Cyromazine Market Size, Status And Growth And Precise Outlook 2027

Cyromazine is an insect growth regulator (IGR) and is a cyclopropyl & an aminotriazine derivative of melamine. Cyromazine finds application in animal healthcare and agriculture. Cyromazine and other IGRs interfere with the life cycle of insects by acting on the hormonal control of development. IGRs interfere with normal progress and growth of the insect, resulting in an insect’s mortality before it reaches adulthood.

Among applications, crop protection segment accounted for the largest revenue share of 78.4% in the global cyromazine market in 2017. There is high demand for insect growth regulators such as cyromazine in the agriculture industry, to protect crops from insects and thereby improve agriculture production. According to the statistical data of Food and Agriculture Organization (FAO), insecticide use was around 60.6 thousand tons by Brazil alone in 2016.

Among regions, North America held significant market share in the global cyromazine market in 2017, owing to increasing household income of the populace in the region, which in turn increases buying power and thus the demand for food. According to Peter G. Peterson Foundation’s news published in September 2018, the median household income of the U.S. increased from US$ 60,309 in 2016 to US$ 61,372 in 2017. Rising income levels in the U.S. is boosting demand for agriculture and food products. Therefore, increasing demand for food will pose a need to maximize agriculture output and usage of insect growth regulators in the agriculture sector. This in turn is expected to be a key driver for growth of the cyromazine market over the forecast period.

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Among application, crop protection segment is gaining traction in the market, owing to increasing need for pest control in agriculture. For instance, according to Coherent Market Insights’ analysis, the global pest control services market was valued around US$ 16.18 billion in 2017. Cyromazine insect growth regulator possess various advantages such as low toxicity and lesser impact on human health, and long-term effect, which are expected to moderately impact growth of the global cyromazine market.

Asia Pacific held a significant market share in 2017 due to substantial demand for cyromazine from China, India, South Korea, and Japan. Rising demand for agrochemicals, owing to increasing population increases demand for agricultural products, thereby aiding in growth of the cyromazine market. For instance, according to India Brand Equity Foundation (IBEF), in 2015, the agrochemical market in India is expected to grow with a growing domestic demand of 6.5% per annum, to reach US$ 6.3 billion by 2020.

Detailed Segmentation:

Global Cyromazine Market, By Application:
Crop Protection
Veterinary Medicines

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Major players operating in the global cyromazine market include Syngenta AG, ADAMA Agricultural Solutions Ltd., Elanco Animal Health Inc., Jurox Pty Limited., Arysta LifeScience Corporation, Lasa Supergenerics Limited, Orion AgriScience Limited, Topsen Biotech Co. Ltd., Shandong Luxi Animal Medicine Share Co., Ltd., Bayer AG, and Toronto Research Chemicals Inc.

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This release was published on openPR.