Global termite control market was valued at US$ 3,276.91 Million in 2016, according to Global Termite Control Market by Species Type (Drywood Termites, Dampwood 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) published by Coherent Market Insights. The termite control market is expected to register a CAGR of 5.7% over the forecast period (2017–2025) to reach US$ 5368.78 Million by 2025.
Major factors propelling growth of the termite control market include growing demand for these services from tourism and hospitality sectors. Furthermore, biological control method segment is expected to exhibit fastest growth over the forecast period, due to increasing environmental concerns regarding use of toxic chemicals in pesticides such as methyl iodide, chlorpyrifos and sulfoxaflor. Biotermiticides such as BioBlast, have low environmental impact as, they are derived from bacteria or fungi and contain no chemical compound. In addition to this, rising demand for hygienic stays in the hospitality sector among tourists is also propelling growth of residential application of termite control.
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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.
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