The Global Insect Growth Regulators Market is forecast to reach USD 1.35 Billion by 2026, according to a new report by Reports and Data. These insecticides are special products that are used in agricultural, commercial, and residential sectors for protection against pest attacks.
The market for such pesticides is influenced by the rising utilization of environment-friendly insect growth regulators. These insecticides are mixed with other products to slow the rate of pesticide resistance developed among insects and is booming the market growth. The insecticides mimic hormones in young insects and interfere with the growth, development, and the metamorphosis process of insects. Farmers are using safer alternatives for harmful pesticides for application in livestock and farmlands.
Key participants Bayer AG, Central Life Sciences, Control Solutions, Inc., McLaughlin Gormley King Company, Valent U.S.A LLC, Nufarm Limited, Russell IPM, Dow AgroSciences LLC, Syngenta AG, and Sumitomo Chemical Company Limited, among others.
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The factors mentioned above jointly create opportunities for the market growth, while factors such as the critical effects of these insecticides add limitations in market. However, each element would have a specific impact on the market during the forecast period. Consistent developments in the insect growth regulators market owing to innovative efforts have improved the efficiency of such organic farming techniques.
In the Asia Pacific region, due to the sudden rise in awareness regarding improving standard of living, professional pest control services, health awareness, and expanding middle-income population, the market for IGRs is propelling at a swift rate. The rising economy in counties like China and Japan are also contributing to market growth due to magnificent political, social, and economic conditions. Agricultural sector and commercial sector of the APAC region are using these insecticides for the prevention of pest infestation.
For the purpose of this report, Reports and Data have segmented into the Insect Growth Regulators Market on the basis of type, application, form, and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Chitin synthesis inhibitors
- Juvenile hormone analogs and mimics
- Anti-juvenile hormone agents
Form Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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Further key findings from the report suggest
- Agriculture sector held the largest market share of 44.0% in the year 2018. Farmers are adopting safer alternatives for harmful pesticides for application in livestock and farmlands. Globally growing usage of environment-friendly pesticides for crop production is expected to be a factor which is driving market growth.
- The aerosol form segment is forecasted to witness the highest CAGR of 6.9% during the forecast period. This segment is rising since it is easier to use compared to that of bait or liquid. It also allows easier application in areas such as joints, small openings, crevices, and cracks.
- Chitin synthesis inhibitors products held the largest market share of 40.3% in the year 2018. China became the largest consumer of pesticides owing to the ever-growing agriculture sector, along with the food and beverage industry in this region because of the growing population. China became a leader in the world for production and consumption of these organic pesticides because of its low-cost labor, and rising awareness of bio-degradable, non-polluting, and non-persistent pesticides, which is encouraging the growth of the market of IGRs.
- Asia Pacific is expected to witness the highest CAGR of 9.1% during the forecast period. Countries like India, China, Taiwan, South Korea, and Japan are rapidly catching up with the growth in the insect growth regulators market. The manufacturing and consumption of these kind of pesticides have shifted from North America to Asia.
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