Termite Control Market The report examined the assessment of global data, competitive analysis, industry players and their scope. Also analyze the tools like Porter’s Five Forces Analysis, SWOT Analysis, Feasibility Study and Return on Investment Analysis. The study includes readiness for technology, intensity of competition, compliance with legal regulations, potential for disruption, trends and forecast regions.
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Termites feed primarily on cellulose and dead plant matter, which is usually in the form of leaves, wood, and soil. Termites damage buildings, food crops, wood materials, and others. Various chemical, biological, physical and mechanical methods are used to combat termite infestation. Supportive government initiatives are an important factor in the growth of the termite control market. For example, the US Environmental Protection Agency (EPA) promotes termite prevention through various awareness programs and has introduced strict standards for the registration and use of termite control products.
The North American market had a dominant position in the global termite control market in the region in 2016, valued at $ 1,165.79 million. The Pest Management Regulatory Agency of Health Canada (PMRA) regulates the Pest Control Products Act (PCPA) in various sectors, including the Food Residue Exposure Assessment Section (FREAS), which assesses cases where these services affect human health due to their contact with Crops, meat and dairy products, and processed foods.
Additionally, the Insecticide Act helps the Indian Pest Control Association – a not-for-profit trade association of professional pest control companies in India – regulate the import, registration process, manufacture and use of insecticides to reduce risks to animals and human beings. All insecticides go through the registration process with the Central Insecticides Board & Registration Committee (CIB & RC) before they are used. The constantly changing regulatory scenario and strict pesticide registration process are holding back market growth to some extent.
The termite control market was valued at $ 3,276.91 million in 2016 and is expected to grow at a CAGR of 5.7% in terms of sales over the forecast period (2017-2025).
Major players in the global Termite Control Market
The main players are pursuing various strategies such as mergers and acquisitions, joint ventures, partnerships and product innovations to ensure their long-term existence in this market. In 2017, Arrow Exterminating Company, Inc. acquired Bugmaster Exterminators, a US-based company that specializes in commercial and residential termite control, to expand its presence in the residential and commercial sectors by offering a full range of services .
Some of the key players in the global termite control market are 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.
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[Note: *The PDF Brochure Includes
1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]
Important information that can be found in the report:
♦ To assess the impact of COVID-19 on the growth of the Termite Control market
♦ Successful market entry strategies formulated by emerging market players
♦ Price and marketing strategies of established market participants
♦ Country-based evaluation of the termite control market in key regions
♦ Year-on-year growth of each market segment in the forecast period 2027
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In addition, the following years are taken into account for the study:
Historic year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026
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