The Asia Pacific Agricultural Chelates Market is expected to grow at 7.92% CAGR from 2016 to 2021 and it is estimated that the Asia-Pacific market was valued at USD151.52 million in 2016 and is relied upon to reach USD221.81 million by 2021.
Degradation of soil, increased modern farming practices, and demand for chelated iron micronutrients are key factors driving the market.
The high growth potential in emerging markets and untapped regions provides market players with new growth opportunities.
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Micronutrients are essential agriculture for increasing the yield and enhancing the quality of agricultural produce.
Though required in very small quantities, these essential elements are consumed by plants to carry out important bodily functions. They are effectively supplied by complexes containing chelated compounds, these compounds being more stable than their non-chelated compounds.
The most commonly used chelates are EDTA, DPTA and EDDHA. Micronutrients such as iron, zinc, copper, manganese, calcium and magnesium can be chelated easily, while the other nutrients cannot be readily chelated.
The driving factors of the market are the increasing demand for high yielding good quality crops. These chelate compounds also helps in removing toxicity due to excess micronutrients and play an important role in helping plants overcome micronutrient deficiency, thereby increasing profits by overcoming agricultural economies.
Increasing demand for biofuels is further expected to aid market growth. Rapid depletion of crude oil deposits and rising environmental concerns regarding harmful effects of petroleum products on environment are further aiding the research to find a sustainable alternative.
Bioethanol and biodiesel are considered one of the sustainable alternatives. Both of these products are derived from bio fuel such as waste vegetable and waste vegetable oils Therefore, an enlarged interest for biofuels has prompted the interest for food grains and crops, which will fuel the demand for agricultural micronutrients.
Factors such as the high-cost associated with chelating agents and increasing environmental concern over non-biodegradable chelates are major constraints limiting the market growth. But with increasing emphasis on research and product development by companies to produce organic and biodegradable chelates and advantages associated with increasing adoption of hydroponics technology are boosting the growth of agricultural chelates market.
The Asia-Pacific market for agricultural chelates market is segmented by type, application and crop type. On the basis of type, it is segmented into EDTA, EDDHA, DTPA and IDHA.
The EDTA agricultural chelates type is projected to grow the most. EDTA chelate isolates metal ions, such as calcium ions and ferrous ions, and forms weak bonds with metal nutrients, such as zinc, iron, and copper.
EDTA chelates being comparatively less expensive and easily available also helps to treat harmful lead poisoning in the soil by removing the toxins, such as lead, cadmium, and mercury. These factors have further helped the demand for EDTA chelates.
On the basis of application, it is segmented into Soil, Seed Dressing, Foliar Sprays and Hydroponics. Soil application in the agricultural chelates market is growing as soil nutrition is necessary to increase the productivity of crops.
Crops witness a usual deficiency of iron and therefore chelated iron micronutrients are applied in the soil to provide the required amount of nutrition for an enhanced crop production. On the basis of Crop, it is segmented into cereals and grains, oilseeds and pulses, and fruits and vegetables.
Bioethanol and biodiesel are considered the most sustainable alternatives to the conventional fuel. Bioethanol is sourced from wheat, soybean, corn, rapeseed, and sugarcane, whereas biodiesel is sourced from Jatropha, sunflower, soybean, mustard, rapeseed, flax, canola, palm oil, hemp, and waste vegetable oils.
The absolute growth opportunity is expected to be highest in the cereals segment followed by fruits and vegetables.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia-Pacific has a high growth potential for agricultural chelates due to emerging countries such as China and India, which have considerable agricultural land to grow crops.
In China, the soil deficiency of trace elements such as boron, manganese molybdenum, zinc, copper and iron are raising the demand for agricultural chelates. Moreover, China is among the leading countries for agricultural chelates as the country faces growth in agricultural technologies and factors such as urbanization has led to higher standards.
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Some of the key players participating in the Asia Pacific Agricultural Chelates Market are:
Shandong IRO Chelating Chemicals Co. Ltd.
Van Iperen International
Market Segmentation for the Asia Pacific Agricultural Chelates Market:
By Type: Introduction, EDTA, EDDHA, DTPA, IDHA
By Crop Type: Introduction, Fruits and vegetables, Oil Seeds and Pulses, Cereals and Grains
By Application: Introduction, Soil Dressing, Foliar Sprays, Hydroponics
Scope of the Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of type and application along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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