Diqat Dibromide Global Market Report 2024

The diqat dibromide market 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 expansion observed in the historical period can be attributed to several factors, including global agricultural trends, research and development (R&D) initiatives, innovation in the agricultural sector, heightened environmental concerns, a focus on crop yield and quality improvement, and advancements in agricultural practices and pest control methods. These elements collectively contributed to the growth witnessed during this timeframe.

The diqat dibromide market 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 anticipated growth in the forecast period can be attributed to several factors, including the demand for crop protection, strategic market expansion initiatives, the emergence of weed resistance, global agricultural trends, and ongoing research and development efforts. Key trends expected in this period include the utilization of diquat dibromide in aquatic environments, applications in urban landscaping and maintenance, a growing demand for non-residual herbicides, emphasis on resistance management, and a focus on fast-action herbicides. These trends are projected to contribute significantly to the growth of the diquat dibromide market in the forecasted timeframe.

The diquat dibromide market is expected to experience growth, propelled by the increased demand for industrial crops, particularly sugar cane. Sugar cane, a tall grass native to tropical and warm climates, is a primary source of sugar. Diquat dibromide, being a non-selective herbicide, plays a crucial role in the cultivation of industrial crops such as sugar cane. It is absorbed by plant leaves, leading to direct cell tissue destruction and ultimately increasing crop productivity. For instance, as of November 2022, the United States Department of Agriculture reported an estimated sugarcane production of 33.0 million tons in Australia for the year 2022, reflecting a significant increase in harvested area from 350,000 hectares in 2021 to 5,000 hectares in 2022. This surge in industrial crop demand, particularly for sugar cane, is identified as a driving factor for the diquat dibromide market.

The increasing demand for agricultural production is anticipated to contribute to the growth of the diquat dibromide market. Agricultural production involves diverse activities such as soil cultivation, planting, harvesting, and livestock breeding, with the aim of yielding food, fiber, and various other products. Diquat dibromide is used as an herbicide in agriculture to control and manage weed growth across different crops. For instance, as of July 2023, the UK government reported an 11% increase in harvested wheat production in 2021, reaching just over 15.5 million metric tons compared to the previous year. This growth in agricultural production is indicative of the rising demand for diquat dibromide as a weed control solution, contributing to the market's forward momentum.

The growth of the diquat dibromide market is expected to be propelled by the increasing issue of soil contamination. Soil contamination, defined as the presence of pollutants in the soil leading to the deterioration or disappearance of one or more soil functions, is a concerning global problem. Diquat dibromide, due to its strong binding with soil, is utilized to aid harvesting and control aquatic weeds, contributing to the management of soil contamination. The European Environment Agency reported in December 2022 that approximately 40% of the world's population, or at least 3.2 billion people, is impacted by the deterioration of land and soils. In the European Union alone, there are an estimated 2.8 million sites that could be contaminated, and the remediation of these sites is projected to cost 119 billion euros annually, with an expected increase to 95% by 2050. This scenario underscores the significance of diquat dibromide in addressing soil contamination issues, driving its market growth.

Product innovation is a noteworthy trend in the diquat dibromide market, with major companies adopting new technologies to enhance their market position. An example of this trend is Ihara, a Brazil-based pesticide manufacturer, which launched DORAI MAX (Diquat dibromide + Amicarbazone) herbicide in June 2022. This herbicide, designed with a new active ingredient, facilitates quick and efficient action, maintaining consistent maturity while reducing harvest losses, machine wear, and fuel usage. It addresses challenges such as exposure of grains to crop detractors and environmental variations, allowing for optimal planting of the second crop within an ideal window.

Major companies in the diquat dibromide market are focusing on the development of habitat aqua herbicides, offering effective solutions for invasive weed control. Habitat Aqua, launched by BASF SE in July 2021, is an herbicide designed to combat invasive weeds threatening natural habitats across Canada, providing control over tough-to-manage species such as phragmites, cordgrasses, flowering rushes, and knotweeds. This innovation addresses the need for targeted and efficient solutions in invasive weed management.

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.

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. The countries covered in the diqat dibromide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are two main types of diquat dibromide, synthetic and bio-based. Synthetic diquat dibromide refers to a chemically synthesized molecule, created artificially. The various crops targeted by diquat dibromide include corn, wheat, cotton, and soybean, and it is available in different forms such as crystalline and liquid. The end-users of diquat dibromide encompass water treatment, agriculture, and other related sectors.

The diqat dibromide market research report provides diqat dibromide market statistics, including diqat dibromide industry global market size, regional shares, competitors with a diqat dibromide market share, detailed diqat dibromide market segments, market trends and opportunities, and any further data you may need to thrive in the diqat dibromide industry. This diqat dibromide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The diquat dibromide market consists of sales of diquat dibromide and diquat dichloride. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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