Insect Growth Regulators Market by Type, Form, Application, and Region - Forecast to 2022
LONDON, April 4, 2017 /PRNewswire/ -- "The global insect growth regulators market is projected to grow at a CAGR of 6.16%."
The global insect growth regulators market is estimated at USD 736.3 million in 2016 and is projected to reach USD 1,054.3 million by 2022, at a CAGR of 6.16% during the forecast period. The primary factors that drive the market are adoption of environmentally safe crop protection products and wider applicability of insect growth regulators in commercial pest control usage. The major restraining factors are that insect growth regulator products are effective only in the initial stages of pest and insect growth and are less effective when they are used as a stand-alone control method. They have a low knockdown effect when used as a stand-alone product as they only control the growth stages among insects and pests; do not kill them directly.
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"The juvenile hormone analogs & mimics segment is projected to have the highest CAGR, by type, during the forecast period."
The juvenile hormone analogs & mimics segment is projected to have the highest CAGR, by type, during the forecast period. This is due to its wide-scale usage in commercial pest control, both indoors and outdoors, which increases the reach of the product in controlling the insect's maturation process.
"The aerosol segment is projected to have the highest CAGR, by form, during the forecast period."
The aerosol segment is projected to have the highest CAGR during the forecast period. Aerosol insect growth regulators are easy to store and also convenient to purchase in small quantities, which makes them preferable over other forms such as liquid or bait. They are most effective when the spray droplets contact the insect directly, rather than against insects in cracks and crevices.
"The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period."
The Asia-Pacific market is projected to have the highest CAGR during the forecast period considered for the study. The demand for insect growth regulator products is growing in this region due to the rise in awareness about better crop protection methods and the growing agricultural sector. There is also high demand for generic insect growth regulator products adopted by a majority of farmers in different countries in the Asia-Pacific region.
Break-up of Primaries:
- By Company Type: Tier 1 – 55%; Tier 2 – 20%; and Tier 3 – 25%
- By Designation: C Level – 75% and Manager Level – 25%
- By Region: North America – 15%; Europe – 25%; Asia-Pacific – 30%; South America - 10%; and RoW – 20%
Key players include the following:
- Bayer CropScience AG (Germany)
- Dow Chemical Company (U.S.)
- Sumitomo Chemical Company Ltd. (Japan)
- Syngenta AG (Switzerland)
- ADAMA Agricultural Solutions Ltd. (Israel).
The key companies in the insect growth regulators market adopted mergers & acquisitions, agreements & collaborations, new product launches & product approvals, investments, and expansions as their key growth strategies to increase their market share and profits. Mergers & acquisitions accounted for the highest number of developments followed by the agreements and collaborations.
Research Coverage
The report provides a picture of the insect growth regulators market across different segments. It aims at estimating the market size and future growth potential of this market across different types, forms, applications, and regions. The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Reasons to Buy the Report:
- To get an overview of the global insect growth regulators market.
- From an insight perspective, this research report has focused detailed analyses—industry, market share of top players, and company profiles.
- This report also explains high-growth segments of the global insect growth regulators market, its high-growth regions and, drivers, restraints, opportunities, and challenges.
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