Diquat Dibromide Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Diquat Dibromide Market is segmented By Type (Synthetic, Bio-based), By Crop Type (Corn, Wheat, Cotton, Soybean, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023 - 2030

Diquat Dibromide Market Overview

Global Diquat Dibromide market to grow at a high CAGR Of 6% during the forecast period 2023- 2030. It is very stable in soil but degrades rapidly in aquatic environments.Diquat dibromide is a desiccant contact and an herbicide authorized by the EU.

It is highly water-soluble, has a low chance of leaching into groundwater, and is volatile. It is used to desiccate potato vines and seed crops, to control sugarcane growing, and to control industrial and aquatic weeds. It is not residual; that is, there is no residue of herbicide left on or in plants, soil, or water. The competitive rivalry intensifies with BASF SE, FMC Corporation., Nufarm Limited, and others operating in the market. Moreover, the low availability of arable land and higher consumption of plant-based products opens the doors for new players along with the lucrative opportunities for the existing market players in the global Diquat Dibromide market. 

Diquat Dibromide Market Summary

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Diquat Dibromide Market Dynamics

The growing need for improving agricultural yield owing to surging food demand and reducing arable land is the major factor driving the global Diquat Dibromide market. Arable land is constantly declining with urbanization, soil degradation, climatic changes, and some other factors. This has resulted in the need for enhancing agricultural productivity, thereby driven the use of effective farming materials. Moreover, the growing need for pest management in agriculture owing to quality concerns of agricultural produce is further boosting the demand for diquat dibromide across the globe. Additionally, increasing labor costs and a labor shortage are also supporting the growth of the global Diquat Dibromide market.

However, stringent government regulations imposed over the usage of specific herbicides due to their adverse environmental and human health effects are the major factor hindering the growth of the global Diquat Dibromide Market. In October 2018, the EU Commission has decided not to renew the approval of diquat based on concerns related to the exposure of bystanders, residents, and birds.

Diquat Dibromide Market Segmentation Analysis

The global Diquat Dibromide market is segmented by type into synthetic and bio-based. Synthetic is by far the largest segment holding a high of the global market. There is an increase in the awareness for alternative methods of weed control and bio-based pesticides owing to a rise in health concerns and adverse effects on the environment.

Diquat Dibromide Market Geographical Share

By geography, Asia Pacific is the largest market for Diquat Dibromide, owing to large scale utilization of diquat dibromide in wheat, corn, rice, and other crops. The declining availability of agricultural labor and shift towards precision farming practices is resulting in the rapid transition of manual weed control towards crop protection chemicals. India and China are leading the diquat dibromide consumption in this region and are expected to hold their dominance over the forecast period.

Diquat Dibromide Market Companies

The global Diquat Dibromide market is consolidated with the top 5 companies accounting for a major share of global sales. BASE SE, Bayer CropScience, Corteva Agriscience, American Vanguard Corporation, and Bayer AG are dominating the global Diquat Dibromide market. These companies have used various strategies such as expansions, new product launches, agreements, partnerships, joint ventures, acquisitions, and others to increase their footprints in this market.