In a recent published report, Kenneth Research has updated the market report for Termite Control Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Termite Control Market products.
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The global Termite Controlmarket was valued at USD 2.90billion in 2016 and is projected to reach USD 4.70billionby 2025, growing at a CAGR of 5.5% from 2017 to 2025.
Termites are the major cause of destruction of large quantities of wooden infrastructure. Termite control is gaining importance on account of losses resulting from termite infestation. The demand is expected to remain high in developing countries which have prevalently moist conditions.
1. Market Drivers
1.1 Growing economic activities
1.2 Climate change
2. Market Restraints
2.1 Absence of uniform guidelines
2.2 Operating constraints
The global Insecticide Seed Treatment market is segmented on the species type, control method, application, and region.
1. By Species Type:
1.1 Dampwood Termites
1.2 Subterranean Termites
1.3 Drywood Termites
2. By Control Method:
2.1.1 Synthetic Pyrethroids
2.1.3 Chlorinated Hydrocarbons
2.2 Physical and Mechanical
2.2.1 Termite Barriers
2.2.2 Bait Technology
2.3.3 Nematode Control
3. By Application:
3.2 Commercial and Industrial
3.3 Livestock and Agriculture Farms
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
3. Control Solution Inc.
4. Bayer Cropscience AG
5. Nippon Soda Co. Ltd.
6. Syngenta AG
7. Adama Agricultural Solutions Ltd.
8. Sumitomo Chemical Co. Ltd.
9. Rentokil Initial PLC
10. FMC Corporation
11. United Phosphorous Limited
12. Nufarm Limited
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Termite Controlmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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