High spending capabilities of North Americans on pet care and health products has kept the market for insect growth regulators on a steady growth category. Another attractive region for the growth of insect growth regulators market is MEA. Despite a low market share, demand for insect growth regulators is expected to grow in this region during the forecast period.
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This is fueled by a rise in epidemics. Advanced formulations carried out by companies’ increases the cost of insect growth regulators but stable economic condition offsets the price rise. The presence of prominent companies in the region also provides a small decrease in price due to reduced costs of logistics.
The market in North America for insect growth regulators will create an incremental opportunity of around US$ 65 Mn between 2019-2027. The APEJ region is expected to witness a stable demand for insect growth regulators during the forecast period (2019-2027).
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Companies Entering into Strategic Partnerships to Leverage Mutual Strengths
Major chemical companies are venturing into the insect growth regulators market with product offerings ranging from traditional chitin synthesis inhibitors to novel anti-juvenile hormone agents. Key players in the insect growth regulators market include Bayer Crop Science AG, Dow Chemicals Company, Syngenta AG, and Sumitomo Chemicals
Many small scale companies have started their operations in various regions such as China, India, and Brazil, etc. where they are manufacturing insect growth regulators with hundreds of different formulations, which have different selectivity for a range of insects and show varied results depending upon the species of insects the products are used on.
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The Insect Growth Regulators market report answers important questions which include:
- What does the status of the Insect Growth Regulators market look like after the forecast period?
- Which region has the highest contribution to the global Insect Growth Regulators market and why?
- Which players remain at the top of the global Insect Growth Regulators market?
- What opportunities are available for the Insect Growth Regulators market players to expand their production footprint?
- Which segment has the maximum impact on the global Insect Growth Regulators market?
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