Termite bait products gain traction as no chemical, environmentally friendly alternatives to termite infestation: Fact.MR
NEW YORK, May 19, 2021 / PRNewswire / – According to the study by Fact MR, it is global Termite bait products market is expected to grow by 5% CAGR between 2021 and 2031. According to the study, termites destroy billions of dollars of property worldwide every year. Underground termites cause the maximum damage of almost 85% of the total damage. The increasing demand for termite infestation management is driving the Termite bait market growth. Extensive research and development to develop highly efficient and less invasive termite bait products will continue to support market expansion over the forecast period.
According to a report published by UNESCO, a termite infestation led to the collapse of various houses in the “ITCHAN KALA” World Heritage Site in Uzbekistan. Promote such incidents Manufacturers to develop new techniques such as three bait poisons and durable the Termite bait products specifically against underground termites.
“Termite bait system products are used in residential and commercial areas as a preventive measure against termite infestation. This opened the door to the development of advanced and environmentally friendly termite bait systems and liquid insecticides that are applied to the ground,” said a senior analyst at Fact.MR.
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The central theses
- The globe Termite bait products Market is expected to be the valuation of US $ 2.8 million until the end of the forecast period (2021-2031).
- The globe Termite bait products The market is also expected to grow 1.5 times by the end of 2031.
- USA has the largest market for Termite bait products as it hosts the largest timber industry in the world, along with customers experiencing increased spending on termite bait products.
- China Termite infestation threatens enormous property damage, which is a lucrative opportunity for Termite bait products Market expansion.
- India increases investment in Termite bait products to curb the crop damage caused by termites, which leads to a growth in the termite bait product market.
- Termite bait products that are humane, environmentally friendly and very durable have a positive impact on those Market growth.
- The migration of termites to higher altitudes due to global warming leads to a high infestation of termites in high altitude regions and increases market demand.
- Easy installation and maintenance of Termite bait products will increase market growth.
- High installation costs and the frequent need for monitoring and maintenance are holding back market growth.
- Unusualness of Termite bait products mainly in Asian countries also restricts the acceptance of the products.
- Dominance of chemical liquid barriers and slow results from Termite bait products inhibit market growth.
Learn More About Termite Bait Products Market With 105 Illustrations And 112 Data Tables And Table Of Contents. https://www.factmr.com/report/termite-bait-products-market
Leading players in Termite bait products market Profiled by Fact.MR are BASE SE, Dow, PCT International, Sbm Life Science Corp., Sumitomo Chemicals LTD. Bayer AG, Ensystex, Rentokil Initial PLC, Spectrum Brand INC., Syngenta and others. The main agenda of market participants is to deepen the penetration of potential and new markets. You employ organic and inorganic marketing strategies to achieve the goal. An increase in strategic mergers and acquisitions has also been observed, followed by new product launches.
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More valuable insight into the termite bait products market
In its new report, Fact.MR offers an unbiased analysis of the global Termite bait products market, which analyzes forecast statistics through 2019 and beyond. The study reveals growth projections for in Termite bait products market based on termite type (underground, dampwood, drywood), bait (bait devices, liquid eradication method), station (Underground, above ground), Application (trade & industry, housing, agriculture & livestock) across regions (North America, Latin America, Europe, South asia, East asia, MEA).
Key issues addressed in the report
- Which factor will be most important for Termite bait products market?
- What is likely the future outlook of Termite bait products market?
- What are the main drivers and limitations for Termite bait products market?
- Which region has the highest growth rate in Termite bait products market?
- Who are the leading players in Termite bait products market?
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