Global Agricultural Chelates Market: Overview
Metal ions are essential minerals required by the plants in small quantities; hence, it is also referred as micronutrients. Deficiency of minerals in the plants resulted into yellowing of leaves and retarded plant growth. Chelated compounds are more stable as compared to non-chelated compounds; therefore, they are widely preferred in the agricultural use. They act as micronutrient fertilizers and nourish plants with minerals such as zinc, iron, copper, and manganese. Some of the most popular chelates are EDDHA, EDTA, and DTPA. Agricultural industries, farmers, and crop producers are the major end-users of agricultural chelates.
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Global Agricultural Chelates Market: Segmentation
The global agricultural chelates market is classified based on the application, crop type, product type, and geography. The application segment includes foliar sprays, soil, hydroponics, seed dressing, and others. The crop type segment comprises oilseeds & pulses, fruits and vegetables, cereals & grains, and others. Moreover, the product type is categorized as EDDHA, IDHA, DTPA, EDTA, and others. North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa are included in the geography segment of the global agricultural chelates market.
Global Agricultural Chelates Market: Growth Factors
Increasing use of agricultural chelates to enhance crop productivity is the major driver of the global market. Other factors responsible for the growth of the market are micronutrient deficiency, soil degradation, and shrinking of farmland. Product innovation may influence the global agricultural chelates market in the coming years, whereas high scope from developing regions may open up new growth opportunities. Rising government support for developing agricultural technology is projected to propel the global agricultural chelates market growth. The global market possesses moderate competition owing to the presence of a number of small- and large-scale firms. Companies adopting strategies for high market share through mergers and acquisitions, collaborations, partnerships, product launches may impact the global market in a positive way. Conversely, increasing concerns regarding non-biodegradable chelates and micronutrient toxicity may hinder the global agricultural chelates market growth.
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Global Agricultural Chelates Market: Regional Analysis
Europe accounted for the largest share for agricultural chelates market. Growth in the market is due to soil degradation and micronutrient deficiency in the crop. North America ranks second owing to the adoption of the modern agricultural practices in this region, which may foster the global agricultural chelates market growth. Asia Pacific is emerging as a major contributor to the global economy. Major players across the world are focusing on establishing their base in this region. Furthermore, government support in Thailand, China, and India for improving agricultural technology is anticipated to contribute to the growth of the global market in future.
Global Agricultural Chelates Market: Competitive Players
Major players dominating the global agricultural chelates market are BASF SE, Syngenta AG, Valagro SPA, Haifa Chemicals Ltd., and Nufarm Limited. Other players influencing the global market are Van Iperen International, Akzo Nobel N.V., Nutra-Flo Company, and Protex International.
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Global Agricultural Chelates Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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