TERMITE CONTROL MARKET ANALYSIS

Termite Control MarketSize and Trends

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.

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

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.

Market Trends

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.