New York, July 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Termite Control Global Market Report 2023" - https://www.reportlinker.com/p06480031/?utm_source=GNW
The global termite control market is expected to grow from $4.82 billion in 2022 to $5.16 billion in 2023 at a compound annual growth rate (CAGR) of 7.11%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $6.65 billion in 2027 at a CAGR of 6.52%.
The termite control market includes revenues earned by entities by providing pre-construction termite treatment services and post-construction termite control services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The termite control market consists of sales of Diflubenzuron, Hexaflumuron and Hydramethylnon.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Termite control refers to the application of pesticides, except fumigants, to the ground before building a structure or in or around other structures to control termites and other invertebrate pests that eat wood.
North America was the largest region in the termite control market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the termite control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of termite control are chemical termite control, physical and mechanical termite control, and biological termite control.Chemical termite control refers to termite control that uses chemicals to exterminate termites.
They are administered to various species of termites, such as damp-wood termites, subterranean termites, dry-wood termites, and others. They are used in various applications, such as commercial, residential, agriculture, and others.
Growing construction industry is significantly contributing to the growth of the termite control market going forward.The construction industry refers to the area of business and manufacturing that is concerned with building, preserving, and fixing infrastructure.
Termite control is employed in the construction industry to prevent and control termite infestation in buildings which ruins the building infrastructure and deteriorate the quality of construction. For instance, according to a 2022 report published by the Bureau of Economic Analysis (BEA) a US-based government organization that provides official macroeconomic and industry statistics, the size of the US construction industry increased from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022. Therefore, the growing construction industry will drive the market.
Product innovations are the key trend gaining popularity in the termite control market.Major companies operating in the termite control market are focusing on integrating new technologies and methodologies to improve termite control applications.
For instance, in May 2020, BASF SE a Germany-based chemical company launched Trelona advanced termite baiting system.The new technology increases efficiency by using a special, extremely strong active component and simple-to-install and-monitor bait stations.
Trelona ATBS allows pest control professionals unprecedented levels of freedom in selecting the best termite defense.
In September 2022, BUGCO® Pest Control a US-based pest control company acquired Termite Technology & Pest Control for an undisclosed amount.The acquisition expands the suite of services that BUGCO provides by adding termite control services to its arsenal and increasing the range of amenities that it can offer clients as a firm, complementing Termite Technology & Pest Control’s great corporate heritage and culture.
Termite Technology & Pest Control is a US-based pest and termite control solution.
The countries covered in the termite control market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The termite control market research report is one of a series of new reports that provides termite control market statistics, including termite control industry global market size, regional shares, competitors with a termite control market share, detailed termite control market segments, market trends and opportunities, and any further data you may need to thrive in the termite control industry. This termite control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06480031/?utm_source=GNW
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