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Termite Control Market Analysis With Key Players, Applications, Trends And Forecast To 2033
Termite Control Market Analysis
The Business Research Company offers in-depth market insights through Termite Control Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The termite control market size has grown strongly in recent years. It will grow from $5.16 billion in 2023 to $5.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rise in professional pest control services, chemical treatment advancements, development of baiting systems, climate and weather influence, awareness and education initiatives.
The termite control market size is expected to see strong growth in the next few years. It will grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to expansion of professional services, development of targeted treatments, integration of pest management programs, expansion in construction industry, stringent regulatory requirements. Major trends in the forecast period include demand in construction industry, environmentally friendly solutions, advanced treatment technologies, rise in urbanization, climate change impact.
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Market Segmentation:
The termite control market covered in this report is segmented -
1) By Type: Chemical Termite Control, Physical And Mechanical Termite Control, Biological Termite Control
2) By Species Type: Dampwood Termites, Subterranean Termites, Drywood Termites, Other Species Types
3) By Application: Commercial And Industrial Sector, Residential Sector, Agriculture And Livestock Farms, Other Applications
Major Driver - Termite Control Market Expands With Increasing Demand For Infestation Prevention In Building Infrastructure
Growing construction industry is significantly contributing to the growth of the termite control market going forward. The construction industry refers to the area of business and manufacturing that is concerned with building, preserving, and fixing infrastructure. Termite control is employed in the construction industry to prevent and control termite infestation in buildings which ruins the building infrastructure and deteriorate the quality of construction. For instance, according to a 2022 report published by the Bureau of Economic Analysis (BEA) a US-based government organization that provides official macroeconomic and industry statistics, the size of the US construction industry increased from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022. Therefore, the growing construction industry will drive the market.
Competitive Landscape:
Major companies operating in the termite control market report are Adama Agricultural Solutions Ltd., BASF SE, Bayer CropScience AG, Control Solutions Inc., Ensystex Inc., FMC Corporation, Nippon Soda Co. Ltd., Nufarm Limited, Rentokil Initial plc, Syngenta AG, The Dow Chemical Company, UPL Limited, Annex Integrated Management Private Limited, Anticimex AB, Aptive Environmental LLC, Pelsis Ltd., Home Paramount Pest Control Inc., Rollins Inc., The Terminix International Company LP, Arrow Exterminators Inc., Ecolab Inc., Massey Services Inc., Western Exterminator Company, Orkin LLC, McCloud Co., Rose Exterminator Co., Plunkett's Pest Control Inc., ABC Home & Commercial Services Inc., Cook's Pest Control Inc., Northwest Exterminating Co. Inc.
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Top Trend - Revolutionizing Termite Control Groupe Berkem Introduces Novaterm A Dual Innovation With Smart Trap Systems And Synerkem Technology
Product innovations are the key trend gaining popularity in the termite control market. Major companies operating in the termite control market are focusing on integrating new technologies and methodologies to improve termite control applications. For instance, in October 2023, Groupe Berkem, a France-based chemical manufacturing company launched Novaterm. Novaterm was created exclusively for termite control specialists. This new product is a twofold innovation in the field of trap systems: first, it gives termite control professionals more autonomy and productivity through a smartphone application that allows them to plan their trips more efficiently and regulate the number of traps and biocides they have to keep track of. Second, Groupe Berkem's Synerkem technology-a plant-based booster-is included in Novaterm, ensuring the same degree of performance while drastically lowering the formulation's use for traditional biocides.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Termite Control Market Characteristics
3. Termite Control Market Trends And Strategies
4. Termite Control Market - Macro Economic Scenario
5. Termite Control Market Size And Growth
…..
27. Termite Control Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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