Overview and Scope
Diqat dibromide refers to a non-selective contact herbicide, algicide, desiccant, and defoliant with a slight smell used as a pesticide to manage aquatic plants and to desalinate water. Diquat dibromide limits photosynthesis by disrupting the thylakoid membranes of green cells and also inhibiting the function of the photosynthetic enzyme.
Sizing and Forecast
The diqat dibromide market size has grown strongly in recent years. It will grow from $7.23 billion in 2023 to $7.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to global agricultural trends, r&d and innovation, environmental concerns, crop yield and quality, agricultural practices, pest control practices.
The diqat dibromide market size is expected to see strong growth in the next few years. It will grow to $9.62 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to crop protection demand, market expansion strategies, emerging weed resistance, global agricultural trends, research and development. Major trends in the forecast period include usage in aquatic environments, urban landscaping and maintenance, demand for non-residual herbicides, resistance management, focus on fast action herbicides.
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Segmentation & Regional Insights
The diqat dibromide market covered in this report is segmented –
1) By Type: Synthetic, Bio-Based
2) By Corn Type: Corn, Wheat, Cotton, Soybean
3) By Form: Crystalline, Liquid
4) By End-User: Water Treatment, Agriculture, Other End Users
North America was the largest region in the diqat dibromide market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global diquat dibromide market report during the forecast period. The regions covered in the diqat dibromide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased demand for industrial crops such as sugar cane is expected to propel the growth of the diquat dibromide market going forward. Sugar cane refers to a tall grass called Saccharum officinarum that is native to tropical and warm climates, has a strong, jointed stalk, and is the main source of sugar. Diquat is a non-selective herbicide that kills or harm a wide range of plants when it meets them. It is absorbed by plant leaves and causes direct cell tissue destruction and increase the productive of the crops. For instance, in November 2022, according to the United States Department of Agriculture, a US-based government organization, Australia’s sugarcane production is estimated at 33.0 million tons in 2022 with the increase in harvested area from 350,000 hectares in 2021 to 5,000 hectares in 2022. Therefore, increased demand for industrial crops is driving the growth of the diquat dibromide market going forward.
Key Industry Players
Major companies operating in the diqat dibromide market report are Corteva Agriscience Inc., Coromandel International Limited., EverGrow Group, BASF SE, American Vanguard Corporation, Bayer CropScience SE, Nutrien Ltd., Agriculture Solutions Inc., Deepak Fertilizers and Petrochemicals Corporation Limited., Hafia Groups, Sapec Agro SA, Kugler Company, Yara International ASA, Israel Chemicals Limited., Van Iperen International B.V., U.S. AG LLC, Adama Agricultural Solutions, FMC Corporation, Syngenta International AG, Nufarm Limited, UPL Limited, Sumitomo Chemical Company Ltd., Aceto Corporation, Alligare LLC, YongNong BioSciences Co. LTD, Albaugh LLC, Chemtura Corporation, Dow AgroSciences LLC, DuPont de Nemours Inc., The Gowan Company LLC, Hubei Xianlong Chemical Industry Co. Ltd., Jiangsu Luye Agrochemicals Co. Ltd., Kenvos Biotech Co. Ltd., Lonza Group AG, Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Nissan Chemical Corporation, Nutrichem Company Limited, Shandong Luba Chemical Co. Ltd., Sharda Cropchem Limited, Willowood USA
The diquat dibromide market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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