In a recent published report, Kenneth Research has updated the market report for Insect Growth Regulators Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Insect Growth Regulators Market products.
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The global Insect Growth Regulatorwas valued at USD 736.3million in 2016 and is projected to reach USD 1376.6millionby 2025, growing at a CAGR of 7.20% from 2017 to 2025.
Insect growth regulators are chemical substances that inhibit the growth of insects or pests that bring harm to the crops. The losses resulting from pest infestation is expected to boost market demand. However, rising concerns surrounding use of chemicals in agriculture is expected to hamper sales.
1. Market Drivers
1.1 Adoption of environmentally safe crop products
1.2 Rise in application scope of insect growth controllers.
2. Market Restraints
2.1 Effective only in initial stage
2.2 Less effective as a stand alone control method
The global Insect Growth Regulator market is segmented on the type, form, application, and region.
1. By Type:
1.1 Juvenile Hormone Analogs and Mimics
1.2 Chitin Synthesis Inhibitors
1.3 Anti-Juvenile Hormone Agents
2. By Form:
3. By Application:
3.1 Livestock Pest
3.2 Agricultural Applications
3.3 Commercial Pest Control
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Bayer Cropscience AG
2. Russel IPM Ltd.
3. DOW Chemical Company
4. Valent U.S.A Corporation
5. Sumitomo Chemical Company
6. Central Gardens and Pets Co.
7. Syngenta AG
8. Platform Specialty Products Corporation
9. Nufarm Limited
10. Adam Agricultural Solutions Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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