Insect growth regulators (IGRs) act by interrupting the reproductive cycle of an insect. They inhibit the larvae from attaining adult stage. Insects have an external skeleton known as exoskeleton. As the life cycle of the pest advances and reaches the molting stage, a new skeleton develops inside the old exoskeleton, which is shed later. Different types of insect growth regulators act at this stage by releasing a hormone, which prevents the pest from developing further. IGRs have a long residual activity but are slow in terms of delivering immediate effects as they do not kill the pest instantly. They are more compatible for use along with other pest management systems that involve biological controls.
Insect growth regulators market is expected to witness a significant growth in the coming years on account of increasing product requirement in application areas such as agriculture, residential, and commercial. In agriculture, IGRs are used in case of livestock as well as farming by farmers, home gardeners, landscapers, and horticulturalists. Commercial users of the product include government bodies and several other pest management professionals, who entail the use of IGRs for controlling infestations from ticks, mosquitoes, fleas, and flies.
Commercial application, including public insect control programs conducted by various governments, is anticipated to witness the fastest growth rate over the forecast period. Governments in different regions are increasingly adopting IGRs to prevent the spread of mosquito-borne diseases such as malaria, zika fever, dengue fever, Everglades virus, West Nile fever, and La Crosse encephalitis. Product application is expected to witness growth in the coming years owing to its high-performance efficiency.
Major raw materials utilised in the manufacturing process of IGRs includes methoprene, hydroprene, diflubenzuron and pyriproxyfen. BOC Sciences, Sigma-Aldrich Company LLC, Acade Chemical Co., Ltd., Rosewachem Co., Ltd. and others are the major raw material suppliers included in the value chain.
As large manufacturers are trying to manage their production costs, integration across the value chain, including backward and forward integration, is expected to become a crucial element over the forecast period. Sumitomo Chemical is integrated across the value chain as it manufactures and distributes insect growth regulators, insecticides, pesticides, and other crop protection products through its integrated network of distributors spread across the globe.
Factors such as strong relationships between manufacturers & suppliers and tie-ups at multiple distribution levels are anticipated to be critical factors for companies to gain a competitive advantage over the forecast period. Integration across the manufacturing of raw materials and direct distribution helps reduce the cost of individual segments in the value chain, which is a key factor for a surge in profits.
The prevalence of integrated pest management programs in agriculture is growing in developed countries. The program is aimed at controlling pest population and lowering it down to the economic injury level. The program supports incorporation of eco-friendly pest population control mechanisms, thereby resulting in huge demand for IGRs.
In-depth report on global insect growth regulators market by Grand View Research:
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