Global Paraquat Dichloride Market - 2023-2030

Global Paraquat Dichloride Market - 2023-2030

Global Paraquat Dichloride Market reached US$ 101.2 million in 2022 and is expected to reach US$ 131.2 million by 2030, growing with a CAGR of 3.3% during the forecast period 2023-2030.

The ability of paraquat dichloride to effectively eradicate a variety of weeds makes it an extensively used herbicide in agriculture. Effective weed management is constantly required as agricultural techniques across the world change in order to guarantee greater crop yields. The need for herbicides like paraquat dichloride is fueled by this.

The use of paraquat dichloride in agriculture is the primary component riding the compound's increase. Food intake is expected to increase by way of 70% by 2050 due to the lower population's upward thrust. According to a UN report, 9.9% of the world's population still experiences starvation, making the concept of providing meals for more or less 10 billion people a hard task.

Dynamics

Growing Demand for Non-Selective Herbicides

As a non-selective herbicide, paraquat dichloride destroys any plants with which it comes into contact. As a result, farmers need to rapidly and efficiently eliminate weeds without endangering their crops frequently use it. In addition, one of the most extensively utilized commercial herbicides right now in the US is paraquat dichloride. When used in accordance with label instructions, paraquat is a safe and reliable herbicide.

Additionally, paraquat dichloride is utilized to manage grasses, weeds, and weeds with wide leaves. For instance, Ozone (Paraquat Dichloride 24% SL) from Dhanuka Agritech Ltd. is a broad spectrum, nonselective, and contact herbicide with 24% Paraquat dichloride that efficiently eradicates grasses and broadleaved weeds. Superoxide is produced during photosynthesis, and it damages cell membranes and cytoplasm.

Low Cost with the Use of Various Applications

Due to its affordability and versatility, paraquat dichloride is a cost-effective herbicide. It works well against a variety of weeds, including annual grasses, broadleaf weeds, and woody plants. It can be used to immediately destroy weeds because of its rather quick action. Paraquat dichloride is a weed killer that is used in agriculture to manage weeds in crops including cotton, maize, and soybeans. In orchards and vineyards, it is also employed to manage weeds.

Paraquat dichloride also has a low price and a wide range of applications. For instance, Katyayani Organics charges 390 INR per liter for their Katyayani Clearance Paraquat Dichloride 24% SL product. It is a broad-spectrum, non-selective, contact herbicide that efficiently eradicates grasses and weeds with broadleaf leaves. Broad-leaved weeds and grasses are controlled using the Katyayani Clearance method in plantation crops like bananas, tea, coffee, cocoa palms, coconut palms, oil palms, rubber, and citrus fruit orchards. It is used for cotton, tea, potato, and coffee crops to eradicate weeds such as Imperata, Setaria sp., Commelina benghalensis, Boerrharia hispida, and Paspalum conjugatum.

Paraquat Dichloride Usage has Potential Health Risks

A poisonous substance known as paraquat is frequently applied as a herbicide (plant killer), mainly to eradicate weeds and grass. Paraquat is mostly offered as a liquid in different strengths in the US. Paraquat is designated as a restricted-use substance by the US Environmental Protection Agency. This indicates that only individuals who are authorized applicators may use it.

The use of the very hazardous pesticide paraquat dichloride is also prohibited in several nations. For instance, in a letter to all district agricultural officials, the directorate of agriculture and food production of the Indian state of Odisha requested that they inform farmers about the ban on the use of glyphosate and Paraquat dichloride. Furthermore, the physicians intend to use the pesticide paraquat on June 21, 2023. When taken, paraquat has no cure and results in an agonizing death. However, the government has been slow to outlaw the lethal chemical.

Segment Analysis

The global paraquat dichloride market is segmented based on purity, crop, distribution channel, application and region

Increasing Use of Paraquat Dichloride as Herbicides

Paraquat Dichloride is a substantially used herbicide because of the growing use of paraquat dichloride as a herbicide for the protection of agricultural vegetation from weeds. For example, in step with the Pesticide Action Network Europe, around 3,50,000 heaps of herbicides were sold in Europe in 2019, with the bulk of their utilization inside the agricultural region. According to the General Administration of Customs in China, the full manufacturing volume of herbicides and different agrochemicals reached 1,635,800 heaps in 2021, representing a growth of 11.4% year on year.

Moreover, recent insights from the Ministry of Commerce, India state that the whole production of agrochemicals along with herbicides reached 163,000 tons in India in 2021, a growth of 11.9% in evaluation to 2020. Furthermore, China noticed a 58.5% increase in exported herbicides, worth 7.817 billion in 2022 compared to the preceding year according to the International Trade Centre. Hence, such surging production of herbicides in multiple areas internationally is predicted to boost the paraquat dichloride market growth.

Geographical Penetration

Asia Pacific Dominates the Paraquat Dichloride Market

The agriculture industry in the Asia-Pacific vicinity holds a dominant position within the market for paraquat dichloride. This particular place studies excessive usage of paraquat dichloride due to the growing demand from the agricultural region.

Furthermore, the Asian Development Bank (ADB) has announced its purpose to allocate not less than $14 billion between 2022 and 2025 to put into effect complete help packages. The intention is to deal with the escalating meal crisis in Asia and the Pacific, at the same time as additionally enhancing long-term meal safety. These efforts will recognize on strengthen the resilience of food structures in opposition to the impacts of climate change and biodiversity loss. As a result, the demand for paraquat dichloride within the Asia-Pacific vicinity is anticipated to rise throughout the projected period because of the growing meal crisis and the following need for increased food manufacturing.

Competitive Landscape

The major global players include Kalyani Industries Limited, Syngenta, SIGMA-ALDRICH CO. LLC, CANARY AGRO CHEMICALS PVT. LTD., SinoHarvest, Rain Bio Tech Industries, Katyayani Organics, Parijat Industries India Pvt. Ltd., DHANUKA AGRITECH LTD. and AgFarm India Pvt Ltd

COVID-19 Impact Analysis

COVID Impact Analysis

The market for paraquat dichloride, which is mostly used in agriculture, was significantly impacted by the COVID-19 epidemic in a number of ways. The pandemic first affected the availability of herbicides like Paraquat Dichloride by upsetting global supply lines and creating logistical difficulties. As a result, there was uncertainty in the agricultural industry, and some farmers had trouble getting crucial inputs on time. Additionally, labor shortages and lockdowns in different areas hampered agricultural activity, perhaps causing changes in planting dates and, as a result, adjustments in the need for herbicides.

Some governments implemented programs to assist farmers in the wake of the epidemic, including subsidies, financing options, and incentives for crop production, which could have prevented interruptions in the demand for herbicides. The demand for paraquat dichloride may have increased again as farmers attempted to optimize their yields in response to the changing scenario, particularly in areas where food security became a concern.

Russia-Ukraine War Impact Analysis

Due largely to Ukraine's important position in world agriculture, the Russia-Ukraine conflict has had a noticeable effect on the market for paraquat dichloride. Ukraine is a large producer of crops including corn, wheat, and sunflower, all of which frequently require herbicides like paraquat dichloride for weed control. Herbicide demand has been impacted as a result of the conflict's disruption of Ukraine's agricultural supply chain, which has delayed planting and harvesting.

Additionally, the herbicide market may be impacted by how the crisis affects Ukraine's regulatory framework. As the nation deals with the disruptions in its agricultural industry, adjustments in rules, permissions, or oversight pertaining to herbicide use may be made. The demand and supply for Paraquat Dichloride and other herbicides in the area are also impacted by these regulatory changes.

By Purity
• Less than 90%
• 90% to 94%
• 95% to 99%
• More than 99%

By Crop
• Row Crops

Cereal Grains

Soybeans

Sugarcane

Cotton

Others
• Horticulture Crops

Apples

Banana

Watermelons

Pineapple

Others
• Vegetables

Tomato

Potato

Onions

Carrot

Others
• Plantation Crops

Coffee

Cocoa

Others
• Others

By Distribution Channel
• E-Commerce
• Specialty Stores
• Hypermarket/Supermarket
• Others

By Application
• Herbicides
• Defoliant
• Desiccant
• Plant Growth Regulators

By Region
• North America

U.S.

Canada

Mexico
• Europe

Germany

UK

France

Italy

Russia

Rest of Europe
• South America

Brazil

Argentina

Rest of South America
• Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific
• Middle East and Africa

Why Purchase the Report?
• To visualize the global paraquat dichloride market segmentation based on purity, crop, distribution channel, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of paraquat dichloride market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global paraquat dichloride market report would provide approximately 69 tables, 73 figures and 189 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies