Diquat Market

Diquat Market Outlook (2024 to 2034)

The global diquat market is projected value at US$ 2,305.5 million in 2024 and expand at a CAGR of 4.8% to end up at US$ 3,684.6 million by 2034.

Demand from agricultural, water treatment, and industrial sectors for diquat comes as diquat is now frequently used as a non-selective herbicide and pre-harvest desiccant mostly in agriculture. It satisfies the demand for speedy and effective weed control in this field. Diquat finds application in the water treatment industry because it is applied to control aquatic weeds, keeping the waterways clean and safe.

The industrial applications, such as roadside or non-crop area maintenance, also add to the growth in the market. However, the trends in the market are changing toward more environmentally friendly alternatives. This is driven by health concerns and growing regulation against the selling and use of diquat. Nonetheless, as an integral tool in areas of high agricultural intensity and lower environmental policies, diquat finds its place.

• Between 2024 and 2034, the end-use verticals in water treatment is expected to produce an absolute dollar opportunity US$ 796.2 million.
• In 2024, the diquat dibromide holding a 67.9% market share in the Diquat type are estimated to be worth US$ 1,565.5 million.

Report Attributes	Details
Market Size (2023A)	US$ 2,201.3 million
Estimated Market Value (2024E)	US$ 2,305.5 million
Forecasted Market Value (2034F)	US$ 3,684.6 million
Global Market Growth Rate (2024 to 2034)	4.8% CAGR
North America Market Share (2024E)	13.6%
East Asia Market Growth Rate (2024 to 2034)	5.1% CAGR
US Market Growth Rate (2024E)	5.5% CAGR
Key Companies Profiled	Aceto; Alligare; Syngenta; YongNong BioSciences Co., Ltd.; Other Prominent Players.

Sales Analysis of Diquat (2019 to 2023) vs. Market Forecasts (2024 to 2034)

The market for Diquat grew at a growth rate of 4.6% from 2019 to 2023, and by the end of 2023, it was valued at US$ 2,201.3 million. To stand out in the market, businesses place a high priority on product innovation and uniqueness through style of packaging, novel formulations, and targeted marketing campaigns. Diquat sales are impacted by global agricultural trends, weather patterns, and regulatory rules, which cause swings and make the market susceptible to changes.

Historical Report Attributes	Details
Market Size (2019A)	US$ 1,823.8 million
Market Size (2023A)	US$ 2,201.3 million
Historical CAGR (2019-2023)	4.6%
Forecasted CAGR (2024-2034)	4.8%

• Short Term (2024 to 2027): In a short time, the application of diquat in aquatic herbicides will continue to rise with increasing demand for water treatment solutions. Moreover, the market is expected to experience a more developed diquat-based product line for industrial applications, primarily in the construction and manufacturing industries. Competition will remain stringent as new entrants, such as YongNong BioSciences, jostle for a piece of the action.
• Medium Term (2027 to 2030): In medium term, while the market grows, product lines will be diversified and players will geo-expand. This could involve alliances with local distributors, investment in R&D, and geographical-specific marketing campaigns. Changes in trends across global agriculture, weather patterns, and regulatory policies will continue to influence the diquat market.
• Long Term (2030 to 2034): In long period, as the market becomes mature, players will be oriented towards the maintenance of respective market shares through innovative product offerings, effective distribution channels, and target-oriented marketing efforts. With an increased requirement for targeted crop management solutions, the application of diquat in precision farming will grow in the forecast period. An increased adoption of diquat-based products will also be recorded in the health and hygiene of livestock.

According to Fact.MR, the Diquat size is valued at US$ 2,305.5 million in 2024. Demand is projected to rise at a CAGR of 4.8% through 2034 to reach US$ 3,684.6 million by the end of the forecast period (2024 to 2034).

Market Dynamics

What driving forces influence the demand for diquat?

“Growing demand from agricultural applications for herbicides”

In 2024, the global Diquat market is projected to rise at a growth rate of 4.8%. This driving force designates the rising demand for herbicides in agriculture required for weed control and to enhance crop yield. Herbicides are most frequently applied for killing weeds that normally emerge from crops by taking water, nutrients, and sunlight. The raising demand of herbicides in agriculture applications is described by the following aspects: Growing global population and accordingly food demand. Greater adoption of precision agriculture and farming techniques; greater awareness about the role of weed management in the production process.

For example, In America corn or soybean products are in higher demand and require more use of herbicides because of proper weed control. As observed from USDA forecasts, growth rate projections for both corn and soybeans stand at about per cent annually for main crop production in the country between 2019 and 2023 hence leading to increased requirements for herbicides by farmers.

In 2024, the North America diquat net worth is calculated to be around US$ 312.6 million with a CAGR of 5.2%.

“Need for water conservation and aquatic herbicides is growing”

The growing need for aquatic herbicides, coupled with growing concern for water conservation, comes as the world becomes increasingly aware of the scarcity of water and protection of aquatic ecosystems. With the ever-growing population across the world, clean water will increasingly become a resource in high demand; therefore, water conservation assumes importance in sustainable development. Moreover, leisure activities such as boating, fishing, and swimming have increased dependence on public water bodies, and aquatic herbicides need to be applied in order to control aquatic weeds that impede these activities and to maintain the quality of the water.

For instance, the Singapore City has formulated a perfect water conservation plan whereby its reservoirs and waterways have been under the control of aquatic herbicides to reduce aquatic weeds so as to reduce the amount of water used for irrigation and industrial purposes, while at the same time, ensuring the health and safety of its citizens.

What are the Primary Constraints Faced by the Market Competitors for Diquat?

“Diquat Confronts Challenges of Stringent Regulations, Safety Concerns, and Intensifying Competition”

While being crucial, the global market has been under increasing challenges due to agriculture, water treatment, and industrial applications. Harsh regulatory environments, coupled with rising safety concerns, are leading the industry toward more sustainable alternatives. Moreover, intense competition and saturation have increased pressure on key players, affecting growth.

With tightened regulations and a heightened awareness of probable health risks, competitors offering eco-friendlier solutions gain traction. Notwithstanding such challenges, diquat continues to find a place in countries where these regulatory restrictions are not very strict and maintains its foothold in major end-use verticals. The European market has shrunk considerably due to strict regulations and safety measures, thereby embracing alternative herbicides that reduce the market share of diquat in that region.

Country-wise Insights

Country-wise Forecast CAGRs for the Diquat Market

Country	CAGR
U.S.	5.5%
China	5.1%
Japan	4.9%
South Korea	5.0%

Which countries expect to have a rise in demand for Diquat?

“Herbicides like diquat are in demand in the US as farmers seek to control weeds and improve crop yields"

From 2024 to 2034, As a way of improving weed control, herbicides are used in copious amounts by U.S. farmers in order to enhance demand, and it is relative to these demands is catered to through herbicides such as diquat. Applied as a nonselective herbicide for corn, soybeans, and cotton, diquat serves to regulate weeds that bring down crop yields. According to the U.S. Department of Agriculture, production of corn and soybean is estimated to increase by 2% per annum during the period of 2020-2025, thereby raising demand for diquat and other herbicides.

The size of the U.S. diquat market was US$ 163.7 million in 2019, with a projected CAGR of 5.5% up to 2023 and reach US$ 216.7 million by 2024. U.S. has very stringent controls over the use of Diquat, with the Environmental Protection Agency registering the herbicide under FIFRA. Safe use limits for Diquat have been put in place by the EPA, which states that it shall not exceed 1.9% concentration in water and a maximum allowance of 2.4 pounds per acre per application. The EPA has also prescribed certain dos and don'ts during the application, like avoiding the direct application into water bodies and ensuring that water treated with these chemicals is not used for sprinkling or any other purposes.

United States market will have a value of US$ 216.7 million by 2024, with a total absolute dollar opportunity worth US$ 153.2 million between 2024 and 2034.

Why is China potentially a profitable market for manufacturers of Diquat?

“Rice and wheat products are in high demand in China due to domestic consumption and exports”

The China market is expected to grow at a CAGR of 5.1%, during the projected period of 2024 to 2034. China is the world's largest producer and consumer of rice and wheat. Being in this almost dominant situation, this has created a massive demand for these products, spurred both by internal usage and exports. Indeed, FAO predicts rice consumption in China will rise by 2% per year from 2020 to 2025, and wheat will grow by 1.5% per year in this same period. This increased use drives up the use of herbicides such as diquat, essential in weed management in rice and wheat fields.

For instance, the market for diquat in China would touch US$ 383.7 million by 2024, growing at a CAGR of 5.1% during 2024-2034. All of these have amounted to the growth in demand for herbicides for use in rice and wheat. In addition, the demand for diquat and other herbicides is also being escalated by initiatives taken by the Chinese government to increase the production of food within the country and reduce the dependencies on imports.

By 2034, the market for China diquat is projected to be worth US$ 633.3 million.

Category-wise Insights

Which end-use verticals segments plan to generate high demand for Diquat?

“Sustainable Solutions in Water Quality: Growing Demand for Diquat in Water Treatment”

The market was driven by the use of the water treatment end-use verticals segment enabling a growth rate of 5.0% in 2024. The demand for diquat in water treatment is rising since the water treatment plants look out for some sustainable solution to sustain high-quality water. Since diquat controls the growth of algae and improvises on water quality, water treatment plants across the globe look forward to using it. Second, it provides fast disinfection and long-term algae control, thereby reducing the frequency of chemical treatments and hence making the process more sustainable.

For instance, the City of Los Angeles Water Department applied diquat to control the growth of algae in their water reservoirs. The department stated that upon implementing diquat treatment in their regime, a significant decrease in algae growth and an improvement in water quality were observed. This does not only improve the aesthetic value of water but also reduces the risk of contamination, hence improving public health. With the continuous sustainability of water treatment plants, demand for diquat is projected to increase accordingly.

According to projections, the worldwide water treatment end-use verticals category will generate value of US$ 1,263.4 million by 2024.

Why is the fastest growth expected in Diquat Dibromide?

“Diquat dibromide: The most efficient and cheap solution for controlling weeds and algae”

The Diquat Dibromides type sector, will hold a 67.9% market share of the worldwide market by 2024. Diquat dibromide, known for its high efficiency and cost-effectiveness in controlling a wide spectrum of weeds and algae, is the most widely used product for agriculture, water treatment, and industrial purposes. High-speed action and adaptability allow its use under different environmental conditions; it targets unwanted vegetation with high efficiency in both crop fields and aquatic systems. The ability of this herbicide to quickly desiccate or kill rapidly growing plant tissue has made it an essential tool for agricultural and water management practitioners in obtaining reliable results more economically.

In the United States, for example, Diquat Dibromide is widely applied to irrigation canals and reservoirs to control algae and unwanted submerged or emergent aquatic plants to keep the flow of clean water moving and to save the water-utility industry millions of dollars in structural and mechanical control measures.

In 2024, the global diquat market for diquat dibromides type segment will generate a net worth of US$ 1,565.5 million.

Competitive Landscape

The market growth for Diquat is being driven by leading companies such as Aceto, Alligare, Syngenta, and YongNong BioSciences CO., Ltd.

These important companies used a variety of primary strategies, such as product releases, mergers and acquisitions, expansions, and deals, to strengthen their positions in the Diquat market. Major attention was paid to the deals and expansions.

As an instance :

• In March 2024, Syngenta introduced a novel diquat formulation to raise crop desiccation efficiency while bringing down the environmental impact and farmer exposure.
• In July 2023, Aceto, one of the largest manufacturers of Diquat-based herbicides, augmented its capacity to keep up with the rapidly growing global demand for the herbicide, driven primarily by rising requirements for weed control in agriculture and landscaping.

Fact.MR has provided detailed information about the price points of key manufacturers of diquat positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Diquat Market

• By Product Type :

  • Diquat Dibromide
  • Diquat Dichloride

• By Form :

  • Crystalline
  • Liquid

• By End-Use Verticals :

  • Water Treatment
  • Agriculture
  • Others

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa