Insect Growth Regulator (IGR) Insect Growth Regulator Market

Insect Growth Regulator (IGR) Market: Industry Prospective

The Insect Growth Regulator (IGR) Market was worth around USD 872.1 million in 2021 and is estimated to grow to about USD 1,230.1 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report analyzes the Insect Growth Regulator (IGR) Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Insect Growth Regulator (IGR) Market

Insect Growth Regulator (IGR) Market: Overview

IGRs are man-made compounds that disrupt the insect's reproductive cycle and eventually kill it. They imitate the hormones found within the insect's body and hinder its growth during the molting stage. The rising global usage of environmentally-friendly pesticides is predicted to be a major driver of market expansion. IGRs are materials that have a high degree of efficiency. As a result, demand from a variety of industries, including agriculture, residential, and commercial, has increased. In recent years, the development in integrated pest control and organic farming methods in rising nations such as India and China has played a significant influence in increasing demand. This pattern is predicted to continue throughout the projected period. Due to the growing popularity of organic farming, IGRs are in high demand. Crop protection compounds used in organic farming break down quickly and have a little environmental impact because they are primarily derived from natural sources. Thus driving the growth of the market. Furthermore, growing worries about environmental toxicity and human safety drive the need for biodegradable insect growth regulators. Other factors likely to boost the growth of the worldwide Insect Growth Regulators Market include increased awareness of the adverse effects of insecticides on the environment and increased acceptance of ecologically safe crop protection products.

Covid-19 Impact

Over the pandemic period, almost every industry in the world has suffered a setback. This is due to major disruptions in their separate manufacturing and supply-chain operations as a result of numerous precautionary lockdowns and other limitations imposed by governing bodies around the world. The same is true for the global market for Insect Growth Regulator (IGR). Furthermore, consumer demand has subsequently decreased as people are now more focused on decreasing non-essential expenses from their separate budgets as the general economic condition of most people has been badly impacted by this outbreak. These factors are projected to weigh on the revenue trajectory of the global Insect Growth Regulator (IGR) market throughout the forecast period. However, when individual governing bodies begin to relax these imposed restrictions, the global Insect Growth Regulator (IGR) market is likely to rebound.

Insect Growth Regulator (IGR) Market: Driver

In recent years, there has been an increasing desire for safer insecticides and pesticide products to lessen the adverse impacts of regularly used pesticide products. These insecticides or pesticides are hazardous to both human health and the environment. This is a significant component of the rising need for insect growth regulators in emerging economies. Insect growth regulators are widely employed in the agriculture industry and commercial pest management systems to suppress the normal growth of pests and insects at many stages, including embryonic and post-embryonic development, behavior, and reproduction. The rising demand for environmentally friendly crop protection products is driving the growth of the insect growth regulator market. Various continuous research and development activities in developing a new variety of safe and environmentally acceptable solutions aid in the exponential expansion of the insect growth regulator market.

Insect Growth Regulator (IGR) Market: Restraint

The main limitations are that insect growth regulator chemicals are only effective in the early phases of pest and insect growth and are less efficient when used as a stand-alone control technique. When used as a stand-alone treatment, they have a modest knockdown effect since they only affect the growth stages of insects and pests rather than killing them directly. In addition, a lack of understanding of insect growth regulators, as well as the present use of traditional pesticides, may serve as limitations on the growth of the insect growth regulators market over the aforementioned period.

Report Scope:

Insect Growth Regulator (IGR) Market: Segmentation

The Insect Growth Regulator (IGR) Market is segregated based on Product, Form, and Application.

By Product, the market is classified into Chitin synthesis inhibitors, Juvenile hormone analogs and mimics, Ecdysone Antagonists, and Ecdysone Agonists. In the forecast period, the chitin synthesis inhibitors category accounted for the highest percentage of all insect growth regulators. This sector is dominated by their capacity to limit early growth in insects by inhibiting chitin production, which is crucial for exoskeleton development. Chitin synthesis inhibitors prevent the creation of new chitin by inhibiting the enzyme that catalyzes this reaction, resulting in insect mortality or slowed growth.

By Form, the market is classified into Aerosol, Liquid, and Bait. In the forecast period, the liquid was anticipated to be the largest market. They are in the form of a liquid concentrate and must be diluted before application. In severe infestations, liquid IGRs can also be utilized as a stand-alone product. Despite the fact that these are staining and leave an odor after application. They are widely utilized because of their low cost and great efficacy against severe infestations. Aerosol is expected to grow the fastest during the projected period. Aerosol insect growth regulators are more convenient to utilize than other types such as liquid or bait. They come in compact canister form for simpler applications.

By Application, the market is classified into Agriculture, Residential, and Commercial. Agricultural applications will account for the majority of the market share during the projection period. The elements that can be linked to a paradigm change as a result of increased consumer awareness are boosting demand for this market. Insect growth regulator (IGR) products are widely used in agriculture for crops such as cereals, oilseeds and pulses, fruits and vegetables, and others.

Insect Growth Regulator (IGR) Market: Regional Landscape

North America leads the global market in the forecast period. The demand in North America is mostly driven by health concerns, which have resulted in greater adoption of safer, eco-friendly alternatives to pesticides. Furthermore, new packaging, as well as product developments along with high living standards, are complementing product demand.

Over the predicted period, Asia Pacific is expected to grow the fastest. Rising demand is being driven by increased awareness of professional pest control services, an improving standard of life, an expanding middle-income class population, and increased health awareness. Several research and development efforts carried out in the region would contribute to a growing interest in IGRs among farmers, resulting in increased demand for the worldwide market.

Insect Growth Regulator (IGR) Market: Competitive Landscape

Some of the main competitors dominating the Insect Growth Regulator (IGR) Market include - Bayer AG, Central Life Sciences, OHP Inc., Syngenta AG, Dow AgroSciences LLC, HELM AGRO US, Inc., Nufarm Limited, Russell IPM, Valent U.S.A LLC, McLaughlin Gormley King Company, Sumitomo Chemical Company Limited, Control Solutions Inc.

The Insect Growth Regulator (IGR) Market is segmented as follows:

By Product

• Chitin synthesis inhibitors
• Juvenile hormone analogs and mimics
• Ecdysone Antagonists
• Ecdysone Agonists

By Form

• Aerosol
• Liquid
• Bait

By Application

• Agriculture
• Residential
• Commercial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa