Covina, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Insect Growth Regulators (IGRs) are a class of chemicals used in pest management and agriculture to control the population of insects. Unlike traditional insecticides, which target adult insects, IGRs disrupt the development and life cycle of insects by interfering with their growth, molting, or reproduction.
Insect Growth Regulator Market can play a crucial role in controlling disease vectors like mosquitoes, flies, and ticks. With the increasing focus on disease prevention, especially in areas with vector-borne diseases, the use of IGRs may expand.
Key Highlights –
- In April 2022, BASF launched new insecticide “Exponus” which helps Indian farmers protect crops from key insect pests. The insecticide effectively, quickly, and versatilely controls the most difficult insect pests, such as caterpillars and thrips. Novel way of action for effective & long-lasting crop protection in the segment of oil seeds, pulses, & vegetables.
Analyst View –
There is a rising need for environmentally friendly pest management strategies as worries about the effects of chemical insecticides on the environment and pest resistance develop. With their benefits for the environment, IGRs are anticipated to become more popular. IGRs have many applications in agriculture, and as agricultural practices around the world change, there will be a greater demand for efficient and environmentally friendly pest management techniques. Program for Integrated Pest Management (IPM) that use IGRs are anticipated to become more popular.
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Key Market Insights from the report:
Insect Growth Regulator Market accounted for US$ 1.05 billion in 2022 and is estimated to be US$ 2.3 billion by 2032 and is anticipated to register a CAGR of 7.7%.
- Based on Product, Insect Growth Regulator Market is segmented into Chitin synthesis inhibitors, Juvenile hormone analogs and mimics, and Anti-juvenile hormone agents.
- Based on Form, Insect Growth Regulator Market is segmented into Aerosol, Liquid, and Bait.
- Based on Application, Insect Growth Regulator Market is segmented into Agriculture, Residential, and Commercial.
- By Region, the Insect Growth Regulator Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Future growth of the insect growth regulator market:
- Increasing Demand for Sustainable Pest Control: Growing awareness of environmental sustainability and the adverse effects of traditional chemical pesticides have led to a shift toward more sustainable and eco-friendly pest control methods. Insect growth regulators are considered a safer alternative as they target specific stages in an insect's life cycle, reducing the need for broad-spectrum chemicals.
- Expansion of Agriculture and Horticulture: The expansion of agriculture and horticulture sectors, driven by a growing global population's food demand, has increased the need for effective pest management solutions. Insect growth regulators can play a vital role in integrated pest management (IPM) programs, making them valuable tools for farmers and growers.
- Resistance Management: Insect resistance to conventional pesticides is a growing concern. Insect growth regulators provide an additional tool to manage pest resistance by targeting specific mechanisms within the insect's biology. This can extend their effectiveness and reduce the need for frequent chemical applications.
- Regulatory Support: Many countries are implementing stricter regulations on chemical pesticide use, which can favor the adoption of insect growth regulators due to their lower toxicity and reduced environmental impact. Regulatory support for environmentally friendly pest control methods can drive market growth.
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Competitive Landscape & their strategies of Insect Growth Regulator Market:
The prominent players operating in the Insect Growth Regulator Market includes,
- Bayer Cropscience AG
- The DOW Chemical Company
- Sumitomo Chemical Company Limited
- Syngenta AG
- Adama Agricultural Solutions Ltd.
- Nufarm Limited
- Platform Specialty Products Corporation
- Central Life Sciences
- Valent U.S.A Corporation
- Control Solutions, Inc.
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