Today: August 15, 2018, 9:28 pm

Termite Control Market Industry Insights and Forecast 2025

The termite control market was valued at US$ 3,276.91 million in 2016 and is expected to expand at a CAGR of 5.7%, in terms of revenue, over the forecast period (2017-2025).
Termite Control Market
Termite Control Market 2018-04-16 16:13:08
Termites mainly feed on cellulose and dead plant material, usually in the form of leaf litter, wood, and soil. Termite infestation can lead to major damage to buildings, food crops, and in turn humans. Thus, various control methods such as chemical control, biological control, and physical & mechanical control methods are being used to control termite infestation. Supportive government initiatives is a major factor fueling market growth. For instance, the Environmental Protection Agency (EPA) in the U.S. encourages termite prevention through various awareness programs and has implemented stringent standards for registration and use of termite control products.

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The subterranean termites segment accounted for the largest market share in 2016. This is attributed to high concentration of these termites, with as many as over two million termites in a single colony, making these the most destructive termite species. Chemical control method is most widely used in controlling termite infestation, as it provides fast elimination and highly effective, with pyrethroids being the most preferred pesticide. In addition to this, chemicals such as chlorinated hydrocarbons, phenylpyrazole, chloronicotinyls, borates, trifluoromethyl aminohydrazones, and pyrroles are also used in this method.

North America is the most dominant region in global termite control market and the region was valued at US$ 1,165.79 million in 2016. This is attributed to increasing demand from commercial and industrial sectors such as food service and food processing industries, for termite control services. The Pest Management Regulatory Agency of Health Canada (PMRA), regulates the Pest Control Products Act (PCPA), in various sectors including Food Residue Exposure Assessment Section (FREAS), which evaluates cases, where these services can affect the human health due to their contact with field crops, meat and dairy products and processed food. Furthermore, global organizations including The U.S. Department of Agriculture (USDA) actively focuses on termite research and control programs and also publishes news related to termite control for creating awareness among the general public. It actively funds research on subterranean termites at the Louisiana State University.

Asia Pacific is expected to be the fastest growing region in global termite control market, in terms of revenue, over the forecast period. Increasing awareness related to damage caused by termites and growing tourism sector are some factors expected to positively affect growth of the market. Rising tourism, is fuelling the demand for hygienic stays in hospitality sector and thereby, aiding to the growth of termite control market at high pace, in the region. According to the data provided by the World Travel & Tourism Council in October 2017, Asian cities are at the forefront of growing tourism and the world’s top ten fastest growing tourism cities including Chongqing, Guangzhou, Shanghai, Beijing, Chengdu, Manila, Delhi, Shenzhen, Kuala Lumpur and Jakarta are all in Asia Pacific.

However, various governments are implementing regulations for use of certain pesticides and limiting the availability of toxic pesticides, either by restricting its use or banning a product completely. For instance, in Japan, heptachlor and chlordane are restricted for use in termite control owing to its harmful effects on human health and environment. This in turn, propelling the demand for biotermiticides, as they are derived from bacteria or fungi and have less environmental impact. In addition to this According to Indian Pest Control Association — a non-profit trade association of professional pest management companies in India — the Insecticides Act aids in regulating the import, registration process, manufacturing, and use of insecticides in order to prevent risk to animals and human beings. 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.

The termite control market was valued at US$ 3,276.91 million in 2016 and is expected to expand at a CAGR of 5.7%, in terms of revenue, over the forecast period (2017–2025).

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North America accounted for a revenue share of 35.58% in 2016, in global termite control market. Development of novel technologies for controlling termite infestation is a major factor influencing growth of the termite control market. One such technological innovation was the launch of automatic cold fogging machine at the Pest Summit 2016 to control pest and termites. Moreover, operating constraints such as time constraints and scheduling conflicts and stringent regulatory clearance and lengthy approval procedure are some of restraining factors for the market growth.

Major Players in the Global Termite Control Market

Key players are adopting various strategies such as mergers and acquisitions, joint ventures, partnerships, and product innovations to ensure their long-term sustenance in this market. In 2017, Arrow Exterminating Company, Inc. acquired Bugmaster Exterminators-U.S.-based company that specializes in commercial and residential termite control-to expand its presence in residential and commercial sectors by offering a full line of service.

Some of the key players in global termite control market are 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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