(PharmaNewsWire.Com, June 07, 2018 ) Global Metal Chelates Market Market Outline: Metal Chelates Market
Metal chelates are the chemical substances, which contain chelating agents with a metal ion. Metal chelates are used as soil additives to provide the micronutrients that are necessary for plant growth. Organic substances such as hydroxamate siderophores are natural chelating agents present in the soil field. However, these natural chelates are insufficient to improve the crop yield. Synthetic chelating agents such as EDTA are most commonly used due to their versatile nature and broad scope of use.
Market Dynamics: Metal Chelates Market
Deterioration of the pH level and soil quality, increase in the demand for better crop yield, change in organic farming practices, increase in awareness about the nutritional requirement for the plant growth, and rise in the usage of metal chelates as micronutrient fertilizers for plants are anticipated to propel the metal markets over the forecast period. However, adverse effects associated with overuse of chelating agents, effect of nonbiodegradable metal chelates, and lack awareness about metal chelates in underdeveloped regions are the factors hamper the growth of metal chelates market. Furthermore, creating the awareness about the metal chelates in farmers, and introduction of newer products with minimal side effects expected to present better growth opportunities for market players in the metal chelates market. Moreover, use of chelated nutrients in animal feed is the current trend that drives growth of the market.
Market Scope: Metal Chelates Market
Metal chelates market is segmented on the basis of product type, crop type, and mode of application Based on the product type, it is segmented into the following:
Based on the crop type, it is segmented into the following:
Fruits and vegetables Oilseeds and pulses Cereals and grains Others
Based on the mode of application, it is segmented into the following: Foliar Soil Fertigation Others
Market Summary: Metal Chelates Market Global metal chelates market is growing at a significant CAGR owing to changes in agricultural practices for better yield. Moreover, companies focusing on the research and development for the innovation of newer metal chelate products with reduced adverse effects. For instance, Haifa chemicals developed watersoluble metal chelate fertilizers Haifa Micro which is rapidly dissolved in water. In addition collaborations and product launching by the companies is a key strategies followed by market players to increase the revenue share in market. For instance, in June 2018, Sumitomo Corporation launched Foliar Blend super fertilizer containing micronutrients with chelating agents in collaboration with Roshini Crop Sciences Pvt Ltd.
Regional Analysis: Metal Chelates Market Geographically, metal chelates market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America metal chelates market growth is driven by increase in the awareness about soil nutrition, rise in R&D for the innovation of newer products, and changes in agriculture farming practices. Europe metal chelates market accounted for significant share due to increase in the demand for improving the crop yield, rise in awareness about the food safety in consumers, and increase in soil infertility due to rapid industrialization in the region. However, Asia Pacific metal chelates market is an emerging region for metal chelates due to increase in demand for food products coupled with decrease in arable land, increase in demand for metal chelates in Asia Pacific region majorly from China, and advancements in the organic farming practices in the Asian region.
Market Participants: Metal Chelates Market Some of the players in market are Akzo Nobel N.V. Netherlands, Haifa Chemicals Limited Israel, Syngenta AG Switzerland, The Dow Chemical Company U.S., BASF SE Germany, Syngenta AG Switzerland, Valagro SPA Italy, and Sumitomo Corporation Japan to name a few.
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