Termite Control Market Revenue Growth Predicted by 2018-2025
Termite Control – Insights
Termites mainly feed on cellulose and dead plant material that are usually in the form of leaf litter, wood, and soil. Termites damage buildings, food crops, wooden materials, and others. Various chemical, biological, physical and mechanical methods are being used to control termite infestation. Supportive government initiatives is a major factor fueling growth of termite control market. For instance, the Environmental Protection Agency (EPA) in the U.S. encourages termite prevention through various awareness programs and has implemented stringent standards for registration and use of termite control products.
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The subterranean termites segment accounted for the largest market share in 2016, owing to high concentration of these termites. A single colony contains as many as over two million termites, which makes the subterranean termites the most destructive termite species. Chemical control method is most widely used in controlling termite infestation. This is owing to rapid and effective elimination abilities of chemical compounds used against termites. Pyrethroids is the most preferred pesticide along with chemicals such as chlorinated hydrocarbons, phenylpyrazole, chloronicotinyls, borates, trifluoromethyl aminohydrazones, and pyrroles used in this method.
North America market held dominant position in global termite control market with a value of US$ 1,165.79 million in 2016. Increasing demand of termite control products from commercial and industrial sectors such as food service and food processing industries is major factor propelling growth of the market in the region. The Pest Management Regulatory Agency of Health Canada (PMRA), regulates the Pest Control Products Act (PCPA), in various sectors including Food Residue Exposure Assessment Section (FREAS), which evaluates cases, where these services can affect the human health due to their contact with field crops, meat and dairy products and processed food.
In terms of revenue, Asia Pacific is expected to be the fastest growing region in global termite control market, owing to increasing awareness related to termite damage. Significant growth of tourism industry is fuelling the demand for hygienic stays in hospitality sector, which in turn aids growth of termite control market in the region. According to the data provided by the World Travel & Tourism Council in October 2017, Asian cities are at the forefront of growing tourism and the world’s top ten fastest growing tourism cities including Chongqing, Guangzhou, Shanghai, Beijing, Chengdu, Manila, Delhi, Shenzhen, Kuala Lumpur and Jakarta are all in Asia Pacific.
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