Liquid Termiticides Market - Regional Analysis
North American Market Insights
North America industry is likely to dominate majority revenue share of 36% by 2035. 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 Insights
The Asia Pacific liquid termiticides market is estimated to be the second largest, registering a share of about 25% by the end of 2035. 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.
