TERMITE CONTROL MARKET ANALYSIS

The global termite control market is valued at US$ 4,159.2 Mn in 2022, and it is anticipated to attain a value of US$ 6,778.6 Mn by 2030, at a CAGR of 6.30% over the forecast period (2023 - 2030). Termites are insects that are commonly known as white ants. They form highly organized colonies of several hundred thousand to million termites and mostly feast upon wood and damage it from the inside out. Although, termites do not carry harmful diseases to humans prolonged exposure to a place infested by termites may cause allergic reactions and asthma attacks. Termites mainly feed on cellulose and dead plant material that is usually in the form of leaf litter, wood, and soil. Termites damage buildings, food crops, wooden materials, and others. Various chemical, biological, physical, and mechanical methods are being used to control termite infestation. Supportive government initiatives are a major factor fuelling the growth of the termite control market. For instance, the Environmental Protection Agency (EPA) in the U.S. encourages termite prevention through various awareness programs and has implemented stringent standards for the registration and use of termite control products.

Global Termite Control Market- Impact of Coronavirus (Covid-19) Pandemic

Governments all over the world were forced to implement strict lockdown and social isolation measures as a result of the COVID-19 pandemic. For the purpose of halting the spread of the viral disease, a number of pesticide manufacturing companies were forced to temporarily close their facilities. Additionally, this led to significant losses in the pest control industry. However, once the constraints are lifted during the post-COVID-19 period, the market is anticipated to resume its upward trajectory.

Global Termite Control Market – Growth Drivers

• Supportive government initiatives

The Environmental Protection Agency in the U.S. encourages termite prevention through various awareness programs and has implemented stringent standards for the registration and use of termite control products.  For instance, Pest/Vector control Industry in India, Attention on pest and vector control gained attention in recent times with larger scale economic losses and increasing debility with vector borne diseases in the country. In India, pest control market has seen exceptional growth at approximately 22% in the last few years.

• Using biological control techniques

Rising demand for biological control methods using biotermiticides is expected to fuel market growth of termite control over the forecast period. In addition to this, increasing awareness regarding the adverse effects of termites is propelling the global demand for termite control services. Furthermore, growing demand for hygienic stay in the hospitality sector from tourists and stringent good manufacturing practices (GMP), ensuring zero tolerance to pests in the pharmaceutical sector, are some of the key factors largely contributing to overall growth of this market.

Global Termite Control Market – Restraints

• Toxic Pesticide products

However, various government regulations for use of certain pesticides and limitations on access or the ban of certain toxic pesticides is expected to hinder the growth of the market. For instance, in Japan, heptachlor and chlordane are restricted for use in termite control, owing to their harmful effects on human health and the environment.

Based on the product, the global market segments for this particular market include by type, by control method, by regions, and applications. By applications the global termite market projects the market growth of commercials, residential, agriculture, and industrial. The commercial segment dominated the commercial sector in 2022. The industrial application segment accounted for a lower share of the market in 2022 but is estimated to grow at a faster rate during the forecast period. Based on geography, the market segments include North America, Europe, Asia Pacific, Latin America, Middle east, Africaand rest of the world.

Figure 1. Global Termite Control Market (%), By Region

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Global Termite Control Market – Recent Developments

• In April 2019, Terminix and a ServiceMaster company has launched Terminix Tick Defend System. It is an integrated pest management system (IPE) that helps to protect homes and yards from termites and other infections
• In May 2021, Anticimex Group, one of the leading pest control companies globally, announced its acquisition of the Palmera Junior, a family-owned company based in Colombia, with an impressive growth history. Anticimex made the first strategic acquisition in Latin America and marked the starting point for an expansion strategy in this fast-growing market.
• In January 2021, Rentokil Initial plc, the world’s leading commercial pest control services provider, announced the acquisition of Environmental Pest Services ('EPS'), a full-service residential and commercial pest control company based in Tampa, Florida. This acquisition will help Rentokil Initial plc. in their strategy to acquire pest control businesses that build customer density and strengthen their reach in key local markets.
• In January 2021, Rentokil Initial plc, the world’s leading commercial pest control services provider, announced the acquisition of Environmental Pest Services ('EPS'), a full-service residential and commercial pest control company based in Tampa, Florida. This acquisition will help Rentokil Initial plc. in their strategy to acquire pest control businesses that build customer density and strengthen their reach in key local markets.

Global Termite Control Market – Regional Insights

North America market held a dominant position in the global termite control market in 2022. Increasing demand for termite control products from commercial and industrial sectors such as food service and food processing industries is a major factor propelling the growth of the market in the region. In addition to this wood is extensively used in the construction of residential and non-residential buildings in North America, as it is cost-effective, has seismic resistance properties, and aids in faster construction. This in turn supports the growth of the termite control market in the region as termites mostly feast upon the wood.

Figure 2. Global Termite Control Market (%), By Application

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Asia Pacific is expected to project the fastest growth in the global termite control market over the forecast period, witnessing the highest CAGR among all. In addition to this, growing tourism in the region is fuelling the demand for hygienic stays in the hospitality sector among tourists. This factor is largely propelling the demand for termite services in the region.

Global Termite Control Market – Key Players

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.

Definition : Termites are insects that are commonly known as white-ants. They form highly organized colonies of several hundred thousand to million termites and mostly feast upon wood and damage it from the inside out. Although, termites does not carry harmful disease to humans but prolonged exposure to a place infested by termites may cause allergic reactions and asthma attacks.