NEW YORK, May 19, 2021 / PRNewswire / – According to the study by Fact MR, it is global Termite bait products market is expected to grow by 5% CAGR over the period from 2021 to 2031. According to the study, termites destroy billions of dollars of property worldwide every year. Underground termites cause the maximum damage of almost 85% of the total damage. The increasing demand for termite infestation is fueling the Market growth in termite bait products. Extensive research and development to develop highly efficient and less invasive termite bait products will continue to support market expansion over the forecast period.
According to a report published by UNESCO, the termite infestation led to the collapse of various houses in the “ITCHAN KALA” World Heritage Site in Uzbekistan. Promote such incidents Manufacturers towards developing new techniques like three bait toxins and long lasting the Termite bait products especially against underground termites.
“Termite bait products are used in residential and commercial areas as a preventative measure against termite infestation. This opened the door to the development of advanced and environmentally friendly termite bait systems and ground-based liquid insecticides.” said a senior analyst at Fact.MR.
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The central theses
- The globe Termite bait products Market is expected to reach the valuation of $ 2.8 million until the end of the forecast period (2021-2031).
- The globe Termite bait products The market is expected to grow 1.5x by the end of 2031.
- The US has the largest market for Termite bait products It is home to the largest timber industry in the world and customers who are reporting higher spending on termite bait products.
- China faces enormous property damage from termite infestation and offers a lucrative opportunity for Termite bait products Market expansion.
- India increases investment in Termite bait products used to contain termites caused crop damage and resulted in growth in the termite bait product market.
Prominent drivers
- Termite bait products that are human and environmentally friendly and extremely durable have a positive effect on the Market growth.
- Termite migration to higher altitudes due to global warming results in high termite infestation in high altitude regions, which drives market demand.
- Easy installation and maintenance of Termite bait products will increase market growth.
Key restrictions
- High installation costs and the frequent need for monitoring and maintenance are hampering market growth.
- Obscurity of Termite bait products mainly in Asian countries also restricts the acceptance of the products.
- Dominance of chemical liquid barriers and slow results from Termite bait products are hindering market growth.
Learn More About The Termite Bait Products Market With 105 Illustrations And 112 Data Tables And Table Of Contents. https://www.factmr.com/report/termite-bait-products-market
Competitive landscape
Leading players in Termite bait products market Profiled by Fact.MR are BASE SE, Dow, PCT International, Sbm Life Science Corp., Sumitomo Chemicals LTD. Bayer AG, Ensystex, Rentokil Initial PLC, Spectrum Brand INC., Syngenta and others. The main agenda among market participants is to deepen the penetration of potential and new markets. You employ organic and inorganic marketing strategies to achieve the goal. An increase in strategic mergers and acquisitions has also been observed, followed by new product launches.
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More valuable insight into the termite bait products market
Fact.MR offers an unbiased analysis of the global in its new report Termite bait products marketAnalysis of forecast statistics up to 2019 and beyond. The study shows growth forecasts for in Termite bait products market based on the termite type (Subterranean, Dampwood, Drywood), Bait (Bait Devices, Liquid Eradication Method), Station (In the ground, above ground), Application (trade & industry, housing, agriculture & livestock) across regions (North America, Latin America, Europe, South asia, East asia, MEA).
Important questions addressed in the report
- Which factor will be the most important? Termite bait products market?
- What is likely the future outlook of Termite bait products market?
- What are the main drivers and limitations for? Termite bait products market?
- In which region is the growth rate highest? Termite bait products market?
- Who are the leading players in Termite bait products market?
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