Liquid Termiticides Market Forecast
According to research, liquid Termiticides market is projected to grow at a CAGR of 4%-6% during the forecast period of 2021-2031.
Demand for this product will be witnessed across all regional markets. Due to its long term effectiveness, ease of application, and quick results, the market for this chemical is set to prosper.
What is Driving Demand for Liquid Termiticides?
Liquid Termiticides are in demand due to their unavoidable properties that make them suitable for application in majority of commercial areas and households.
These chemicals are specially designed to kill termites and are commonly applied as a form of barrier to control infestations of subterranean termites near and around target areas. The barrier formed works by not only keeping termites away from the structure but also by killing those that penetrate the treated area.
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These termiticides have a variety of application areas like along the foundation, beneath concrete slabs, within foundation walls, etc. They are directly injected into the ground or sprayed in the application areas, ensuring a larger area of impact.
Their competitive advantages over other termite solutions like termite baits and baiting stations, provide them with an edge in the market. The chemicals provide a long term solution to get rid of probable or current termite manifestations. Their effect are long term lasting for more than five years, whereas other solutions last for a short while or maximum a year, requiring annual maintenance. They also provide immediate protection to any structure.
Options for End Users Contributing to the Growth of Liquid Termiticides Market
Liquid Termiticide treatments are often expensive with a greater cost for a larger area. But, the product portfolio of liquid termiticides has broadened in the market and companies are producing chemicals that provide different end users with options to choose from.
For example, Talstar Professional from FMC is a very low cost but effective liquid termite; Bora Care is a special wood treatment chemical that lasts for several years; Termidor is one of the most effective and popular liquid termicide but a bit on the expensive side; etc. These choice of products suiting all end users is contributing to the robust growth of the chemical’s industry.
Asia-Pacific Liquid Termiticides Market Outlook
The region of Asia-Pacific is anticipated to dominate the global market of liquid termiticides, with the largest market share. This is because a lot of countries in the region like Malaysia and China, struggle with termite infestation. Termiticides treatments have become increasingly popular as a solution in urban parts of these countries, with rapidly growing demand for the same.
Also, with growing urbanization in countries like India, the reliability on these chemicals will increase for safeguarding the newly constructed structures and the market for the chemical will continue to grow in the forecast period.
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Europe Liquid Termiticides Market Outlook
The European region dominates the global market of liquid termiticides, with the maximum share. This can be attributed to the presence of majority of key players in this region.
Germany plays home to some of the leading producers of liquid termiticides that will continue to increase its profitability and hold opportunities of expanding their production capacities and portfolios. This will add to the growth of the chemicals market in the forecast period.
MEA Liquid Termiticides Market Outlook
The Middle East and African region is expected to witness a steady rise in the market of this product due to the profound use of this chemical in many countries in the region. The rate of termite destruction is the highest in the region with huge property losses occurring annually. This cause of concern will boost the growth of liquid termticides market in the forecast period.
Who are the Key Manufacturers and Suppliers of Liquid Termiticides?
Some of the key players operating in the global market are
- BASF SE (Germany)
- Bayer AG (Germany)
- FMC Corporation (US)
- Tata Chemicals Limited (India)
- SBM Life Science Corporation (US)
- Spectrum Brands Inc. (US).
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