Agricultural Chelates Market Poised for Robust Growth, Fueled by Increasing Demand for Micronutrient-enriched Crops
In a comprehensive analysis of the Chelates Market, the global industry is set to experience significant growth, with a projected Compound Annual Growth Rate (CAGR) of 6.45% over the forecast period. The market, valued at US$ 0.68 Bn in 2022, explores various segments including type, micronutrients, and regions.
Market Dynamics: Enhancing Agricultural Performance Through Chelates
Agricultural chelates, crucial components in fertilizers, are anticipated to play a pivotal role in enhancing crop yields. Various chelates such as EDTA, DTPA, and EDDHA are applied in farming applications to improve the efficiency of micronutrients like iron, zinc, copper, and manganese, ultimately boosting crop production. The global agricultural sector is witnessing significant support from governments, exemplified by initiatives like the Pradhan Mantri Kisan Samman Nidhi in India, contributing to the growth of the Agricultural Chelates market.
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Chelates Market Scope:
Chelates market report is an ultimate guideline for business development and provides the user with ins and outs of the industry whether a user is an investor, business owner, or wants to start a business in the same industry.
Analysis in the report is conducted using widely used and trusted tools such as SWOT, and PESTLE analysis, which gives an analysis of the impacts such as political, social-cultural, economic, technological, and environmental impacts, also can build strategic planning and management using this analysis.
The report is designed in such a manner that it provides the readers the appropriate and up-to-date market data in graphical and tabular forms.
Key Trends Driving Growth: Industry Players Strengthening Positions
Several key trends are shaping the Chelates market, including strategic moves by industry players:
- In June 2022, BASF SE expanded its value chain for chelating agents in Ludwigshafen, Germany, aiming to increase its market share in Europe.
- Nouryon’s agreement with Itaconix Corporation in January 2022 for the marketing and distribution of bio-based polymers with chelating properties.
- Vallagro S.P.A’s collaboration with Marrone Bio Innovations in July 2022, focusing on integrating microorganisms and plant nutritional products to enhance crop productivity.
- Nouryon’s cooperation with INEOS Nitriles in April 2022, enabling the expansion of biodegradable chelates used in various industries.
Chelates Market Segmentation:
by Micronutrients
• Iron
• Zinc
• Manganese
• Others
The iron, zinc, manganese, and others segments of the chelates market are based on micronutrients. In 2022, the iron segment accounted for 41% of the market, the largest share. The factors that can be linked to many consumers point to a diet that is richer in nutrients, which has increased the amount of iron-based crop development for farmers in the market for agricultural chelates.
by Type
• Ethylenediamine Tetraacetic Acid (EDTA)
• Diethylenetriaminepentaacetic Acid or Pentetic Acid (DTPA)
• Ethylenediamine-N, N’- Bis (2-Hydroxyphenylacetic Acid) (EDDHA)
• Others
Ethylenediamine Tetraacetic Acid (EDTA), Diethylenetriamine Pentaacetic Acid or Pentetic Acid (DTPA), Ethylenediamine-N, N’- Bis (2-Hydroxyphenylacetic Acid) (EDDHA), and Others are the segments of the chelates market based on type. During the forecast period, the EDTA agricultural chelates segment is expected to experience the highest compound annual growth rate. The elements that are responsible for the high plant absorption of micronutrients and their potent binding capacity when combined with vital micronutrients such as iron (Fe), zinc (Zn), copper (Cu), and manganese (Mn) enhance crop development, which in turn accelerates the market for this particular segment.
Major Players:
• Aries Agro Ltd.
• BASF SE
• Greensmiths, Inc.
• Haifa Chemicals
• Nufarm Ltd
• Syngenta AG
• The Andersons, Inc.
• The Dow Chemical Company
• Wilbur-Ellis Company Inc
• Nouryon, Valagro SPA
• Yara International Asa
• BMS Micro-Nutrients
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Regional Analysis:
As Chelates market tends to rapid growth within the forecast period, the MMR report is structured to support that volatility with a regional analysis of the market.
Regional market analysis helps to understand the regional potential of the industry with detailed data that shows the traditional way of business, regional opportunities, trading chains, challenges and others.
This report is the ultimate guide for a new player in the industry to know the regional market competition, challenges, and advantages, to build their strategies and plans accordingly.
Key Questions answered in the Chelates Market Report are:
- What is Chelates Market?
- What is the forecast period of the Chelates Market?
- What is the competitive scenario of the Chelates market?
- Which region held the largest market share in the Chelates Market?
- What are the opportunities for the Chelates Market?
- What factors are affecting the Chelates market growth?
- Who are the key players of the Chelates market?
- Which company held the largest share in the Chelates market?
- What will be the CAGR of the Chelates market during the forecast period?
- What key trends are likely to emerge in the Chelates market in the coming years?
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