The global cyromazine market was valued at US$ 1.27 Mn in 2017, according to Cyromazine Market Report, by Application (Crop Protection and Veterinary Medicines) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
The global cyromazine market is projected to reach US$ 2.18 Mn by 2026, exhibiting a CAGR of 6.03% during the forecast period. Increasing population, rising demand for food and agriculture products, which results in growing usage of insect growth regulators in the agriculture industry, in order to increase crop yields are major factors driving growth of the market. According to the USDA Agricultural Projections to 2027 report published in February 2018, the world consumption of oilseeds is projected to rise 25.5 percent over the next decade, compared with 11.7% for coarse grains, 10.6% for wheat, and 7.5% for rice. Therefore, growth of agricultural sector is expected to increase demand for insect regulators for crop protection, which in turn is expected to drive growth of the cyromazine market.
However, cyromazine’s effect on the developing stages of arthropods and insects, and not in later stages, and slow-acting impact of cyromazine are expected to restrain growth of the cyromazine market.
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Key Trends and Analysis of the Cyromazine Market:
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