Chelate Fertilizers Market: Introduction
Chelates have a large organic molecule (ligand/chelator) that encircles a metal nutrient ion. There may be natural or synthetic chemical ligands. A chelated fertilizer is formed when these ligands combine with a micronutrient. Chelate fertilizers tend to improve the micronutrient bioavailability such as iron, copper, manganese, zinc, etc. that further improves the commercial crop production. Chelate fertilizers tend to have a greater impact than regular micronutrients for improving the crop yield. Hence, the global chelate fertilizers market is estimated to rise with a lower double digit CAGR over the forecast period of 2019-2029. Initiatives of the key players towards expanding their production capacities of chelate fertilizers is identified as a recent trend in the chelate fertilizers market. For instance, in June 2019, BASF made a double digit investment for strengthening its value chain of chelating agents and advancement of the product portfolio. The investment was made in Ludwigshafen, Germany and the company has expanded its capacities in Theodore, Alabama, and Ludwigshafen in the recent past. In addition, in June 2017, AkzoNobel (now Nouryon) was planning to invest US$ 11.09 in the expansion of its chelated micronutrients. The company made this move on the backdrop of rapidly increasing demand for chelate fertilizers. Moreover, increasing population, positive government stance towards agriculture industry, and activeness of the key players towards offering advanced products are some of the factors triggering the global chelate fertilizers market.
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Increasing Agricultural Production to Open Avenues for the Chelate Fertilizers Market
Agricultural production is rising at a global level over the past few years owing to increased in food demand, rising population estimates, and positive government stance towards the agriculture industry. Chelate fertilizers play an important role in improving the crop yield. Also, the trend of GMO crops is leveraging huge adoption opportunities for chelate fertilizers, thereby, driving the market growth over the forecast period.
Chelate Fertilizers Market: Segmentation
The global chelate fertilizers market is bifurcated into four major segments: source, type, application, and region.
On the basis of source, the global chelate fertilizers market is divided into:
Natural chelates
Synthetic chelates
On the basis of type, the global chelate fertilizers market is divided into:
Primary Nutrients
Secondary Nutrients
Micronutrients
On the basis of application, the global chelate fertilizers market is divided into:
Foliar
Fertigation
Soil
Others
Based on region, the global chelate fertilizers market is segmented as:
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa (MEA)
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Chelate Fertilizers Market: Regional Outlook
The report on the global chelate fertilizers market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. Amongst these regions, South Asia & Oceania along with East Asia are the regions that are expected to dominate the consumption of overall chelate fertilizers in 2018. High agricultural output in the Asian countries is triggering the demand for chelate fertilizers, which in turn, is propelling the regional market growth over the forecast period. Also, the trend of Genetically Modified (GMO) crops has been witnessed in Japan and China on a large note. The presence of key players offering their products also strengthen the regional chelate fertilizers market. Furthermore, North America managed to follow East Asia in terms of chelate fertilizers consumption in 2019. Europe also accounted for a substantial consumption share in 2018 owing to high awareness about chelate fertilizers and the presence of key players. Moreover, Middle East and Latin America both managed to gain a considerable market share in 2018.
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Chelate Fertilizers Market: Key Players
Prominent players in the global chelate fertilizers market are BASF SE, Syngenta AG, Nouryon, Nufarm Limited, Aries Agro Limited, Haifa Chemicals Ltd., Valagro SPA, Van Iperen International, Protex International, and others. The chelate fertilizers market consists of well-diversified global and regional players with global vendors ruling the market.
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