and maintain its position in terms of growth over the forecast period.
In order to counteract the negative effects of synthetic mosquito repellants, manufacturers are developing natural mosquito repellants that are just as effective as synthetic mosquito repellants. For example, some soy-based repellants are known to provide longer protection than low-concentration DEET products. Most mosquito repellants contain petroleum, parabens, and phthalates, among other synthetic chemicals, which cause skin allergies and reactions. Oil and lamoneucalyptus (OLE) is a herbal repellent that has been shown to provide similar protection to lower levels of DEET. Manufacturers also use natural repellants such as essential oils, which are low in toxicity, instead of chemicals to make mosquito repellants.
The mosquito repellent market shows a moderately consolidated landscape
Tier 1 manufacturers including
- Godrej Group
- SC Johnson and Sons
- Dabur India Ltd.
- Jyothy Laboratories Limited
- Reckitt Benckiser Group plc.
- BASF SE
- SPECTRUM BRANDS, INC.
- 3M Company
- Global Consumer Products Private Limited
- Herbal Strategy
hold approximately 50-60 percent of the total market share. The tier 1 players have a diversified product portfolio and supply different forms and types of mosquito repellants for urban and rural regions. Tier 2 mosquito repellant manufacturers make up almost 25 to 30 percent of the total market – with relatively low production capacity and limited regional presence. Tier 2 manufacturers include Coghlan, Omega, Jyothy Laboratories, Global Consumer Products Private Limited and Avon Product Inc. With a share of around 10 to 15 percent of the total market, tier 3 players are the smaller domestic players with a limited product range and regional status present. The central differentiation strategies include:
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