Termite Treatment Chemical Market: Highlights
- Akin to ants, termites are small insects that eat dead plants and trees or other wooden materials. There are more than 2,300 species of termites across the world. They cause serious damages to home, workplace, etc. and are difficult to get rid of. Often, they thrive discreetly and in inaccessible spots.
- Termite treatment chemical helps in either eliminating termites or repelling them from buildings and agricultural fields
- Termite treatment chemical is primarily used in commercial & industrial sector, residential sector, agriculture & livestock farms, and others
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Key Drivers and Restraints of Termite Treatment Chemical Market
- Demand for termite treatment chemical has been rising due to the growth in construction activities. Termite treatment chemical helps avoid unwanted damages that are caused by termites. According to the Bureau of Labor Statistics, construction is the fastest growing industry in 2020. Thus, expansion of the construction industry is expected to boost the demand for termite treatment chemical during the forecast period.
- Certain operational constraints have been put in place in terms of usage of termite control products. These include restrictions on frequency & maximum rate of application, and potential impact of termite treatment chemical on sensitive and non-target species. Termite control applications need to be licensed and certified in developed countries such as the U.S., the U.K., and Germany. Often, technicians are unskilled laborers in developing regions. As a result, the risks to them and customers remain high. This is one of the major restraints of using termite control products.
Termite Treatment Chemical Market: Application Segment
- Based on application, the global termite treatment chemical market can be segmented into commercial & industrial sector, residential sector, agriculture & livestock farms, and others
- The commercial & industrial sector segment is projected to hold major share of the global termite treatment chemical market during the forecast period. The residential sector segment is estimated to expand at a healthy pace during the forecast period. It is expected to account for vital share of the market by 2027.
- Expanding at a significant pace, the agriculture & livestock farms segment is anticipated to create significant incremental opportunity in the market during the forecast period
- Demand for termite treatment chemical is anticipated to remain moderate in other applications in the near future
North America to be Key Region of Global Termite Treatment Chemical Market
- In terms of region, the global termite treatment chemical market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Consumption of termite treatment chemical is higher in North America that that in other regions. Expansion of the construction industry in various parts of North America is estimated to boost the market in the region in the near future.
- Agricultural professionals in China are seeking modern practices of farming for sustainable development of agricultural yield. The Government of China has made significant efforts to promote precision farming research. It has funded several projects in this endeavor. This is projected to drive the termite treatment chemical market in the country.
- In terms of demand, North America holds prominent share of the market. It is followed by Asia Pacific and Europe.
- The market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period
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Key Manufacturers in Termite Treatment Chemical Market
The global termite treatment chemical market was highly fragmented in 2018. Key manufacturers operating in the global market include:
- Rentokil Initial plc
- BASF SE
- Velcare International
- The Dow Chemical Company
- Sumitomo Chemical
Global Termite Treatment Chemical Market: Research Scope
Global Reactive Adhesives Market, by Product Type
Global Reactive Adhesives Market, by Application
- Commercial & Industrial Sector
- Residential Sector
- Agriculture & Livestock Farms
Global Termite Treatment Chemical Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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