Micronutrients are essential agriculture for increasing the yield and enhancing the quality of agricultural produce
Hyderabad, India -- (SBWIRE) -- 03/16/2018 -- Metal ions are essential minerals needed by the plants in little quantities, thus, additionally referred as micronutrients. Deficiency of minerals in the plants resulted in yellowing of leaves and slow plant growth. Chelated compounds are more stable as compared to non-chelated compounds, so they are widely chosen in the agricultural use. They act as micronutrient fertilizers and nourish plants with minerals like zinc, iron, copper, and manganese.
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The Global Agricultural Chelates Market is anticipated to grow at 6.7% CAGR from the value of USD 445.64 million in 2016 and is predicted to achieve USD 616.32 million by 2021. Increasing use of agricultural chelates to reinforce crop productivity is the major driver of the global Agricultural Chelate market.
Rising government support for developing agricultural technology is projected to propel the world agricultural chelates market growth. The global market possesses moderate competition due to the presence of a variety of small and large-scale companies. Firms adopting ways for better market share through mergers and acquisitions can impact the global market in a positive manner.
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Soil application in the agricultural chelates market is growing as soil nutrition is critical in enhancing the productivity of crops. Crops witness a usual deficiency of iron and so chelated iron micronutrients are applied to the soil to produce the necessary quantity of nutrition for an increased crop production. Product innovation might influence the world agricultural chelates market in the next few years, whereas high scope from developing regions can probably open up new growth opportunities.
Asia-Pacific is the region that contributes the largest share to the global market, with the region being the biggest user of agricultural chelates. North America region is supposed to see a good growth rate because of the increasing use of chelates in Mexico.
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The leading companies in the current industry include Syngenta AG, AkzoNobel N.V., and Nufarm Ltd., Deretil Agronutritional, Shandong IRO Chelating Chemicals Co. Ltd., Protex International, lagro SPA and Van Iperen International.
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