The termite control market is projected to grow to reach a value of USD 4.11 billion by 2022

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Jun 05, 2017, 13:48 ET

LONDON, June 5, 2017 /PRNewswire/ -- Highlights

· Commercial & industrial segment dominated the termite control market

· Commercial areas have been considered as restraining factors for the market.

· Biological control is projected be the fastest-growing control method during the forecast period

· Biological control is projected to grow at the highest CAGR from 2017 to 2022, due to the increasing scrutiny on the environmental impact of chemical compounds.

· Subterranean termites accounted for the largest market share among different termites cases, in 2016

· Subterranean termites accounted largest market share, because they occur in greater numbers and are major concern for the wooden structures as they spread across an area quickly.

· A subterranean termite colony can contain more than 500,000 termites, which includes arid land subterranean termites, dark southeastern subterranean termites, desert subterranean termites, eastern subterranean termites, subterranean nose termites, and western subterranean termite.

"The termite control market is projected to grow at a CAGR of 5.6%"
The termite control market is projected to grow at a CAGR of 5.6% from 2017, to reach a value of USD 4.11 billion by 2022. The market is driven by climate change, growth in public awareness, and government regulations on public and environmental health as well on the food hygiene. Economic activities across the globe are growing at an exponential pace, along which the growing middle-class population is also driving demand for termite control options, focusing more on improving hygiene and health standards. Lack of skilled technicians, offering innovative solutions for termite control and delayed regulatory approval process for chemical applications in residential and commercial areas have been considered as restraining factors for the market.

"Commercial & industrial segment dominated the termite control market"
The commercial & industrial segment accounted for the largest market share in 2016, as food & beverage manufacturing, hospitality, government organizations, pharmaceutical manufacturing, warehousing, retail, educational institutions, healthcare, office, turf and garden maintenance are some of the key areas where compliance with local authorities for work-in-place hygiene and maintenance is highly important. This various structures require efficient solutions for controlling spread of termites.

"Biological control is projected be the fastest-growing control method during the forecast period"
Biological control is projected to grow at the highest CAGR from 2017 to 2022, due to the increasing scrutiny on the environmental impact of chemical compounds. The usage of biological termiticides, which have few to no side effects on human health, is gaining high acceptance. The termite control service providers are slowly shifting their focus on using microbial products such as Bacillus thuringiensis and microbial extracts in their products, which have been proved to be effective on termites without much development of termiticide resistance.

"Subterranean termites accounted for the largest market share among different termites cases, in 2016"
Subterranean termites accounted largest market share, because they occur in greater numbers and are major concern for the wooden structures as they spread across an area quickly. A subterranean termite colony can contain more than 500,000 termites, which includes arid land subterranean termites, dark southeastern subterranean termites, desert subterranean termites, eastern subterranean termites, subterranean nose termites, and western subterranean termite.

"North America: The largest market for termite control products and services"
North America accounted for the largest market share in 2016, due to significantly growing demand in both commercial and residential applications in the region. Asia-Pacific is projected to be the fastest-growing region from 2017 to 2022, due to the stringent need for commercial establishments and industrial sectors to comply with termite control regulations within their premises.

Break-up of Primaries:

- By Company Type: Tier 1 - 35%, Tier 2 - 45%, Tier 3 - 20%
- By Designation: C level - 25%, Directors - 30%, Others - 45%
- By Region: Asia-Pacific - 20%, Europe - 25%, North America - 45%, RoW - 10%

Others include sales managers, marketing managers, and product managers.

The three tiers of the companies are defined on the basis of their total revenue, as of 2015; Tier 1: Revenue > USD 1 billion, Tier 2: USD 500 million < Revenue < USD 1 billion, and Tier 3: Revenue < USD 500 million

Leading players profiled in this report are as follows:

• BASF SE (Germany)
• FMC Corporation (U.S.)
• Syngenta AG (Switzerland)
• Bayer CropScience AG (Germany)
• Rentokil Initial plc. (U.K.)
• Dow Chemical Company (U.S.)
• Sumitomo Chemical Co. (Japan)
• Nufarm Limited (Australia)
• United Phosphorus Limited (India)
• ADAMA Agricultural Solutions Ltd. (Israel)
• Nippon Soda (Japan)
• Control Solution plc. (U.S.)
• Ensystex (U.S.)

Study Coverage:
The termite control market has been segmented on the basis of species type, application, and control method, which are further divided into their subsegments. It has also been segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Reasons to buy this report:
• To get a comprehensive overview of the global termite control market
• To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by the players
• To gain insights about country- and region-based market trends and growth prospects in the termite control market
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