The Global Insect Growth Regulator Market is projected to rise from a valuation of US$747.7 Mn in 2017 to reach US$907.2 Mn by 2022 end. The market is anticipated to expand at a CAGR of 3.9% during the forecast period of 2017–2022.the rising demand for an eco-friendly and safer alternative measures to control insect pests is a key factor driving the market. The growing number of commercial applications in pest control mechanism in agriculture and forestry, gardens, and stored products is boosting the worldwide insect growth regulators market. The mounting concern of insecticides-resistant pests in post-harvest ecosystem in various parts of the world is a key factor bolstering the demand for insect growth regulators. The intensifying need for insecticides alternatives that do not affect other beneficial insects in a closed environment is catalyzing the growth of the market. The growing use of these compounds to disrupt the normal development of embryo is fueling the growth of the market. Insect growth regulators also find wide applications in controlling populations of a variety of insect pests, including cockroaches, bedbugs, and fleas. The growing application of insect growth regulators in managing stored-product insect pests is a key factor accentuating the market. The advent of highly targeted insect growth regulators for controlling the insecticidal activity of higher order vertebrates in indoor and outdoor applications is an important trend catalyzing the growth of the market.
Regionally, the North America leads the global insect growth regulators market as it currently holds the dominant revenue share. The regional market is likely to maintain its lead in the coming years as well. The North America is projected to be worth US$319.7 Mn by 2022 end. Of all product types, the chitin synthesis inhibitors is predicted to stay ahead of the pack throughout the forecast period. The wide demand of these compounds is attributed to their versatile activity over longer period of time than other insect growth regulators used to treat insects.
Several players are actively engaged in developing insect growth regulators formulations that can treat a wide range of pests, are eco-friendly, and are non-toxic to humans, in order to stay ahead of the pack. Key players operating in the insect growth regulators market include 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.
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