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Growing Demand For Industrial Crops Boosts The Diquat Dibromide Market For Enhanced Productivity: Strengthening the Growth Trajectory of the Diquat Dibromide Market
Diquat Dibromide Market
What Is the Expected CAGR for the Diquat Dibromide Market Through 2025?
The market size for diquat dibromide has seen a significant growth in the past few years. The growth projection indicates an increase from $7.75 billion in 2024 to $8.31 billion in 2025, equating to a compound annual growth rate (CAGR) of 7.3%. Factors such as global agricultural trends, research and development, environmental factors, crop yield and quality, agricultural methods, and pest control practices have contributed to this increase in the historic period.
What's the Projected Size of the Global Diquat Dibromide Market by 2029?
It is projected that the market size for diquat dibromide will experience a steady expansion in the subsequent years. It is set to increase to $10.48 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. Various factors like the necessity for crop protection, strategy for marketing expansion, evolving weed resistance, worldwide agricultural tendencies, and related research and development efforts contribute to the growth prediction in this period. The projection period also sees trends like its applications in aquatic settings, urban landscaping and maintenance tasks, demands for herbicides that don't leave residuals, management of resistance, and a focus on herbicides with quick action.
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Top Growth Drivers in the Diquat Dibromide Industry: What's Accelerating the Market?
The diquat dibromide market is projected to flourish due to the rising demand for industrial crops such as sugar cane. Also known as Saccharum officinarum, sugar cane is a tall grass indigenous to warm and tropical climates; it boasts a sturdy, jointed stalk and is the primary sugar source. Diquat, a non-discriminating herbicide, is known to affect a vast variety of plants on contact. It gets absorbed through the plant's leaves and results in direct cell tissue damage, enhancing crop productivity. For instance, the United States Department of Agriculture, a US-based governmental organization, reported in November 2022 that Australia's sugarcane production has been predicted to reach 33.0 million tons in 2022 due to an expanded harvested area, rising from 350,000 hectares in 2021 to 5,000 hectares in 2022. Consequently, the escalating demand for industrial crops is fueling the progression of the diquat dibromide market.
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What Trends Will Shape the Diquat Dibromide Market Through 2029 and Beyond?
The introduction of novel products is a primary trend catching momentum in the diquat dibromide sector. Top-tier firms present in the diquat dibromide marketplace are leveraging fresh techniques to maintain their standings. To illustrate, in June 2022, Ihara, a pesticide manufacturing firm headquartered in Brazil, unveiled DORAI MAX (Diquat dibromide + Amicarbazone) weed killer. This unique product is loaded with a newly discovered active ingredient for swift and effective operations. This advanced weed killer holds the potential for ensuring consistent crop ripening, reducing harvest deficits, machinery deterioration, and fuel consumption. It is distinctively fashioned to minimize the risk of grain exposure to pests and adverse environmental conditions, while facilitating the sowing of the second crop within a desirable time frame.
What Are the Main Segments in the Diquat Dibromide Market?
The diquat 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
Subsegments:
1) By Synthetic: Technical Grade Synthetic, Agricultural Grade Synthetic
2) By Bio-Based: Natural Extracts, Bio-Based Formulations
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Which Top Companies are Driving Growth in the Diquat Dibromide Market?
Major companies operating in the diquat dibromide market include 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, 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., Alligare LLC, YongNong BioSciences Co. LTD, Albaugh LLC, 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., Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Nissan Chemical Corporation, Nutrichem Company Limited, Shandong Luba Chemical Co. Ltd., Sharda Cropchem Limited, Willowood USA
Which Regions Will Dominate the Diquat Dibromide Market Through 2029?
North America was the largest region in the diquat dibromide market in 2024.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 diquat dibromide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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