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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.
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.
By Crop Type | By Geography |
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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.
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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
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.
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