The global termite control market has been segmented on the basis of species type, application, control method, and region. The termite control market is projected to grow at a CAGR of 5.6% for the period 2017, to reach USD 4.11 Billion by 2022. The key driving factors of this include developing economies, easy availability of termite control service providers, and climate change. Termite control products are highly applicable in commercial areas, which will automatically drive the growth of the market in the coming years
Key players identified with a strong presence in the market for termite control include BASF SE (Germany), The Dow Chemical Company (U.S.), Bayer CropScience AG (Germany), Syngenta AG (Switzerland), Sumitomo Chemical Co. (Japan), FMC Corporation (U.S.), Nufarm Limited (Australia), United Phosphorus Limited (India), Rentokil Initial plc. (U.K.), ADAMA Agricultural Solutions Ltd. (Israel), Nippon Soda (Japan), Control Solution plc. (U.S.), and Ensystex (U.S.).
Acquisition was the key strategy adopted by industry players in order to achieve growth in the termite control market. This has helped companies to enhance their product portfolio, increase their clientele, gain distributional reach, and achieve market consolidation. Syngenta AG (Switzerland) and Rentokil Initial plc (U.K.) are two of the leading players that adopted this strategy in order to develop their termite control business. Through expansions, key companies have been expanding their market presence in regions of high potential growth for termite control business such as the North American and Asia-Pacific regions. Bayer CropScience AG (Germany) and BASF SE (Germany) are some of the leading manufacturers that adopted the new product launch strategy.
Bayer AG (Germany)
Bayer AG is also one of the key suppliers of termiticides to the global termite control market. The company, as a part of its strategy, has entered into acquisition and expansion contracts to strengthen its product portfolio and improve its position, globally. The company has been expanding its geographical presence with the help of acquisitions and collaborations. For example, Bayer AG and FaunaPhotonics (Denmark) entered in collaboration in December 2016 to expand its product portfolio, and in May 2016, Bayer acquired Monsanto Company (U.S.) to strengthen its market position in the termite control industries in the U.S.
FMC Corporation (U.S.)
FMC Corporation is one of the key players in the termite control market. Acquisitions have been its important approach toward stabilizing its presence in high-demand markets of the U.S., Europe, and South America. Strategic mergers have helped the company to strengthen its portfolio of approved active ingredients in both, established and emerging markets.
Rentokil Initial plc (U.K.)
Rentokil Initial plc is one of the global giants in providing termite control services. This company has been keen on acquiring family-owned termite control agencies in order to strengthen its presence, market share, and services. The company collaborated with PA Consulting Group (U.K.) to develop its termite control services in July 2016.
Termite Control Market by Species Type (Subterranean, Dry Wood, Dampwood), Control Method (Chemical, Physical & Mechanical, Biological), Application (Commercial & Industrial, Residential, Agriculture & Livestock Farms), and Region - Global Forecast to 2022
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