IMARC Group, a leading market research company, has recently releases report titled “Insect Growth Regulators Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global insect growth regulators market size reached US$ 1,024.9 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,699.2 Million by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
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Factors Affecting the Growth of the Insect Growth Regulators Industry:
- Technological Advancements:
Innovations in formulation technologies are leading to the development of more stable and effective formulations of insect growth regulators (IGRs). These formulations can improve the shelf life of products, increase their resistance to environmental degradation, and enhance their compatibility with other pest control products. Microencapsulation and nanoencapsulation technologies help protect active ingredients, ensuring controlled release and prolonged efficacy. Innovative delivery systems allow for more precise and targeted application of IGRs, reducing the risk of off-target effects and minimizing environmental impact.
- Increasing Demand for Pest Control Solutions:
In agriculture, pests pose a constant threat to crop yields and quality, leading to significant economic losses for farmers. With global population growth and the need to ensure food security, there is a growing demand for effective pest control solutions to protect crops from damage. IGRs offer farmers a targeted and environment friendly approach to pest management, reducing reliance on broad-spectrum chemical insecticides. With increasing urbanization and climate change contributing to the proliferation of pests, there is a rising demand for pest control solutions to protect public health and improve quality of life. IGRs provide effective control of urban pests while minimizing exposure risks to humans and non-target organisms.
- Rise in Organic Farming Practices:
Organic farming emphasizes the use of natural and environment friendly pest control methods to manage pests while minimizing synthetic chemical inputs. In line with organic farming principles, farmers prefer using bio-based and biodegradable pest control products like IGRs, which offer effective pest management without leaving harmful residues on crops or in the environment. Organic farmers must adhere to strict certification standards that prohibit the use of synthetic pesticides and genetically modified organisms (GMOs).
Leading Companies Operating in the Global Insect Growth Regulators Industry:
- BASF SE
- Central Life Science (Central Garden & Pet Company)
- Control Solutions Inc (China National Chemical Corporation)
- Dow Inc, Nufarm Limited
- OHP Inc. (AMVAC Chemical Corporation)
- Russell IPM Ltd
- Sumitomo Chemical Co. Ltd. and Syngenta AG.
Insect Growth Regulators Market Report Segmentation:
By Product:
- Chitin Synthesis Inhibitors
- Juvenile Hormone Analogs and Mimics
- Ecdysone Antagonists
- Ecdysone Agonists
Chitin synthesis inhibitors represent the largest segment due to their effectiveness in disrupting the formation of chitin, a key component of insect exoskeletons, thereby inhibiting insect growth and development across a wide range of pest species.
By Form:
- Aerosol
- Liquid
- Bait
Liquid accounts for the majority of the market share as liquid formulations offer ease of application, better coverage, and efficient absorption by plants or target surfaces, making them preferred by users for pest control applications.
By Application:
- Agriculture
- Residential
- Commercial
Agriculture exhibits a clear dominance owing to the significant demand for pest control solutions to protect crop yields and quality, coupled with the growing adoption of integrated pest management practices in agriculture to minimize reliance on synthetic chemical pesticides.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the edtech market on account of its well-developed educational infrastructure, high adoption rates of digital technologies in education, and the presence of key edtech companies driving innovations and growth in the region.
Global Insect Growth Regulators Market Trends:
Ongoing research and development (R&D) activities focused on improving the efficacy, stability, and delivery of IGR formulations are propelling the market growth. Advancements in formulation technologies, such as microencapsulation and nanoencapsulation, enhance the shelf life and performance of IGR products, while innovations in delivery systems enable more precise and targeted application, optimizing pest control outcomes.
Rapid urbanization, coupled with concerns about vector-borne diseases and urban pests, is driving the demand for effective pest control solutions in urban and peri-urban areas. IGRs play a critical role in urban pest management programs, offering safe and long-lasting control of mosquitoes, cockroaches, and other urban pests without posing risks to human health or the environment.
Other Key Points Covered in the Report:
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
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