Liquid Termiticides Market size was over USD 2.12 Billion in 2023 and is expected to cross USD 4.58 Billion by the end of 2036, growing at more than 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of liquid termiticides is estimated at USD 2.24 Billion. The growth of the market can be attributed to the increasing number of wood constructions and abandoned or uncleaned spots of old and new buildings. The humid climate, and warm temperatures in many states are one of the reasons for the spread of termites. As per the estimations, it was observed that 900,000 homes were wood framed in 2010 which was raised by over 7% in 2020 in the U.S. and the concrete constructions decreased by more than 10%.
The market growth is also attributed to the rising long-term effectiveness, quick results, and easy application of liquid termiticides. Further, improper drainage, unrepaired pipes, less ventilation, and airflow into a house are estimated to increase the risk of termiticides and thereby drive the market growth during the forecast period. As of 2022, more than 95% of the basements in the U.S. households experience some kind of water damage and over 14 million homes are at risk to be flooded.
Growth Drivers
Challenges
The liquid termiticides cause water contamination when used near water bodies or water connection which is harmful to health and cause many complications. The complete destruction of termites is believed to cause repellent barriers in the environment which disrupts the cycle of life.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
6.1% |
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Base Year Market Size (2023) |
USD 2.12 Billion |
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Forecast Year Market Size (2036) |
USD 4.58 Billion |
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Regional Scope |
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Application (Pre-Construction, Post-Construction)
The post-construction segment in the liquid termiticides market is estimated to gain the largest revenue share of about 58% in the year 2036. The growth of the segment can be attributed to the increasing use of fall ceiling plywood and sheets, and stored wood items. The growing use of wooden doors and windows for homes and bathrooms is estimated to drive market segment growth during the forecast period. The wooden doors and windows value in the year 2020 was estimated to increase by more than 1% each year with the estimations to reach more than USD 13 billion in the U.S. The increasing use of cartons, books, and tissue papers for various applications in the kitchen is estimated to drive market segment growth. The number of tissues consumed worldwide as of 2021 was more than 40 million tons as per the estimations.
End-User (Domestic, Construction, Industrial)
Liquid termiticides market from the construction segment is expected to garner a significant share of around 28% in the year 2036. The rising urbanization across the world with increasing construction is estimated to propel market segment growth. The increasing number of construction buildings for residential purposes with rising migration rates is also estimated to drive the market segment growth in the coming years. The wooden furniture value across the globe was estimated to be more than USD 350 billion by the end of 2020 as per the estimations.
Our in-depth analysis of the global market includes the following segments:
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Application |
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End-User |
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North American Market Forecast
The liquid termiticides market in North America is projected to be the largest with a share of about 36% by the end of 2036. The growth of the market can be attributed majorly to the construction activities in the region. The construction industry in 2020 was estimated to reach more than USD 1 trillion in the U.S. The growing hospitals, and healthcare sector constructions are estimated to drive market growth during the forecast period. The healthcare expenditure of the U.S. in 2021 was estimated to increase to USD 4 trillion with a growth of 3%.
Moreover, termites are very common in the United States, which is further estimated to boost market growth.
APAC Market Statistics
The Asia Pacific liquid termiticides market is estimated to be the second largest, registering a share of about 25% by the end of 2036. The growth of the market can be attributed majorly to the increasing presence of major key players across the region. The increasing applications in various sectors across the region are estimated to drive market growth. The growing need for the maintenance of wood and other furniture is estimated to fuel the market growth. The number of wood constructions to prevent flood loss and earthquake losses during the forecast period. For instance, the construction industry in China amounted to USD 1,050 billion in 2020.
Moreover, the growing population in the countries, including, India, China, and Japan, is also projected to boost the market growth.
Author Credits: Rajrani Baghel
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