According to a recent report by Reports and Data, the Global Insect Growth Regulators Market is projected to reach USD 1.35 Billion by 2026. These specialized products are utilized in the agricultural, commercial, and residential sectors to protect against pest infestations.
The market growth for these pesticides is influenced by the increasing adoption of environmentally friendly insect growth regulators. By blending these insecticides with other products, the development of pesticide resistance among insects can be slowed down, which is driving the market growth. These insecticides mimic hormones in young insects, disrupting their growth, development, and metamorphosis process. Farmers are opting for safer alternatives to harmful pesticides, particularly for livestock and farmlands.
While these factors collectively create opportunities for market growth, the adverse effects of these insecticides also impose limitations. Each factor is expected to have a specific impact on the market during the forecast period. The continuous advancements in the insect growth regulators market, driven by innovative efforts, have enhanced the effectiveness of organic farming techniques.
In the Asia Pacific region, the market for insect growth regulators is rapidly growing due to increased awareness about improving living standards, professional pest control services, health consciousness, and an expanding middle-income population. Countries like China and Japan, with favorable political, social, and economic conditions, contribute to market growth. The agricultural and commercial sectors in the Asia Pacific region employ these insecticides to prevent pest infestations.
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Key findings from the report include:
- The agriculture sector accounted for the largest market share of 44.0% in 2018, as farmers are adopting safer alternatives for harmful pesticides in livestock and farmland applications. The global usage of environmentally friendly pesticides for crop production is driving market growth.
- The aerosol form segment is projected to witness the highest compound annual growth rate (CAGR) of 6.9% during the forecast period. This is due to its ease of use compared to bait or liquid forms and its ability to be applied in areas such as joints, small openings, crevices, and cracks.
- Chitin synthesis inhibitors products held the largest market share of 40.3% in 2018. China emerged as the largest consumer of pesticides due to its growing agriculture and food and beverage industries, fueled by the increasing population. China has become a global leader in the production and consumption of organic pesticides due to its low-cost labor and rising awareness of bio-degradable, non-polluting, and non-persistent pesticides, which is driving the growth of the IGR market.
- The Asia Pacific region is expected to witness the highest CAGR of 9.1% during the forecast period. Countries such as 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 pesticides have shifted from North America to Asia.
- Key participants in the market include 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.
For this report, Reports and Data have segmented the Insect Growth Regulators Market based on type, application, form, and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026):
- Agriculture
- Residential
- Commercial
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026):
- Chitin synthesis inhibitors
- Juvenile hormone analogs and mimics
- Anti-juvenile hormone agents
Insect Growth Regulators Market: Notable Innoavtion
Notable Innovations in the Insect Growth Regulators Market:
- Microencapsulation Technology: Microencapsulation is a significant innovation in the insect growth regulators market. It involves the encapsulation of active ingredients in small particles, providing controlled release and prolonging the efficacy of insect growth regulators. This technology enhances the stability, persistence, and targeted delivery of the active ingredients, improving their overall performance in pest control.
- Combination Formulations: Innovations in insect growth regulators involve the development of combination formulations. These formulations combine multiple active ingredients, each targeting different stages or aspects of insect development. By incorporating synergistic or complementary ingredients, combination formulations enhance the effectiveness of insect growth regulators, providing a comprehensive approach to pest control.
- Novel Application Methods: Innovations in application methods have expanded the options for using insect growth regulators. For instance, the development of pheromone-based traps and dispensers allows the targeted release of insect growth regulators to attract and control pests in specific areas. Similarly, innovative spray systems and automated application equipment ensure efficient and precise application, reducing wastage and maximizing the impact of insect growth regulators.
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