A recent report published by Infinium Global Research on insect growth regulators market provides in-depth analysis of segments and sub-segments in global as well as regional insect growth regulators market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional insect growth regulators market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global insect growth regulators market. According to the report, the global insect growth regulators market is projected to grow at a CAGR of 6.7% over the forecast period of 2018-2024.
Insects can cause serious damage to the crops that result in decreased agricultural productivity. Insect growth regulators (IGRs) are insecticides that mimic hormones in young insects; they disrupt the growth and reproduction of insects. They are referred to as birth control for pests. As an insect grows it molts, growing a new exoskeleton under its old one and then shedding the old one to allow the new one to swell to a new size and harden. IGRs prevent an insect from reaching maturity by interfering with the molting process. This in turn curbs infestations because immature insects cannot reproduce.
Globally increasing usage of environment-friendly insecticides for crop production is expected to be the key factor driving growth in this market. The use of insect growth regulators helps in impeding the growth of pests and ultimately leads to its death that prevents the crops from being damaged. It also reduces the potential risk of chronic poisoning caused by chemical insecticides among its applicants. Moreover, it has minimal impact on the environment and is non-toxic to human beings. Apart from its application in agriculture, it is now been widely used in commercial pest control which in turn, helps to boosts the market growth. The insect growth regulators are labeled "reduced risk" by the Environmental Protection Agency that is likely to positively impact the insect growth regulator market. However, IGRs are effective only in the initial stages of pest and insect growth and the use of conventional insecticides and pesticides restrain the growth of insect growth regulator market. Furthermore, less stringent laws for insect growth regulators are further facilitating growth opportunities for the emerging insect growth regulator market.
By geography, North America holds the dominant market share in the historic period 2017 and is anticipated to maintain its leading position throughout the forecast period. The factors attributing to the growth of this region includes the adoption of environmentally safe crop protection products, growing use of insect growth regulator in pest control applications and the presence of many leading insect growth regulator manufacturing companies in this region. The advancements in developing improved insect growth regulators for treating a different variety of pests is expected to promote the growth of insect growth regulator market. Furthermore, Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period owing to increase adoption of insect growth regulator in agriculture and pest control applications.
The report on global insect growth regulators market covers segments such as product, form, and applications. On the basis of product, the global insect growth regulators market is categorized into chitin synthesis inhibitors, and juvenile hormone analogs and mimics. On the basis of form, the global insect growth regulators market is categorized into bait, and liquid. On the basis of applications, the global insect growth regulators market is categorized into commercial, and residential.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the insect growth regulators market. As a result, the APAC region is projected to experience a growth at a CAGR of x.xx% over the forecast period 2018-2024.
The report provides profiles of the companies in the global insect growth regulators market such as Sumitomo Chemical Company Limited, McLaughlin Gormley King Company, Russell IPM, Nufarm Limited, HELM AGRO US, Inc., Dow AgroSciences LLC, Syngenta AG, OHP, Inc., and Central Life Sciences.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global insect growth regulators market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of insect growth regulators market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the insect growth regulators market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the insect growth regulators market to understand the present and future trends in this market and formulate their strategies accordingly.