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Cyromazine Market

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The global cyromazine market was valued at US$ 1.27 million in 2017 and is expected to register a CAGR of 6.03% in terms of revenue over the forecast period (2019 – 2026), to reach US$ 2.18 million by 2026.
Cyromazine Market: An Overview To The Future
Opportunities Over The Global
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.
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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.
However, the slow-acting impact of cyromazine and availability of substitutes to cyromazine
such as methoprene are expected to restrain the market growth. Furthermore, the development
of resistance towards insect growth regulators is expected to be one of the major challenges
restraining the market growth.
The global cyromazine market was valued at US$ 1.27 million in 2017 and is expected to
register a CAGR of 6.03% in terms of revenue over the forecast period (2019 – 2026), to
reach US$ 2.18 million by 2026.
Asia Pacific is the fastest growing region and accounted for the largest market share of 37.2% in
2017, owing to growing agricultural industry in economies such as India in this region. According
to India Brand Equity Foundation report on Agriculture and Allied Industries published in May
2018, food grain production was 279.51 million tons in India during crop year of 2017-2018. The
report also states that there is a rising demand for Indian food and agricultural products in the
international market. The total agricultural exports from India witnessed a CAGR of 16.45% over
FY10-18 to reach US$ 38.21 billion in FY18. In April 2018, agriculture exports was US$ 3.15
billion. Therefore, growth of agricultural industry is expected to increase crop protection
solutions, which in turn is expected to propel demand for cyromazine insecticides.
Companies are adopting inorganic growth strategies such as mergers & acquisitions, in order to
increase its market share. For instance, in June 2018, Bayer successfully completed the
acquisition of Monsanto, which will help Bayer to strengthen its agricultural division by providing
more productive and sustainable agricultural solutions.
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Players operating in the global cyromazine market are adopting various growth strategies to
cater to increasing demand for cyromazine. For instance, in December 2017, ADAMA and
ALRISE Biosystems signed an R&D agreement, in order to develop highly effective and
sustainable crop protection products for farmers with a lower dose of active ingredients.
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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