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 very stable in soil but degrades rapidly in aquatic environments. 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.
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.
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.
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.
