Northbrook, IL -- (SBWIRE) -- 09/18/2019 -- The report "Metal Chelates Market by Type (Primary Nutrients, Secondary Nutrients, Micronutrients), Mode of Application (Soil, Foliar, Fertigation), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), and Region - Global Forecast to 2022", The global market for metal chelates was valued at USD 357.0 Million in 2015, and is projected to grow at a CAGR of 8.54% from 2016, to reach USD 619.5 Million by 2022.
Browse 82 market data tables and 51 figures spread through 144 pages and in-depth TOC on "Metal Chelates Market - Global Forecast to 2022"
The market is driven by factors such as increasing awareness about modern agricultural practices are shifting the demand for nutrients towards chelated metals. Decreasing soil quality and deficiencies of micronutrients in most parts of the globe affects agricultural production. This has also resulted in increasing demand for the chelated metals.
The micronutrients projected to be the fastest-growing segment from 2016 to 2022
The micronutrients segment is forecast to grow at the highest CAGR from 2016 to 2022. The micronutrients such as zinc and boron are found deficient in soils in most of the regions which, in turn, affects the production of the crop. The farmers are now increasingly aware of this fact and are using more chelated micronutrients.
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The fruits & vegetable segment expected to grow at a significant rate during the forecast period
The fruits & vegetables are highly sensitive to the deficiencies of nutrients in the soil. They also of high value. The increased demand for fruits & vegetables and their sensitivity towards nutrients is driving the demand for metal chelates in this segment.
The Asia-Pacific region forecast to grow at the highest rate from 2016 to 2022
The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period, owing to the factors such as growth in population, rise in disposable incomes, progressive urbanization, and increase in demand for food products. Growth is majorly witnessed in China, India, Australia, and New Zealand owing to an increase in the purchasing power of the population.
The major restraints of the metal chelates market include the impact of non-biodegradable metal chelates. The market has a number of large and small-scale firms. Expansion and agreements were the key strategies adopted by market players to ensure their growth. Leading players in the global metal chelates market are BASF SE (Germany), Akzo Nobel N.V. (The Netherlands), Syngenta AG (Switzerland), Nufarm Limited (Australia), and Haifa Chemicals Limited (Israel).
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