Termite Control Market Forecasts to 2028 – Global Analysis By Control Method (Biological Control Methods, Physical & Mechanical Control Methods), Species (Drywood Termites, Dampwood Termites), and By GeographyAccording to Stratistics MRC, the Global Termite Control Market is accounted for $4.34 billion in 2022 and is expected to reach $6.74 billion by 2028 growing at a CAGR of 7.6% during the forecast period. Termites are insects that are normally known as white-ants. They form highly organized colonies of several hundred thousand to million termites and mostly feast upon wood and damage it from the inside out. Although, termites do not carry harmful disease to humans but prolonged exposure to a place infested by termites may cause allergic reactions and asthma attacks. Various chemical, biological, physical and mechanical methods are being used to control termite infestation. Pre-construction termite control, better known as Soil Treatment, is performed in the preliminary phase of construction of a property.
According to the United States Department of Agriculture (USDA), the U.S. residents spend over USD 1 billion on termite control products. Moreover, homeowners spent on an average of about USD 3,000 on repairs caused by termites. This innovative molecular technology requires 50% less water and significantly takes less rodding time, allowing pest management professionals to improve productivity and lessen environmental impact. If all termite treatments in the U.S. were done using technology, it would save over 33 million gallons of water in one year, enough to fill 50 Olympic-sized swimming pools.
Market Dynamics:
Driver:
Increasing urbanization is contributing to market growth
The growing global population is leading to increased industrialization and escalated construction activities for commercial and residential buildings. These factors are expected to primarily drive the global market during the forecast period. Rising awareness about cleanliness, hygiene, and health risks is fueling the demand. Moreover, the rising number of Termite Control firms and service providers across all regions is predicted to add impetus to the market in the forecast period.
Restraint:
Government regulation
Various governments regulations for use of certain pesticides and limitations in access or ban of certain toxic pesticides are expected to hinder growth of the market. For instance, in Japan, heptachlor and chlordane are restricted for use in termite control, owing to its harmful effects on human health and environment. All the insecticides undergo the registration process with Central Insecticides Board & Registration Committee (CIB & RC) before its use. The constantly changing regulatory scenario and stringent registration process for pesticides inhibit market growth to a certain extent.
Opportunity:
Growing usage of service provider
Service providers are increasingly implementing smart techniques to control termites that thwart costly infestations using sustainable solutions. Advantages of provision of intelligent, digital-process based constant monitoring, instant reactive steps etc. facilitates the detection of blind spots along with round-the-clock surveillance are poised to support and create opportunity for the market growth.
Threat:
Increasing competition
Competitors in the market are proposing their services for a variety of industrial and residential applications ranging from facilities services to lawn care. Large companies by offering contractual services can attract commercial customers towards them, thereby increasing sales and profits. Hence the increasing competition is one of the factor threaten the market growth.
Impact of Covid-19
The current global outbreak of COVID-19, followed by lockdowns across several economies is impacting almost all industries. The impact of this pandemic on the market is expected to remain manageable. It may grow at a considerable pace in the forthcoming years, owing to increasing awareness and wide implementation of hygiene. Many global giants s are embarking on the launch of new services to serve their clients better during this crisis.
The Subterranean Termites segment is expected to be the largest during the forecast period
The Subterranean Termites segment is expected to be the largest during the forecast period, as they occur in more numbers and are major concern for the wooden structures. Subterranean termites pose threat to homes across 70 percent of the world. There can be as many as 1,000,000 subterranean termites per colony. The termite baits such as Advance and Hex Pro that are being used to control termites have less chemicals than the other methods which are consumer friendly.
The Biological control segment is expected to have the highest CAGR during the forecast period
The Biological control segment is expected to have the highest CAGR during the forecast period, owing to the less environmental impact of chemical compounds. The termite control service providers are using microbial products such as Bacillus thuringiensis and microbial extracts, which have been proved to be effective on termites. Biotermiticide, which is derived from fungi, bacteria or nematodes, is inserted into gallery sites. An example of a biotermiticide is BioBlast™, manufactured by EcoScience. BioBlast™ is an EPA registered wettable powder containing live spores of the insect killing fungus Metarhizium anisopliae.
Region with highest share:
North America is projected to hold the largest market share during the forecast period, owing to considerable demand for termite control services in commercial and industries sectors in the region. The residential market in North America has been witnessing growth. Further, the rise in concerns about the destruction caused by termites have, increased termite control services in this province.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, due to growing consciousness related to termite damage. Significant growth of tourism industry is fuelling the demand for hygienic stays in hospitality sector, which in turn aids growth of market in the province. Asian cities are at the forefront of growing tourism and the world’s top ten fastest growing tourism cities are all in Asia Pacific.
Key players in the market
Some of the key players profiled in the Termite Control Market include BASF SE, United Phosphorus Limited, The DOW Chemical Company, Syngenta AG, Sumitomo Chemical Co., Ltd., Rentokil Initial PLC, Nufarm Limited, Nippon Soda Co. Ltd, FMC Corporation, Control Solution Inc., Bayer Cropscience AG and Adama Agricultural Solutions Ltd.
Key Developments:
In January 2021: BASF announced that it started the global registration of an insecticide active ingredient. The company submitted the regulatory dossiers for the Axalion insecticide in Australia and Korea. It is positioning itself in providing sustainable innovations for agriculture.
In February 2021: FMC Corporation collaborated with Novozymes to co-develop enzyme solutions as crop protection solutions that target fungal and insect pests.
In March 2021: Bayer launched Vynyty Citrus, a biological and pheromone-based crop protection product, which will control pests on citrus farms. Vynyty Citrus is a container with an active liquid inside. It is the only product in the market that is formulated with pheromones and natural pyrethrum to control pests in citrus fruits. Pheromones control pests by interfering with their mating behaviour’s and hence prevent their reproduction.
Control Methods Covered:
• Biological Control Methods
• Physical & Mechanical Control Methods
• Chemical Control Methods
• Other Control Methods
Species Covered:
• Drywood Termites
• Dampwood Termites
• Subterranean Termites
• Other Species
Applications Covered:
• Agriculture & Livestock Farms
• Commercial & Industrial
• Residential
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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