Paraquat Market Size, Share, and COVID Impact Analysis, By Crop Type (Plantation Crops, Orchard Crops, Field Crops, and Others), and Regional Forecast, 2024-2032

Paraquat is a herbicide commonly used by farmers for protection against invasive weeds and grow important row crops such as soybeans, corn, and cotton. It helps reduce soil erosion and protect soil health, which is important for regenerative agriculture practices. It is one of the most commonly used herbicides for weed control in many countries.

The demand for paraquat is increasing in the market owing to the increasing awareness among farmers about the crop losses caused by unwanted crops. To reduce and avoid crop losses, paraquat is emerging as the latest solution to tackle weed-related damages. It helps to control weeds by killing them and provides excellent inter-row weed control without damaging plants. It gives the farmer the ability to safeguard their crops from harmful substances, resulting in increased yields and better-quality crop produce. Growing cultivation of row and horticultural crops, the ever-rising global population, and increasing yield rate in farming will further create lucrative growth opportunities for the market.

Impact of COVID-19 on the Paraquat Market

The spread of the COVID-19 pandemic radically changed the global market and significantly affected various industries, including paraquat and other herbicides. Heavy restrictions imposed during the pandemic moderately affected the market. China is one of the several key producers and suppliers of paraquat to many developed and developing countries. The COVID-19 pandemic affected the accessibility of crop protection products and increased their prices worldwide. This factor had an adverse impact, especially across high-income countries that were more exposed to disruptions in input supplies for their agricultural production processes than low-income countries.

Segmentation

Analysis by Crop Type

Based on crop type, the paraquat market is segmented into plantation crops, orchard crops, field crops, and others.

The plantation crop type segment held the largest share in the paraquat market. This can be attributed to the growing health consciousness of consumers. They want quality food products, which results in amplified consumption of a wide variety of products such as cereal and grains. An increase in the global food demand has compelled farmers to use paraquat for better agricultural output.

The orchard crops segment is witnessing a rise in paraquat usage. Developing regions such as the Asia Pacific offer opportunities for the paraquat market due to the presence of large arable lands in countries such as China, India, and others. Growing arable land and rising establishment of plantations are offering promising growth opportunities for the paraquat market.  

Key Insights

The report covers the following key insights:

• Overview of the Parent/Related Market


• Products Launched By Key Market Players – For Paraquat Market


• Key Trends in the Paraquat Market


• Supply Chain Landscape for Paraquat Market    


• Impact of COVID-19 on the Paraquat Market

Regional Analysis

The Asia Pacific region dominates the paraquat market and will continue its dominance over the coming years due to increasing usage of agricultural land area and a rise in agricultural activities. Increased use of modern agricultural and horticultural techniques and escalated spending on research and development by the local market players are other important factors driving the growth of this region. Additionally, the rising awareness about herbicides and technological progression are also vital factors contributing to the market.

The North America market is expected to witness significant growth due to a rise in the demand for herbicides that are effective in controlling weeds and unwanted plants in agricultural land. Therefore, there is a demand for efficient paraquat to safeguard crop protection and a focus on maximizing agricultural productivity to meet the expanding food demand

Key Players Covered

The report includes the profiles of key players such as UPL Ltd. (India), Dhanuka Agritech Ltd. (India), Syngenta Crop Protection AG (Switzerland), Bayer AG (Germany), AgFarm (India), Corteva (U.S.), ADAMA Agricultural Solutions Ltd. (Israel), Sinon Corporation (Taiwan), Willowood USA (U.S.), Hubei Sanonda Co., Ltd.(China), and others.

Key Industry Developments

• In December 2023, Crystal India announced its acquisition of the Gramoxone herbicide brand (active ingredient: paraquat) from Syngenta for use in the Indian market. Gramoxone is a broad-spectrum herbicide and its unique mode of action of rapid contact and non-root removal reduces soil and moisture loss and improves conservation tillage by conserving fertilizer and soil moisture.


• In October 2023, China's Xingfa Group announced that its wholly owned subsidiary, Xingfa Hong Kong Import & Export Co., Ltd., had been established and acquired 70% of the shares in Indonesian company AMCO. The company has a total of 36 trademark registrations and 42 pesticide product licenses and produces bottled herbicides, insecticides, fungicides, plant growth regulators, acaricides, and molluscicides, including aqueous paraquat and glyphosate solutions.