Termite control market

Termite Control Market, By Species Type (Dry wood Termites, Damp wood Termites, Subterranean Termites, Formosan Termites, and Others), By Control Methods (Physical & Mechanical Control Methods, Chemical Control Methods, Biological Control Methods, and Others), By Application (Residential, Commercial & Industrial, Agriculture & Livestock Farms, and Others), By Region (North America, Latin America, Europe, Middle East, Africa, Asia Pacific)

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Mar 2023
CMI1019
170 Pages
Excel & Pdf
Specialty and Fine Chemicals

Summary

The global termite control market is valued at US$ 4,159.2 Mn in 2022, and it is anticipated to attain a value of US$ 6,778.6 Mn by 2030, at a CAGR of 6.30% over the forecast period (2023 - 2030). Termites are insects that are commonly 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 diseases to humans prolonged exposure to a place infested by termites may cause allergic reactions and asthma attacks. Termites mainly feed on cellulose and dead plant material that is usually in the form of leaf litter, wood, and soil. Termites damage buildings, food crops, wooden materials, and others. Various chemical, biological, physical, and mechanical methods are being used to control termite infestation. Supportive government initiatives are a major factor fuelling the growth of the termite control market. For instance, the Environmental Protection Agency (EPA) in the U.S. encourages termite prevention through various awareness programs and has implemented stringent standards for the registration and use of termite control products.

Global Termite Control Market- Impact of Coronavirus (Covid-19) Pandemic

Governments all over the world were forced to implement strict lockdown and social isolation measures as a result of the COVID-19 pandemic. For the purpose of halting the spread of the viral disease, a number of pesticide manufacturing companies were forced to temporarily close their facilities. Additionally, this led to significant losses in the pest control industry. However, once the constraints are lifted during the post-COVID-19 period, the market is anticipated to resume its upward trajectory.

Global Termite Control Market – Growth Drivers

Supportive government initiatives

The Environmental Protection Agency in the U.S. encourages termite prevention through various awareness programs and has implemented stringent standards for the registration and use of termite control products. For instance, Pest/Vector control Industry in India, Attention on pest and vector control gained attention in recent times with larger scale economic losses and increasing debility with vector borne diseases in the country. In India, pest control market has seen exceptional growth at approximately 22% in the last few years.

Using biological control techniques

Rising demand for biological control methods using biotermiticides is expected to fuel market growth of termite control over the forecast period. In addition to this, increasing awareness regarding the adverse effects of termites is propelling the global demand for termite control services. Furthermore, growing demand for hygienic stay in the hospitality sector from tourists and stringent good manufacturing practices (GMP), ensuring zero tolerance to pests in the pharmaceutical sector, are some of the key factors largely contributing to overall growth of this market.

Global Termite Control Market – Restraints

Toxic Pesticide products

However, various government regulations for use of certain pesticides and limitations on access or the ban of certain toxic pesticides is expected to hinder the growth of the market. For instance, in Japan, heptachlor and chlordane are restricted for use in termite control, owing to their harmful effects on human health and the environment.

Based on the product, the global market segments for this particular market include by type, by control method, by regions, and applications. By applications the global termite market projects the market growth of commercials, residential, agriculture, and industrial. The commercial segment dominated the commercial sector in 2022. The industrial application segment accounted for a lower share of the market in 2022 but is estimated to grow at a faster rate during the forecast period. Based on geography, the market segments include North America, Europe, Asia Pacific, Latin America, Middle east, Africaand rest of the world.

Figure 1. Global Termite Control Market (%), By Region

Global Termite Control Market – Recent Developments

In April 2019, Terminix and a ServiceMaster company has launched Terminix Tick Defend System. It is an integrated pest management system (IPE) that helps to protect homes and yards from termites and other infections
In May 2021, Anticimex Group, one of the leading pest control companies globally, announced its acquisition of the Palmera Junior, a family-owned company based in Colombia, with an impressive growth history. Anticimex made the first strategic acquisition in Latin America and marked the starting point for an expansion strategy in this fast-growing market.
In January 2021, Rentokil Initial plc, the world’s leading commercial pest control services provider, announced the acquisition of Environmental Pest Services ('EPS'), a full-service residential and commercial pest control company based in Tampa, Florida. This acquisition will help Rentokil Initial plc. in their strategy to acquire pest control businesses that build customer density and strengthen their reach in key local markets.
In January 2021, Rentokil Initial plc, the world’s leading commercial pest control services provider, announced the acquisition of Environmental Pest Services ('EPS'), a full-service residential and commercial pest control company based in Tampa, Florida. This acquisition will help Rentokil Initial plc. in their strategy to acquire pest control businesses that build customer density and strengthen their reach in key local markets.

Termite Control Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 4,159.2 Mn
Historical Data for:	2017 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	6.30 %	2030 Value Projection:	US$ 6,778.6 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Species type: Dry wood Termites, Subterranean Termites, Damp wood Termites, Others By Application: Residential, Agriculture and Livestock farm, Commercial and Industrial, Others By Control Method: Physical & Mechanical Control Methods, Biological Control Method, Chemical Control Method, Others
Companies covered:	BASF SE, Bayer AG, The DOW Chemical Company, Sumitomo Chemical Co., Ltd., FMC Corporation, United Phosphorus Ltd, Nufarm Limited, Nippon Soda Co. Ltd, Rentokil Initial PLC, Adama Agricultural Solutions Ltd., and Ensystex.
Growth Drivers:	Supportive government initiatives Using biological control techniques
Restraints & Challenges:	Toxic Pesticide products

Global Termite Control Market – Regional Insights

North America market held a dominant position in the global termite control market in 2022. Increasing demand for termite control products from commercial and industrial sectors such as food service and food processing industries is a major factor propelling the growth of the market in the region. In addition to this wood is extensively used in the construction of residential and non-residential buildings in North America, as it is cost-effective, has seismic resistance properties, and aids in faster construction. This in turn supports the growth of the termite control market in the region as termites mostly feast upon the wood.

Figure 2. Global Termite Control Market (%), By Application

Asia Pacific is expected to project the fastest growth in the global termite control market over the forecast period, witnessing the highest CAGR among all. In addition to this, growing tourism in the region is fuelling the demand for hygienic stays in the hospitality sector among tourists. This factor is largely propelling the demand for termite services in the region.

Global Termite Control Market – Key Players

BASF SE, Bayer AG, The DOW Chemical Company, Sumitomo Chemical Co., Ltd., FMC Corporation, United Phosphorus Ltd, Nufarm Limited, Nippon Soda Co. Ltd, Rentokil Initial PLC, Adama Agricultural Solutions Ltd., and Ensystex.

Definition : Termites are insects that are commonly 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 does not carry harmful disease to humans but prolonged exposure to a place infested by termites may cause allergic reactions and asthma attacks.

Table of Content

Table of Contents

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Segmentation

- Frequently Asked Questions -

What are the growth estimates for Global termite control market till 2030?

The global termite control market is estimated to surpass US$ 6,778.6 Mn by 2030.

Which are the prominent market players across the globe?

Major players operating in the global termite control market include BASF SE, Bayer AG, The DOW Chemical Company, Sumitomo Chemical Co., Ltd., FMC Corporation, United Phosphorus Ltd, Nufarm Limited, Nippon Soda Co. Ltd, Rentokil Initial PLC, Adama Agricultural Solutions Ltd., and Ensystex.

What are the key factors hampering growth of the market?

Various government regulations for use of certain pesticides and limitations in access or ban of certain toxic pesticides are some of the major factors that are expected to hamper the growth of the market over the forecast period.

What are the key factors driving growth of the market?

Rising demand for biological control methods using biotermiticides is expected to fuel market growth of market. That is expected to propel the growth of the market over the forecast period.

What is the Compound Annual Growth Rate (CAGR) of the market for forecast period?

The market is estimated to exhibit a CAGR of 6.30% during the forecast period (2023-2030).

Which region is dominating the market growth?

Among regions, North America market held a dominant position in the market, in 2022.