Termite Control Market- - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

Termites belong to a class of insects, phylum Arthoropode and order Isoptera. Over 2,000 different type species of termites are found globally with distinct scientific names. Termites feed on cellulose (an organic fiber found in food), paper, and drywall. They are destructive pest, and can cause damage to property such as building or house foundation, shelves, furniture, and even books. According to Center Of Disease Control And Prevention, subterranean termite is the most destructive termite in the U.S, which causes more property damage than that caused by windstorm and fire combined.

Major drivers propelling growth of termite control market includes increasing awareness about destructive effects of termites such as damaged caused to buildings and infrastructure. Moreover, stringent regulations by governments for instance U.S Environmental Protection Agency (EPA), should have to review studies on pesticides that it will not pose any risk to the environment and to the human health. Further, According to Centre for Disease Control and Prevention (CDC), The National Institute for Occupational Safety and Health (NIOSH) conducted many test on termite applicators (Cholopyrifos Exposure), plays an important role in termite extermination and pest management efforts.

North America is the leading region in the termite control market, exhibiting a CAGR of 4.1% over the forecast period (2017–2025). Increasing pest control services in the U.S. is driving growth of the market for termite control. According to CMI, there are approximately 27,000 different types of pest control businesses operating in the U.S. Some of the major players in the U.S. pest control industry include Rentokil, Terminix, Orkin, and Ecolab. Asia Pacific is the second largest market in the termite control, exhibiting a CAGR of 7.8% over the forecast period, and expected to be valued at US$ 1,723.9 Mn by 2025.

Subterranean termite species accounts for major market share among species type segment. Subterranean termites are found in almost all states of the U.S. Subterranean termites live in soil, and their nest is connected via mud tubes to sources of their food such as timbers in house, trees, and walls. Drywood termites do not require contact with soil, as requires by subterranean. They feed on wood and can cause significant damage to homes. They typically cause less damage than subterranean. On the basis of termite control methods, chemical termite control method segment dominated the market in 2016. The biological control method segment is expected to be the fastest growing segment during the forecast period. This can be attributes to rising awareness about adverse effects of harmful chemicals and strict government regulations.

Figure 1. Global Termite Control Market Share, By Region, 2016

termite control market

SOURCE: COHERENT MARKET INSIGHTS (2017)

North America was the dominant region in 2016 followed by Asia Pacific and Europe. North America accounted for 35.58% market share for the same year and exhibiting a CAGR of 4.1% over the forecast period. Asia Pacific is the fastest growing termite control market, and is expected to be valued at US$ 1,723.9 Mn by 2025 and increasing at a CAGR of 7.8% over the forecast period.

Major Players in the 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, which specializes in commercial and residential termite control, based in Houston, Texas.

Some of the major players in the termite control market include The Dow Chemical Company, Syngenta AG, BASF SE, Bayer CropScience AG, FMC Corporation, United Phosphorus Limited, ADAMA Agricultural Solutions Ltd., and Control Solution Kft.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.