Albany, NY -- (SBWire) -- 08/30/2018 --Global Insect Growth Regulator Market: Snapshot

The intensifying demand for a class of pesticides that are safe to humans, environmental-friendly, and can treat pest insects that are immune to common insecticides has led to a rapid emergence of insect growth regulators (IGRs) in recent decades. IGRs are a kind of bio-rational compounds that can disrupt the normal development in insects, in both embryonic and post-embryonic stage, and work essentially by interfering with their molting process. World over, their soaring popularity in recent years is attributed mainly to their selectivity of action on specific pests and their non-toxicity to humans and the ecology. Unlike other pesticides, IGRs do not cause instant mortality but affect the hormonal process, and their long-term exposure on pests being treated cause their population to decline over time. The marked compatibility of IGR with other biological pest management systems is a key factor expected to bolster their uptake for controlling pests in agriculture, forests, gardens, and livestock.

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The global insect growth regulators market is predicted to rise from US$747.7 Mn in 2017 to reach a valuation of US$907.2 Mn by the end of 2022 end. The market is expected to register a CAGR of 3.9% from 2017 to 2022.

Chitin Synthesis Inhibitors Segment to Hold Dominant Share

The various product types are chitin synthesis inhibitors, juvenile hormone analogs and mimics, and anti-juvenile hormone agents. Of these, the chitin synthesis inhibitors segment holds a major share and is projected to witness leading absolute growth annually from 2017 to 2022, estimated at US$12.4 Mn. The segment's valuation is pegged at US$414.5 Mn by 2017 end, representing a share of 55.4% in the market. The chitin synthesis inhibitors product type of insect growth regulators is projected to rise to US$ 476.3 Mn by 2022 end, which represents a share of 52.5% in the market. The segment is projected to expand at a CAGR of 2.8% from 2017 to 2022.

The vastly rising use of these compounds in agriculture is driven by their rapidity of action on a large number of insect pets and their marked functionality in disrupting the normal embryonic development leading to the destruction of their eggs. IGRs affecting other species not harmful to ecology is a key factor likely to hamper their demand to an extent.

North America Set to Dominate Global Market in Coming Years

The various regional markets for insect growth regulators are Latin America, North America, the Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, currently North America holds the dominant share of the global market and is anticipated to maintain its lead throughout the forecast period. The regional market is projected to rise from a valuation of US$261.6 Mn in 2017 to reach US$319.7 Mn in 2022. This represents a CAGR of 4.1% from 2017 to 2022. Substantial developments in advance formulations of insect growth regulators are fuelling the regional market growth. The presence of a number of prominent companies in the region is also accentuating this market.

Asia Pacific excluding Japan to Offer Lucrative Growth Avenues

The Asia Pacific excluding Japan (APEJ) insect growth regulator market is projected to rise at an absolute opportunity of US$37.4 Mn from 2027 to 2022 and is expected to present substantial lucrative avenues for market players.

Meanwhile, Europe is predicted to create an absolute opportunity of US$36.8 Mn between 2017 and 2022.

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Competitive Analysis

Key players profiled in the report are Dow Chemical Company, Bayer Crop Science AG, ADAMA Agricultural Solutions Ltd., Syngenta AG, Nufarm Ltd., Platform Specialty Products Corporation, Sumitomo Chemical Company Ltd., Valent USA Corporation, Central Garden & Pet Co., and Russell IPM Ltd. Several players are focused on developing advanced formulations of insect growth regulators that can treat a wide range of insect pests. Prominent companies are entering into mergers and acquisitions to gain a better stronghold in the market.