The agricultural chelates market was valued at USD 489.2 million in 2018

New York, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Agricultural Chelates Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05865773/?utm_source=GNW
EDTA and DTPA occupy more than 50% of the market share in the agricultural chelates market and the fully biodegradable chelate, IDHA, is expected to witness the fastest growth among the agricultural chelates, by type. The market for agricultural chelates by hydroponics application is expected to be the fastest segment during the forecast period.

Scope of the Report
Micronutrients play an important role in agriculture, as they increase the yield and enhance the quality of agricultural produce. These essential elements are used by plants in very small quantities and they are effectively supplied by complexes containing chelated compounds, which are more stable than the non-chelated metals. EDTA, DTPA, and EDDHA are the most commonly used agricultural chelates. Micronutrients, such as iron, zinc, copper, manganese, calcium, and magnesium can be chelated easily, while the other nutrients cannot be chelated readily.

Key Market Trends
Increasing Incidences of Micronutrient Deficiency

Micronutrient deficiencies, owing to many factors, such as low soil organic matter and high clay content, act as delimiters to the agricultural chelates market's growth. Micronutrient fertilizers with chelating agents become increasingly advantageous, as they offer sustainability and stability in increasing the production of various food grains, oilseeds, and pulses. Chelating agents are organic molecules that can trap or encapsulate certain metal ions, such as Calcium, Magnesium, Iron, Cobalt, Zinc, and Manganese. Zinc deficiency affects many crops, such as maize, rice, and wheat, and is the most widespread micronutrient deficiency, globally. Boron is the second most widespread deficiency, while iron deficiency is prevalent in regions with the Mediterranean climate and calcareous soils. In Europe and Australia, calcium deficiency is relatively common. Relative susceptibility of certain crops to micronutrients is as follows.

Increasing Agricultural Chelates Consumption in the Asia - Pacific Region

The Asia - Pacific region has the highest market value for agricultural chelates, which is majorly led by China, India, and Australia. The Asia - Pacific agricultural chelates market is growing at a higher rate in the forecasted period due to increasing population in the region. In the Asia-Pacific region, China is estimated to have the highest market share of 43%, followed by India, Australia, and Japan. Australia is estimated to have the highest growth rate during the forecasted period. A rapid increase in population and the increasing demand for food has forced farmers to grow crops with higher yield, thus increasing the demand for Chelates in the region. The chelates market in the Asia-Pacific region is a fragmented market, with some of the major companies, Yara India, Coromandel International, BASF, DuPont, and Nufarm Limited.

Competitive Landscape
The analysis of global players in the chelates market indicates that various agreements, followed by product launches and development, are the most adopted strategies of major players in the industry. In terms of market share dominance, Yara International with 10% share, is followed by AkzoNobel N.V and BMS Micronutrients, which have the market share of around 8% and 6%, respectively. The greater market share of these players can be attributed to highly diversified product portfolios and large numbers of acquisitions and agreements taking place.

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