Liquid Termiticides Market Size

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.