Termite Control Global Market
The Termite Control Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Termite Control Global Market Report 2024, The termite control market size has grown strongly in recent years. It will grow from $5.16 billion in 2023 to $5.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rise in professional pest control services, chemical treatment advancements, development of baiting systems, climate and weather influence, awareness and education initiatives.
The termite control market size is expected to see strong growth in the next few years. It will grow to $7.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to expansion of professional services, development of targeted treatments, integration of pest management programs, expansion in construction industry, stringent regulatory requirements. Major trends in the forecast period include demand in construction industry, environmentally friendly solutions, advanced treatment technologies, rise in urbanization, climate change impact.
Growing construction industry is significantly contributing to the growth of the termite control market going forward. The construction industry refers to the area of business and manufacturing that is concerned with building, preserving, and fixing infrastructure. Termite control is employed in the construction industry to prevent and control termite infestation in buildings which ruins the building infrastructure and deteriorate the quality of construction. For instance, according to a 2022 report published by the Bureau of Economic Analysis (BEA) a US-based government organization that provides official macroeconomic and industry statistics, the size of the US construction industry increased from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022. Therefore, the growing construction industry will drive the market.
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The termite control market covered in this report is segmented –
1) By Type: Chemical Termite Control, Physical And Mechanical Termite Control, Biological Termite Control
2) By Species Type: Dampwood Termites, Subterranean Termites, Drywood Termites, Other Species Types
3) By Application: Commercial And Industrial Sector, Residential Sector, Agriculture And Livestock Farms, Other Applications
Product innovations are the key trend gaining popularity in the termite control market. Major companies operating in the termite control market are focusing on integrating new technologies and methodologies to improve termite control applications. For instance, in October 2023, Groupe Berkem, a France-based chemical manufacturing company launched Novaterm. Novaterm was created exclusively for termite control specialists. This new product is a twofold innovation in the field of trap systems: first, it gives termite control professionals more autonomy and productivity through a smartphone application that allows them to plan their trips more efficiently and regulate the number of traps and biocides they have to keep track of. Second, Groupe Berkem’s Synerkem technology—a plant-based booster—is included in Novaterm, ensuring the same degree of performance while drastically lowering the formulation’s use for traditional biocides.
The termite control market report table of contents includes:
1. Executive Summary
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