Asia-Pacific Metal Chelates Market has been estimated at USD 138.6 million in 2016 and is projected to reach USD 212.47 million by 2021, at a CAGR of 8.92% during the forecast period from 2016 to 2021.
The Metal Chelates market is showcasing significant potential in the mentioned forecast period. The market continues to build up momentum with the degrading quality of soil and pH levels, thus making the agricultural land unproductive.
The market has grown rapidly recently and is expected to continue the same.
Metal chelates include an organic molecule which has the ability to make bonds with a metal cation ionically or covalently.
Chelates are nothing but chemical compounds which comprise of the chelating agent and a metal ion. A chelating agent is a chemical substance which helps a single metal ion in making several bonds with itself.
These compounds are also called multidentate ligand.
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The degradation in the quality of soil has resulted in a rise in the demand for metal chelates across the agricultural sector. Other major factors which are responsible for the growth of market include rising awareness about nutrient deficiencies in crops, increasing demand for higher yield in crop production, and lastly development in farming practise being implemented.
On the other side, the market has faced some restraints and challenges as well, and the major ones include wide range of side effects of non-biodegradable chelates, and the lack of farmers‘ acceptance about the use of metal chelates.
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The Asia-Pacific market for Metal Chelates is categorized on the basis of crop type, mode of application and type. The market segmentation based on type is done into primary nutrients, secondary nutrients, micronutrients and others.
The market share is led by micro nutrients followed by primary nutrients. Based on crop type, the market is segmented into cereals & grains, oilseeds & pulses, fruits & vegetables and others.
The fruits and vegetables accounted for the greatest market share based on crop type due to higher chances of crop damage due to nutrient deficiency. Based on mode of application, the market is categorized under soil, foliar, fertigation and others, where foliar holds the largest share in the market.
On the basis of geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea.
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Some of the major market leaders competing for their share include Akzo Nobel N.V., BASF SE, Syngenta AG, Haifa Chemicals Ltd., Nufarm Limited, Aries Agro Limited, Valagro SPA, Van Iperen International, Deretil Agronutritional, Protex International.
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