Termite Bait Products Gaining Traction as a No Chemical, Environmental Friendly Alternatives against Termite Infestation: Fact.MR

- Wide range of products and service portfolios along with prompt maintenance by skilled technician drives the market growth

NEW YORK, May 19, 2021 /PRNewswire/ -- As per the study by Fact MR, the global termite bait products market is forecast to grow at 5% CAGR over the duration 2021 to 2031. According to the study, termites destroy billions of dollars of property annually across the globe. Subterranean termites inflict the maximum damage nearly 85% of total damage. Surging demand for termite infestation management is fueling the termite bait products market growth. Extensive research and development towards development of highly efficient and less invasive termite bait products will further assist in market expansion over the forecast period.

According to a report published by the UNESCO, termite infestation led to collapse of various houses in World heritage site "ITCHAN KALA" in Uzbekistan. Such incidences are promoting manufacturers towards developing new techniques like three bait toxicants and durable the termite bait products especially against subterranean termites.

 "Termite bait system products are finding applications in residential and commercial areas as a preventive measure against termite infestation. This opened the door towards development of advance and eco-friendly termite bait systems and soil-applied liquid insecticide", said a lead analyst at Fact.MR.

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Key Takeaways

• The global termite bait products market is forecast to reach the valuation of US$ 2.8 Mn by the end of forecast period (2021-2031).
• The global termite bait products market is also expected to grow by 1.5 times by the end of 2031.
• US boasts the biggest market for termite bait products as it houses the largest wooden industry in the world along with customer exhibiting increased spending on termite bait products.
• China faces huge property damage due to termite infestation providing a lucrative opportunity for termite bait products market expansion.
• India is increasing investment in termite bait products to curb the termite caused crop damage, leading to termite bait products market growth.

Prominent Drivers

• Termite bait products being human and environment friendly and highly durable are positively influencing the market growth.
• Migration of termites to higher altitudes due to global warming is leading to high termite infestations in high altitude regions, boosting the market demand.
• Easy installation and maintenance procedure of termite bait products will elevate the market growth.

Key Restraints

• Lofty installation cost and frequent need of monitoring and maintenance restraints the market growth.
• Unfamiliarity of termite bait products especially in Asian countries is also restricting the adoption of the products.
• Dominance of chemical liquid barriers and slow results of termite bait products hampers the market growth.

Discover more about the termite bait products market with 105 figures and 112 data tables, along with the table of contents. https://www.factmr.com/report/termite-bait-products-market     

Competitive Landscape

Leading players operating in termite bait products market profiled by Fact.MR are BASE SE, Dow, PCT International, Sbm Life Science Corp., Sumitomo Chemicals LTD. Bayer AG, Ensystex, Rentokil Initial PLC, Spectrum Brand INC., Syngenta and others. The main agenda among the market players is deepening the penetration across potential and new markets. They are employing organic and inorganic marketing strategies to achieve the goal. Rise in strategic merger and acquisition is also observed followed by new product launches.

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More Valuable Insights on termite bait products market

Fact.MR, in its new report, offers an unbiased analysis of the global termite bait products market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in termite bait products market on the basis of termite type (Subterranean, Dampwood, Drywood), Bait (Bait Devices, Liquid Eradication Method), station (In-ground, Above Ground), Application (Commercial & Industrial, Residential, Agriculture & Livestock) across regions (North America, Latin America, Europe, South Asia, East Asia, MEA).

Key Questions Covered in the Report

• Which factor will be the most crucial for termite bait products market?
• What is likely to be the future outlook of termite bait products market?
• What are the key drivers and restraints for termite bait products market?
• Which region has the highest growth rate in termite bait products market?
• Which are the leading players operating in termite bait products market?

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