Insect Growth Regulators Market Will Hit Big Revenues in Future

The global insect growth regulators market size is projected to reach USD 1,054.3 million by 2022, at a CAGR of 6.16% from 2017 to 2022. The global market has been witnessing strong growth over the last few years due to the growing shift from the development of neurotoxic, broad-spectrum insecticides toward less toxic and more environment-friendly products. The insect growth regulators market is segmented on the basis of type, form, application, and region. The segmentation by type includes chitin synthesis inhibitors, juvenile hormone analogs & mimics, and anti-juvenile hormone agents. The market on the basis of form is segmented into liquid, aerosol, and bait. The market is also segmented by application into agricultural, livestock pests, and commercial pest control. On the basis of region, it is segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World (RoW).

The primary factors that drive the insect growth regulators market are the adoption of crop protection chemical products that are environmentally safer and less toxic to use. Insect growth regulator products are more selective and cause little to no damage to other plants and animals that come in contact with them as they are more compatible with biological approaches. There is a rise in the commercial pest control segment in the usage of insect growth regulator products as they are selective in nature.

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On the basis of type, the juvenile hormone analogs & mimics segment, by type, is projected to have the highest CAGR from 2016 to 2022. This is due to its wider usage in commercial pest control methods which use juvenile hormone analogs & mimics on a large scale. Juvenoid insect growth regulators act directly on insect eggs causing sterilization, disrupt behavior, and disrupt diapause (the process that triggers dormancy). All insect systems influenced by juvenile hormone analogs are potential targets for a juvenoid insect growth regulator.

The aerosol segment, by form, is projected to have the highest CAGR from 2016 to 2022. Aerosols are highly effective as they have direct contact with the target insect in the form of spray droplets. These can be used in small quantities and are preferable over other forms of insect growth regulators.

The commercial pest control segment is projected to have the highest CAGR from 2016 to 2022. This is due to the rise in awareness about the usage of less toxic chemicals in commercial spaces to control bugs and other insects. Due to growing concerns of property damage as a result of infestation of bugs and other insects, there is an increase in the demand for insect growth regulators in the commercial pest control industry.

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The Asia-Pacific market is projected to have the highest CAGR from 2016 to 2022. Insect growth regulator products are preferred in countries such as China, Japan, and India as they have growing agricultural sectors and more arable land. There is also high demand for alternatives to chemical-based treatment options for insects and pests, which is fueling the demand for insect growth regulators. The key players in the insect growth regulators market are Bayer CropScience AG (Germany), Dow Chemical Company (U.S.), Sumitomo Chemical Company Ltd. (Japan), Syngenta AG (Switzerland), ADAMA Agricultural Solutions Ltd. (Israel).