Termite Control Market Size to Grow at a CAGR of 5.60% in the Forecast Period of 2023-2028

Termite Control Market Size to Grow at a CAGR of 5.60% in the Forecast Period of 2023-2028

August 23, 2023

The ‘Global Termite Control Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global termite control market, assessing the market on the basis of its segments like species types, control methods, applications, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.

Termite Control Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

• Historical Market Size (2022): Around USD 4.27 Billion
• Forecast CAGR (2023-2028): 5.60%
• Forecast Market Size (2028): Nearly USD 5.9 Billion

A major factor driving the global termite control market is the growing prevalence of subterranean termites across the world. They can damage structures made from wood extensively, which drives the demand for an effective termite control treatment. Homeowners prefer professional services to eradicate or control termite infestations and implement effective treatment solutions. Some of the common products involved in the eradication of termites include liquid termiticide, barrier systems, and baits.

Another factor that drives the global termite control market is the increasing usage of chemical treatments for termite control. Chemical formulations are widely available and preferred by professionals due to their cost-effectiveness and efficiency. Besides, chemical termiticides provide long-lasting effects and ease of applicability, which further boosts their demand among termite control service providers.

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Climate change and global warming are also expected to have a considerable impact on the global termite control market owing to the surging risk of termites caused by fluctuating temperature conditions. With the climate becoming more arid and drier, termite activities are expected to significantly increase, boosting the market in the coming years.

The increasing population in the cities is also expected to fuel the market due to surging construction activities. New construction and renovation activities are driving the demand for termite treatment methods that can be performed pre-construction or post-construction. Furthermore, rapid urbanisation can increase termite activities, further boosting the demand for termite control.

There is a growing usage of wood and cellulose-based materials in construction activities. This further calls for the incorporation of effective treatment methods to reduce the damage and control termite growth. Moreover, the implementation of best practices such as the usage of concrete slabs as physical barriers to hinder the entrance of termites is driving the market.

Termite Control Industry Definition and Major Segments

Termite control is the process of preventing and eliminating termite infestation from residential buildings, commercial spaces, warehouses, factories, among other infrastructural buildings. The termite control treatment can be carried out pre-construction or post-construction using chemicals, biological methods, physical barriers, and baits to ensure there is minimal damage to the structure.

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On the basis of species type, the market is classified into:

• Dampwood Termites
• Subterranean Termites
• Drywood Termites
• Others

Based on control method, the termite control market is segmented into:

• Chemical
• Physical and Mechanical
• Biological
• Others

On the basis of application, the market is categorised into:

• Commercial and Industrial Sector
• Residential Sector
• Agriculture and Livestock Farms
• Others

Based on region, the market is divided into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Termite Control Market Trends

A key trend propelling the growth of the global termite control market is increased industrial activities such as the construction of warehouses. Warehouses can provide a hospitable environment for termite growth in storages due to abundant moisture and proper sheltering. This is boosting the demand for effective termite control methods to minimise the damage and reduce the risk of infestation.

The growing environmental awareness is another crucial trend that affects the global termite control market. Consumers are becoming more aware of the environmental risks due to the usage of harmful chemicals and foams, driving the demand for eco-friendly products. Furthermore, players are developing green solutions for termite controls, which is likely to support the market in the coming years.

Several government agencies have been taking strict measures to regulate the usage of pesticides, insecticides, and termiticides, among others, to reduce overall environmental risks. This has led to the incorporation of sustainable practices, research into innovative treatment measures, and increased production of eco-friendly products by key players. They are also investing in advanced methods and developing sustainable products which comply with strict government policies.

North America accounts for a substantial share of the global termite control market owing to the growing termite activities in the region. The presence of a well-established network of pesticides and termite control companies in the region also supports the market growth. The rising use of advanced control methods such as detection devices, monitoring tools and eco-friendly treatment is also aiding the market. Additionally, the high disposable incomes of the working population boost the preference for professional services for termite control and treatment, contributing to the market growth.

The Asia Pacific is also expected to witness significant growth in the forecast period owing to the rise in construction activities in developing economies. The increased migration of people to urban cities has also spurred the demand for residential units, consequently favouring the market growth.

Key Market Players

The major players in the global termite control market report are

• Syngenta AG
• Corteva Agriscience
• Sumitomo Chemical Co., Ltd.
• FMC Corporation
• UPL Limited
• ADAMA Agricultural Solutions Limited
• Nufarm
• Ensystex, Inc
• Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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