During the forecast period, the global agricultural grade zinc chemicals market is expected to generate US$ 1.3 billion, with a 5.4% CAGR. Growing government backing is expected to boost industry expansion in the coming years. In 2022, the industry is predicted to earn $760.0 million.
Growth and expansion of the agricultural business, particularly in developing nations, as well as fertilizer development, would generate profitable prospects for the agriculture grade zinc chemicals market. Furthermore, the increasing number of R&D by major manufacturers, as well as the use of zinc chemicals in agriculture, is the primary reason driving the growth of the agricultural grade zinc chemicals market.
The global agricultural grade zinc chemicals market is projected to benefit from the chemical fertilizer segment. Several rising economies are making major investments in their agricultural sectors, creating attractive prospects for market participants.
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- By application, the chemical fertilizer segment is expected to record a 5.4% CAGR by 2032
- By type, the zinc sulphate segment to expand at a 5.3% growth rate during the forecast period
- The U.S market to garner US$ 462.2 Million and record a 5.2% CAGR from 2022-2032
- Market in China to procure US$ 92.9 Million, expanding at a 4.8% growth rate during the assessment period
Eminent players of the global agricultural grade zinc chemicals market include UPL, Syngenta Crop Protection AG, IFFCO, Yara, and Zochem Inc. among others. Recent developments among players include:
- In June 2020 – IFFCO signed MoU with ICAR for collaborative research, testing & extension programs across the country for collaborative research, testing and validation of different products through ICAR institutes and Krishi Vigyan Kendras (KVKs). This will also enable these centers to disseminate technological advancements by imparting training, through awareness programs, campaigns, field trials and demonstrations for the benefit of farmers.
- In May 2021 – Yara, a leading crop nutrition solutions provider, announced the commercial launch of Agoro Carbon Alliance, a global business created for farmers to earn additional revenue from positive climate action. By adopting climate-positive practices farmers can produce Farm Carbon Credits or climate-smart certified crops and help to decarbonize food supply chains.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global agricultural grade zinc chemicals market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Type (Zinc Oxide, Zinc sulphate, EDTA chelated zinc, Sulphur Zinc Bentonite, Zinc chloride, Other), by Application(Animal feed, chemical fertilizer, others).