Agricultural Chelates Market Size Forecast to Reach $1.8 Billion by 2025

(The Express Wire via Comtex)

Agricultural Chelates Market size is forecast to reach $1.8 billion by 2025, after growing at a CAGR of 7.8% during 2020-2025. With increasing soil testing and plant analysis for requirement of high-quality agricultural production, micronutrients deficiency has been verified in many soils, which will increase the demand for micronutrients and owing to this the Agricultural Chelates market will grow. Increasing use of chemical fertilizer is also driving the growth of micronutrients, as it protects crops from insects, UV radiations, and also offer increased yield which will further enhance the overall growth of Agricultural Chelates during the forecast period.

Type - Segment Analysis

Ethylene diamine-tetra-acetic acid (EDTA) segment holds the largest share in the Agricultural Chelates market. EDTA is a versatile chelating agent. It can form four or six bonds with a metal ion and it forms chelates with both transition-metal ions and main group ions. EDTA is frequently used in soaps and detergents because it forms a complex with calcium and magnesium ions. These ions are in hard water and interfere with the cleaning action of soaps and detergents. The EDTA binds to them, sequestering them and preventing interference. In the calcium complex, EDTA is a tetradentate ligand and chelation involves the two nitrogen atoms and two oxygen atoms in separate carboxyl (_COO_) groups. EDTA is also used extensively as a stabilizing agent in the food industry.

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Crop Type Segment Analysis

Fruit and Vegetables holds the largest market in the Agricultural Chelates market. Chelating agents are organic molecules that can trap or encapsulate certain metal ions like Ca, Mg, Fe, Co, eu, Zn and Mn and then release these metal ions slowly so that they become available for plants to take them up. Fruits and vegetables can be great sources of important nutrients such as calcium, fiber, folate, Iron, Magnesium, Potassium and Others. There are two basic groups of nutrients that must be obtained through the diet: macro-nutrients and micro nutrients. Macro-nutrients are comprise of proteins, carbohydrates and unsaturated fats while vitamins and minerals make-up micro-nutrients. All nutrients play different but vital roles in our health and wellbeing.

Application - Segment Analysis

Tomato has been the primary market for Agricultural Chelates as Tomato has the largest blends of micronutrients. Tomatoes need micronutrients too, even if only in small amounts for which chelates can help. Zinc, iron, boron, chloride, molybdenum, copper and manganese serve many purposes. Molybdenum, for instance, helps tomatoes efficiently use nitrogen, while zinc helps regulate growth and promotes proper sugar consumption. Boron assists tomatoes in making use of nutrients and is also essential to the development of their fruit and seeds. To give tomatoes all the necessary nutrients, you need to apply the right fertilizer. a fertilizer low in nitrogen, high in phosphorus and with a medium to high amount of potassium. Secondary and micronutrients can be delivered through organic matter.

Geography - Segment Analysis

APAC dominated the Agricultural Chelates market as APAC holds the largest area for agriculture. Countries such as India and China are major players in this region. Major crops produced in Asia include rice, sugar beet, fruits and vegetables, cereals, and grains; the region consumes 90% of the global rice produced. There is a huge demand for Agricultural Chelates market in Asia Pacific due to the direct use of micronutrients to treat plant deficiencies and are often sprayed in combination or as additives. Micronutrients are essential elements that are used by plants in small quantities. For most micronutrients, crop uptake is less than one pound per acre. In spite of this low requirement, critical plant functions are limited if micronutrients are unavailable, resulting in plant abnormalities, reduced growth and lower yield.

Drivers Agricultural Chelates Market

Increasing usage for fertilizers

Various nutrients boost plant production and keep people all over the world fed and healthy, and enhanced efficiency fertilizers. The third category of essential crop nutrients: micronutrients. Micronutrients play a supporting role in overall plant health and development. Micronutrients promote essential plant processes and growth, which translates into nutrient-rich food for animals and humans. Micronutrients include boron, chlorine, copper, iron, manganese, molybdenum and zinc, which are often in short supply for growing crops. Owing to this the increasing usage of fertilizers the Agricultural Chelates market will grow.

Implementation of Governments Regulations

Governments globally are focusing on boosting their agriculture sector. Whereas Governments regulations such as Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) by Indian Government will help to grow the agriculture sector. Under the Scheme an income support of Rs.6000/- per year is provided to all farmer families across the country in three equal installments of Rs.2000/- each every four months, which will financially help the farmers let them focus more towards farming. And with the growth of agricultural sector the Agricultural Chelates market will grow.

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Challenges Agricultural Chelates Market

Impact of COVID 19

The global Agricultural Chelates Market continues to be challenged by the lockdowns, logistical disturbances, reduced productions, and associated economic impacts of COVID-19. The global fertilizer sector has been affected since the outset, primarily in China, the world's largest producer as well as consumer of agriculture micronutrients. The outbreak of a novel coronavirus in China has to date had the most critical impact across the Chinese agriculture micronutrients sector, affecting the movement of both micronutrients products and raw materials in and out of the country. Moreover, this pandemic also expected to hit the agriculture micronutrients industry in the U.S., Brazil, India, and EU-5 countries.

Market Landscape

Technology launches, acquisitions and RandD activities are key strategies adopted by players in the Agricultural Chelates market. In 2019, the market of Agricultural Chelates has been consolidated by the top five players accounting for xx% of the share. Major players in the Agricultural Chelates Market are Akzo Nobel N V, BASF SE, Deretil Agronutritional, Haifa Chemical Ltd, Nufarm Limited among others.

Acquisitions/Technology Launches

In June 2019, BASF SE has strengthened its value chain for chelating agents in Ludwigshafen, Germany, by setting up a production plant to increase its market share in the European region.

In January 2019, Nouryon entered into an agreement with Itaconix Corporation (UK) for the marketing and distribution of bio-based polymers, which consist of chelating properties.

Key Takeaways

Asia-Pacific dominates the Agricultural Chelates market owing to increasing demand from applications such as tomato, citrus, soybean and others.

Increasing usage of fertilizer as it protects crops from insects, UV radiations, and also offer increased yield, is likely to aid in the market growth of Agricultural Chelates.

Growing technologies toward soil testing and plant analysis for requirement of high-quality agricultural production, micronutrients deficiency has been verified in many soils, which will increase the demand for Agricultural chelants.

COVID 19 pandemic will create few hurdles for the Agricultural Chelates market.

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