DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Termite Control Market by Species Type, Control Method, Application, and Region - Global Forecast to 2022" report to their offering.
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.
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. These various structures require efficient solutions for controlling spread of termites.
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 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.
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.)
For more information about this report visit http://www.researchandmarkets.com/research/bp2dgn/termite_control