[FURL=https://www.industryarc.com/Research/Termite-Control-Market-Research-505025]Termite Control Market[/FURL] size is forecast to reach around $5 billion by 2025, after growing at a CAGR of 5.5% during 2020-2025. Increase in construction activities accelerated the use of wooden articles, doors, and furniture, which in turn boosted the use of termite control chemicals for the destruction of termites. Surging use of termite control for the protection of harvested crops also augments the growth of Termite Control market share. Termites result in accumulation of organic matter and decrease the pH value of soil, which further affects the growth of crops. In addition, harmful effect of chemicals and government restriction is restraining the growth of Termite Control market size.Key Takeaways
Government restrictions on the use of chemical based termiticide are hampering the growth of termite control industry growth. For instance, on March 25, 2019, the Ministry of Agriculture and Rural Affairs (MoARA) of China banned the agricultural use of fipronil in China.
Research activities and adoption of biological agents for the destruction of termites without harming the environment is driving the growth of termite control market.
Growing urbanization in the emerging country is also drive the market growth.
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Geography - Segment Analysis
North America has dominated the termite control market with a share of more than 35% in 2019 followed by Asia Pacific and Europe. Rapid population growth coupled with increase in construction of houses and building has driven the growth of termite control market in North America. National Pest Management Association estimated that termite causes $5 billion in property damage in the U.S every year. The U.S. housing sector is a key driver of demand for wood products. According to United States Census Bureau, out of 903,000 single-family homes completed in 2019, 814,000 were framed in wood and 86,000 were framed using concrete. Thus, increasing use of wood for construction has boosted the demand of termite control for eradication of pests and termites.
Drivers – Termite Control Market\
Growing demand of termite control for protection of crops
Surging uses of paper as a substitute for plastic products
Market Landscape: Major players in the termite control industry outlook are Bayer AG, BASF SE, Syngenta AG, FMC Corporation, United Phosphorus Limited, DuPont de Nemours, Inc., Nufarm Ltd., Dow AgroSciences LLC, Gowan Company, Terminix International Company, Kemin Crop Technologies, among others.
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