New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Diqat Dibromide Global Market Report 2023" - https://www.reportlinker.com/p06479997/?utm_source=GNW
, Deepak Fertilizers and Petrochemicals Corporation Limited., Hafia Groups, Sapec Agro SA, Kugler Company, Yara International ASA, Israel Chemicals Limited., Van Iperen International B.V., and U.S. AG LLC.
The global diquat dibromide market is expected to grow from $6.69 billion in 2022 to $7.23 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The diquat dibromide market is expected to reach $9.01 billion in 2027 at a CAGR of 5.7%.
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.
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.
North America was the largest region in the diqat dibromide market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in diquat dibromide report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main diqat dibromide types are synthetic, and bio-based.Synthetic refers to a chemical molecule synthesized artificially.
The various corn types are corn, wheat, cotton, and soybean, that comes into various forms that includes crystalline, and liquid. The end-users are water treatment, agriculture, and others.
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 automated harvesting systems market going forward.
Product innovations are a key trend gaining popularity in the diquat dibromide market.Major companies operating in the diquat dibromide market are adopting new technologies to sustain their position in the market.
For instance, in June 2022, Ihara, a Brazil-based manufacturer of pesticides, launched DORAI MAX (Diquat dibromide + Amicarbazone) herbicide.It is uniquely designed with a new active ingredient that enables quick and efficient action.
The new herbicide makes it possible for maintaining consistent maturity and decreases harvest losses, machine wear, and fuel usage. It is uniquely designed to reduce the exposure of grains to the attack of crop detractors and environmental variations and allows to plant of the second crop within an ideal window.
Rising soil contamination is expected to propel the growth of the diquat dibromide market.Soil contamination refers to the presence of pollutants in the soil at a level that causes one or more soil functions to deteriorate or disappear.
Diquat dibromide binds strongly with soil and contaminate groundwater and nearby streams to help aid harvesting, and for aquatic weed control. For instance, in December 2022, according to the European Environment Agency, a Denmark-based government organization, around 40% of the world’s population, or at least 3.2 billion people, are currently impacted by the deterioration of land and soils. Further, in the European Union, there are thought to be 2.8 million sites that could be poisoned. Remediation of polluted sites is anticipated to cost 119 billion euros (US$ 130.64 billion) annually, and by 2050, it is projected to increase to 95%. Therefore, rising soil contamination is driving the growth of the automated harvesting systems market going forward.
The countries covered in the diquat dibromide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The diqat dibromide market research report is one of a series of new reports that 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.
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