Metal Chelates Market is estimated to reach USD 582 million by 2021 | Market Dat

Posted by rohan on April 18th, 2018

The Global Metal Chelates Market was worth USD 385 million in 2016 and estimated to be growing at a CAGR of 8.61%, to reach USD 582 million by 2021. The Metal Chelates market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the degradation of soil quality and pH level in the agricultural land around the globe. The market has seen exponential growth recently and is expected to continue with the trend.

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Chelates refer to the chemical compounds comprising of a metal ion and the chelating agent. A chelating agent is a kind of chemical substance which allows a single metal ion to make several bonds with itself. Metal chelates involve an organic molecule which bonds with a metal cation covalently or ionically. These compounds are also known as multidentate ligand.

The deterioration of soil quality has led to an increase in the demand for metal chelates around the agricultural sector. Other factors which drive the growth of market include rising demand for higher yield out of crop production, growing awareness about nutrient deficiencies among crops and development in farming practise around emerging markets. On the other hand, the market faces some challenges as well, the major ones being adverse side effects of chelates which are non-biodegradable in nature, as well as the lack of acceptance among farmers about the use of metal chelates.

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The Global market for Metal Chelates is segmented on the basis of type, crop type and mode of application. The market segmentation on the basis of type is done under primary nutrients, secondary nutrients, micronutrients and other nutrients. The market share is dominated by micronutrients, followed by primary nutrients. Based on crop type, the market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables and others. The fruits & vegetables segment accounted for the highest market share on the basis of crop type due to the fear of damage because of nutrient deficiency. Based on mode of application, the market is segmented under soil, foliar, fertigation and others, wherein foliar segment remains the market leader and is expected to show the highest growth as well. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Metal Chelates market was dominated by Asia-Pacific, with the overall market share of over 36% globally. Asia-Pacific was followed by Europe and North America. Asia Pacific is predicted to grow at a rapid pace in the coming few years.

Some of the major companies dominating the market, by their products and services include BASF SE, Akzo Nobel N.V., Syngenta AG, Nufarm Limited, Haifa Chemicals Ltd., Aries Agro Limited, Van Iperen International, Valagro SPA, Protex International, Deretil Agronutritional.

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