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Insect Growth Regulators Market is projected to grow $1,054.3 Million by 2022
The insect growth regulators market is mainly driven by the growing adoption of environmentally safe crop protection products. Furthermore, these compounds are highly convenient for use on crops such as cotton, tomatoes, wheat, and corn, among others.
The report "Insect Growth Regulators Market by Type (Chitin Synthesis Inhibitors, Juvenile Hormone Analogs & Mimics, Anti-juvenile Hormone Agents), Form, Application (Agricultural, Livestock Pests, Commercial Pest Control), and Region - Forecast to 2022", The global insect growth regulators market is estimated at USD 736.3 Million in 2016 and is projected to reach USD 1,054.3 Million by 2022, at a CAGR of 6.16% during the forecast period. The market is driven by factors such as adoption of environmentally safe crop protection products and rise in application scope of insect growth regulators in commercial pest control usage.
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The chitin synthesis inhibitors segment accounted for the largest market share, by type, in 2015
The chitin synthesis inhibitors segment had the largest market share, by type, in 2015. Chitin synthesis inhibitors restrict the development of the outer shell required during the molting process, resulting in death of the insect. These compounds also affect and kill the eggs of insects by restricting the development of embryos and are used on a wider scale for developing insect growth regulator products.
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124 - pages
The liquid segment accounted for the largest market share, by form, in 2015
The liquid segment of the insect growth regulators market had the largest share, by form, in 2015. Liquid insect growth regulator products are used both indoors and outdoors for residential and commercial pest control. They offer effective control over a wide range of insects in different application areas.
Commercial pest control is projected to have the highest CAGR from 2016 to 2022
The commercial pest control segment of the insect growth regulators market is projected to have the highest CAGR during the forecast period. This is due to increasing awareness about controlling infestation of pests and insects in storage warehouses and rise in commercial pest control. Insect growth regulator products are less toxic in nature and are effective when used in combination with other chemicals for controlling insects and pests.
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The Asia-Pacific market is projected to have the highest CAGR from 2016 to 2022
The Asia-Pacific market is projected to have the highest CAGR during the forecast period. The countries covered in the Asia-Pacific region have a growing agricultural sector and demand for less toxic chemicals which can cause little or no harm towards the crops as compared to other synthetic chemicals used. Insect growth regulator products restrict the growth of insects without having an adverse effect on the environment. Farmers in the Asia-Pacific region are more inclined towards generic products due to their low cost.
The companies profiled in this report are Bayer CropScience AG (Germany), Dow Chemical Company (U.S.), Sumitomo Chemical Company Ltd. (Japan), Syngenta AG (Switzerland), ADAMA Agricultural Solutions Ltd. (Israel), Nufarm Ltd. (Australia), Platform Specialty Products Corporation (U.S.), Central Garden & Pet Co. (U.S.), Valent USA Corporation (U.S.), and Russell IPM Ltd. (U.K.).
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