The insect growth regulators market is mainly driven by the growing adoption of environmentally safe crop protection products. Furthermore, these compounds are highly convenient for use on crops such as cotton, tomatoes, wheat, and corn, among others. The insect growth regulators (IGRs) market is estimated to be USD 736.3 million in 2016 and is projected to reach USD 1,054.3 million by 2022, at a CAGR of 6.16%.
There is a growing demand for insect growth regulators in commercial pest control management, indoors as well as outdoors. It can be mixed with insecticides to control mosquitoes, fleas, and other insects. Insect growth regulators interrupt the development of juvenile stages of targeted insects such as ants, cockroaches, fleas, ticks, mosquitoes, litter beetles, and flying insects to prevent them from becoming egg-laying adults. Additionally, they have low toxicity levels, and some are even approved to be used in food establishments.
The chitin synthesis inhibitors segment accounted for the largest share among all the types of insect growth regulators, in 2016. The large share of this segment is due to their ability to restrict the early growth among insects by inactivating chitin synthesis, which is responsible for exoskeleton development.
The insect growth regulators market, by application, is estimated to be dominated by the agricultural segment in 2018. This dominance is attributed to the higher use of IGRs on field crops to control the infestation of insects and pests. These are also used for stored grains in warehouses. The crops on which insect growth regulator products are used include soybean and cotton.
On the basis of form, the insect growth regulators market has been segmented into bait, liquid, and aerosol. Liquid insect growth regulators are usually in the form of concentrates and have a longer shelf life. The insect growth regulator products available in the form of concentrates are usually juvenile hormone analogs & mimics. They restrict the larvae from advancing into the adult form. Hence, the liquid form segment is estimated to account for the largest share in 2016.
North America is estimated to dominate the insect growth regulators market in 2016. The region’s high adoption of modern and less toxic pest control products for different applications is likely to contribute to the growth of this market.
The global market for insect growth regulators is dominated by key players such as Bayer CropScience (Germany), The Dow Chemical Company (US), Sumitomo Chemical Company (Japan), Syngenta AG (Switzerland), and Adama (Canada). Some other key players in the market are Platform Specialty Products Corporation (US), Nufarm Limited (Australia), Valent U.S.A Corporation (US), Russell IPM Ltd. (UK), and Central Gardens & Pets Co (US).