Termite Bait System Products Market
Termite Bait System Products Market (Termite: Subterranean, Dampwood, Drywood; Type: Bait Devices, Liquid Eradication Methods; Station: In Ground, Above Ground; Application: Commercial & Industrial, Residential, Agriculture & Livestock; Distribution Channel: Online, Offline) - Global Industry, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Introduction of Novel Bait Systems and Liquid Methods Triggering Market Growth
End users in residential and commercial areas are always on the pry to discover innovative approaches to prevent the infestation of termites in new construction structures. Hence, manufacturers in the termite bait system products market are transcending in novel termite bait systems and soil-applied liquid termiticides.
Baiting systems have been gaining more and more popularity in the last couple of years. As such, revenue from bait devices is projected to account for the highest value amongst all eradiation methods, in the termite bait system products market, with an estimated value of ~US$ 1.8 billion by the end of 2027. Hence, manufacturers in the termite bait system products value chain are increasing R&D to develop bait systems that have a long-term approach to termite control. As such, they are educating the masses that the key to effective termite baiting is proper monitoring and maintenance of the stations.
Soil-applied liquid termiticides also serve as an efficacious solution to form a continuous chemical barrier in the soil surrounding both sides of the foundation. This method is very useful in agriculture and livestock. Currently, agriculture and livestock account for the second-highest revenue amongst all applications in the termite bait system products market. Hence, manufacturers in the termite bait system products space are meeting the needs of stakeholders in the agriculture and livestock value chain by increasing the availability of liquid methods that prevent foraging termites from reaching the foundation and piers.
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Pre-treating and In Ground Monitoring-Baiting Systems Increasingly Meet End User Needs
The trend of precast construction anti-termite treatment is a lucrative opportunity for stakeholders in the termite bait system products value chain. This trend is very prominent in the commercial and residential sector. As such, the commercial & industrial segment accounts for the highest revenue amongst all applications in the termite bait system products market, with an anticipated value of ~US$ 1.1 billion by 2027. Thus, the benefits of pre-construction anti-termite treatment are attracting the attention of customers. Pre-treating the area alleviates the problem of gapping, thus preventing subterranean termites from coming up from the soil and entering the structure. Companies in the termite bait system products landscape are capitalizing on this pre-treating trend, since less application of termiticides serves as an inexpensive solution for end users.
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New trends in termite baiting systems include in ground monitoring-baiting systems. These systems can be used by themselves or as a combination treatment for more flexibility. Companies in the termite bait system products ecosystem are capitalizing on this trend, and are recommending end users to use baiting systems along with liquid termiticides when the stations are installed. The introduction of standalone termite management systems has catalyzed the growth of the termite bait system products market. This treatment serves as an alternative in cases when liquid termiticides are not a practical solution to control termites.
Is Baiting Better than Liquid Eradiation Method?
Termites are dangerous insects capable of causing damage worse than floods, famines, and tornados. Hence, manufacturers in the termite bait system products supply chain are introducing novel liquids and baiting methods to treat termites.
The liquid eradiation method is popularly known for getting faster results. This treatment is designed to prevent termites from entering structures. However, certain limitations of this method pose as a hurdle for its adoption in the termite bait system products landscape. Customers are often required to drill entry areas before applying the liquid. They also need to create repellent barriers that are prone to gapping, and can further lead to new infestation in the future. To avoid such issues, manufacturers in the termite bait system products market are introducing efficacious liquid termiticides with unique properties that immediately eliminate termites.
On the other hand, manufacturers in the termite bait system products market are developing advanced baiting systems that are environmentally-friendly and prevent the infestation of termites. However, the initial cost of baiting systems is on a much higher side as compared to liquid treatment. Baiting is not a cost-effective solution for customers, as the technique is labour-intensive and its efficacy is largely based on the dimensions of the house/structure. Hence, manufacturers in the termite bait system products market are developing systems that can be easily installed and alleviate the need for drilling or digging in soil treatment.
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on Termite Bait System Products Market
Consumers are increasingly looking for less-intrusive and easy-to-install termite baiting systems. Companies in the termite bait system products market are improvising at ground level, and are providing value-added services to customers, such as regular and reliable check-up and maintenance of the systems. Although lucrative opportunities are creating the scope for increased revenue income, stringent environmental regulations act as a restraint for market growth. Hence, companies should increase their expertise in bait systems that use lesser chemicals and lower the environmental impact. Companies should focus on incorporating the technique of three bait toxicants in termite bait systems to treat subterranean termites.
Termite Bait System Products Market: Definition/Overview
- Termite baits are used in residential, commercial, and agricultural applications to help control different types of termite infestations.
- Termite baits are made with cellulose, and combined with a slow-acting insecticide. This disrupts the normal growth process and kills the termites.
- The global termite bait system products market was valued at ~US$ 1.8 Bn in 2018.
- Expanding at a CAGR of ~5%, the global termite bait system products market is projected to reach a valuation of ~US$ 2.8 Bn by the end of 2027.
Global Termite Bait System Products Market: Regional Overview
- Asia Pacific is likely to be the fastest-growing region in the global termite bait system products market during the forecast period. Termites are considered one of the most destructive pests in this region. It has been estimated that, termites cause an estimated RMB 80 billion worth of structural damage every year in China.
- Over the past few years, the economic growth of this region is driving companies to invest in developing countries, including China and India.
- North America is the largest regional market in the global termite bait system product market. Rising demand for pest control products coupled with growing consumer awareness about the ill-effects of chemical products is driving demand in this region.
- In terms of type of termite, subterranean is the dominant segment in North America, in the termite bait system products market. Subterranean termites accounted for around 90% of the management and damage costs in the U.S., which drives the demand for termite bait system products in this region.
Global Termite Bait System Products Market: Trends
- Termites have the ability to live in a temperature range of 22.9°C to 35°C. As a result, they are majorly found in subtropical regions. Changing climatic conditions as a result of worldwide temperature rise prompts growth in the termite population, as they can increase their ecosystem in warmer climatic conditions.
- Apartments in high temperature regions require long-term protection from termites. As a result, the usage of termite bait system products is increasing.
Termite Bait System Products Market: Drivers, Opportunities, and Restraints
- Various strategies are utilized to control the termite population, including liquid chemical barriers and baiting stations. Liquid chemical barriers such as anti-agents are utilized to create a barrier around and under structures to square the potential courses of termite passage.
- Pest management is seeing increasing growth in order to maintain consumer health and hygiene. People spend money on protecting themselves with such preventive measures for the structural protection of their households, which is expected to create opportunities in the termite bait system products market.
- The average cost of installing bait systems is on the higher side. Average annual maintenance cost is also high in baiting systems as compared to conventional chemical treatments, which is expected to be a restraint for the global termite bait system products market.
Global Termite Bait System Products Market: Key Segments
The global termite bait system products market has been segmented based on termite, type, station, application, distribution channel, and region.
- By Termite
- In terms of termite, the global termite bait system products market has been divided into subterranean, dampwood, and drywood.
- The subterranean termite segment is the largest segment in the global termite bait system products market.
- By Type
- On the basis of type, the global termite bait system products market has been classified into bait devices and liquid eradication methods.
- The bait devices segment is the largest segment in the global termite bait system products market.
- By Station
- In terms of station, the global termite bait system products market has been categorized into in ground and above ground.
- The in ground segment is the largest segment in the global termite bait system products market.
- By Application
- On the basis of application, the global termite bait system products market has been classified into commercial & industrial, residential, and agriculture & livestock.
- The commercial & industrial segment is the largest segment in the global termite bait system products market.
- By Distribution Channel
- In terms of distribution channel, the global termite bait system products market has been categorized into online and offline.
- The offline segment is the more prominent segment in the global termite bait system products market.
- By Region
- Based on region, the global termite bait system products market has been divided into North America (U.S., Canada, and Rest of North America), Europe (Russia, Norway, U.K., and Rest of Europe), Asia Pacific (China, Indonesia, India, and Rest of Asia Pacific), Middle East & Africa (GCC, Egypt, and Rest of Middle East & Africa), and South America (Argentina, and Rest of South America).
- North America currently leads the global termite bait system products market in terms of share.
Global Termite Bait System Products Market: Competition Landscape
- The global termite bait system products market is highly competitive, with the presence of several global and domestic level players.
- Companies are investing in product innovation and mergers & acquisitions to increase their customer base in the termite bait system products market.
- Some of the key players operating in the termite bait system products market are
- BASF SE
- Bayer AG
- Sumitomo Chemical Co., Ltd.
- Spectrum Brands, Inc.
- PCT International
- Rentokil Initial Plc
- Sbm Life Science Corp.
Termite Bait System Products Market - Scope of the Report
Transparency Market Research’s recent report on the termite bait system products market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the termite bait system products market analyzes the scenario for the period of 2019-2027, wherein, 2018 is the base year and 2017 and earlier is historical data. The report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
The report has been prepared after extensive research. Primary research involves bulk of the research efforts, wherein, analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global termite bait system products market.
This TMR study on the termite bait system products market provides data on the developments undertaken by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the global termite bait system products market gives readers an individual understanding of the market.
The study discusses the underlying trends and impact of various factors that drive the global termite bait system products market, along with their influence on the evolution of the market. The study also offers Porter’s Five Force Analysis, value chain analysis, key trend analysis, and SWOT analysis of the global termite bait system products market, in order to highlight the crucial growth tactics and opportunities for market players.
Termite Bait System Products Market Report: Key Questions Answered
- How much revenue will the termite bait system products market generate by the end of the forecast period?
- What type of termite bait system product is likely to gain the maximum market share by 2027?
- What regions currently contribute the maximum share to the overall termite bait system products market?
- What are the indicators expected to drive the global termite bait system products market?
- Which region is likely to be a lucrative market during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the global termite bait system products market to expand their geographical presence?
- What are the major advancements witnessed in the global termite bait system products market?
The report answers these questions and more about the global termite bait system products market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Global Termite Bait System Products Market – Research Methodology
The TMR report on the global termite bait system products market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competitive scenario of the global termite bait system products market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global termite bait system products market arrive at predictions and estimations, and calculate the forecasts for the market. The report uses an analytical triangulation method to estimate the numbers and figures of the global termite bait system products market, with both, a bottom-up and top-down approach.
Global Termite Bait System Products Market – Segmentation
The report on the global termite bait system products market provides information on the basis of termite, type, station, application, distribution channel, and region.
Liquid Eradication Methods
Commercial & Industrial
Agriculture & Livestock
Middle East & Africa