Middle East and Africa Metal Chelates market is estimated to reach USD 46.09 million by 2021 from a market value of USD 30.8 million in 2016 at a CAGR of 8.4%.
The Metal Chelates market is showcasing significant potential over the mentioned forecast period. The market continues to build up momentum with the rise in the cases of degradation of soil and pH level of the arable land around the Middle Eastern region, thus creating a dire need for metal chelates.
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Chelates are the 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 the agent.
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There are various factors affecting the growth of the market, either positively or negatively. The factors responsible for driving the market growth include, growing awareness among farmers about the benefits of chelates, increase in demand for better yield of crops, degradation of soil and developed practises in farming.
On the other side the factors hindering the growth are lack of acceptance in farmers for chelates and adverse effects related to its usage. These factors need to be tackled for the market to show better growth.
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The Middle East & Africa Metal Chelates market is segmented based on crop type, mode of application and type. The market is segmented on the basis of type under micronutrients, primary nutrients and secondary nutrients.
The micronutrients dominated the market share with primary nutrients with the second largest market. On the basis of crop type the market is divided into cereals & grains, oilseeds & pulses and fruits & vegetables.
The fruits & vegetables segment accounted for the largest share in the market on the basis of segmentation by crop type due to high incidence of nutrition deficiency. Further, the market is categorized on the basis of mode of application under soil, foliar and fertigation.
The foliar segment accounts for the largest share in the market. On the basis of geography, the Middle East & Africa market is analysed under various regions namely Middle East and Africa.
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There are various companies fighting in the market for their fair share, the major ones being BASF SE, Syngenta AG, Protex International, Nufarm Limited, Akzo Nobel N.V., Haifa Chemicals Ltd., Van Iperen International, Aries Agro Limited, Valagro SPA, Deretil Agronutritional.
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