The termite control market is projected to grow at a CAGR of 5.6% from 2017, to reach a value of USD 4.11 Billion by 2022
Termites are damaging to humans, livestock, and environment. Hence, various preventive and control measures to control the proliferation of termites have been driving the growth of this market, globally.
The chemical method was largely used for termite control in 2016, due to the significant demand for pyrethroids for its application rate and compatibility against a variety of termites. Subterranean termites accounted for the largest market share across all the types of termites, in 2016, owing to the higher demand in industrial and residential sectors for pre- & post-construction treatment and wooden house treatment, respectively, for these termites.
The application of termite control is estimated to be the largest in the commercial & industrial sector, due to the increasing need for professional termite control solutions, especially in the food manufacturing and hospitality sectors, so as to maintain a hygienic environment for the control of termites.
North America accounted for the largest market share in 2016, due to its significant growing demand in both commercial and residential applications. Asia-Pacific is projected to be the fastest-growing region from 2017 to 2022, due to the stringent need for commercial establishments and industrial sectors (such as food processing, food service industries, and tourism sectors) to comply with termite control regulations within their premises.
Regulations for the usage of termite control products vary from country to country depending upon the regulatory bodies of the associated countries. Even a new active ingredient or formulation, in order to be introduced in the market, has to undergo rigorous trails and tests to ascertain the eco-friendly nature of the product, which is a time-consuming process. Lack of skilled technical personnel can limit the termite control service providers from expanding.
The termite control market is a fragmented market, with a large number of domestic manufacturers, formulators, service, providers, and suppliers. Easy availability of off-patent chemicals allows the entry of many small-scale manufacturers to compete for market position. Limited research activities are conducted with respect to termiticides, except for some key players such as Bayer AG (Germany) and BASF SE (Germany). The leading players (both manufacturers and termite control service providers) were keen on acquiring to increase their client base in high-demand markets of the U.S. and Asia-Pacific.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Termite Control Market, By Species Type
7 Termite Control Market, By Control Method
8 Termite Control Market, By Application
9 Termite Control Market, By Region
10 Competitive Landscape
11 Company Profiles
- Adama Agricultural Solutions Ltd. - Agrevo Environmental Health - Amvac Chemical Corporation - BASF SE - Bayer Cropscience Ag - Control Solution Inc - DOW Chemical Company - Ecoscience - Ensystex - Envincio LLC - FMC Corporation - Micro Flo Company - Nippon Soda - Nisus Corporation - Nufarm Limited - Quali-Pro Chemicals - Quality Borate Company - Rentokil Initial PLC - Speckoz Inc - Sumitomo Chemical Co - Syngenta Ag - Termarid LLC - United Phosphorus Limited - Univar - Whitmire Micro-Gen