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(MoneyNewsWire.Net, March 30, 2018 ) The Latin America Market had a Metal Chelates market value of USD 46.2 million in 2016 and is forecasted to exhibit a CAGR of 8.13% and reach USD 68.29 billion by 2021. The Metal Chelates market is predicted to showcase huge potential in the forecasting period. The market has continued to gain momentum with increasing demand for chelates to tackle the problem of soil degradation and crop damage due to nutrition deficiency. The market is expected to boon in the years to come.
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Chelates are basically chemical compounds which consist of a metal ion in the presence of a chelating agent. Chelating agent are used to help the metal ion in making several bonds with the chelate. Metal chelates include an organic molecule that creates bonds with a metal cation ionically as well as covalently. Metal chelates are known as multidentate ligand as well.
One of the major factor responsible for the market to show rapid growth in recent years is the degradation of soil, leading to decline in crop production and quality. Other factors include, increase in farmers’ awareness about benefits of the product, demand for high crop yield and developed farming practises being implemented. The factors acting as restraints for the market include, wide range of side effects as well as lower acceptance among farmers for the metal chelates.
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The Latin America Metal Chelates market is broadly classified on the basis of type, mode of application and crop type. The segmentation on the basis of type is done under secondary nutrients, primary nutrients, and micronutrients. The micronutrients lead the market share followed by primary nutrients. On the basis of mode of application, the market is categorized into soil, foliar, fertigation and others. The foliar segment accounts for the highest market share under mode of application segmentation. Lastly, the market is segmented on the basis of crop type under oilseeds & pulses, cereal & grains and fruits and vegetables, with fruits and vegetables being the largest segment in the market. On the basis of geography, the Latin America market is analysed under various regions namely Brazil, Argentina, Mexico and rest of Latin America.
The companies leading the share in the Metal Chelates market include Akzo Nobel N.V., BASF SE, Nufarm Limited, Syngenta AG, Haifa Chemicals Ltd., Van Iperen International, Aries Agro Limited, Protex International, Valagro SPA, Deretil Agronutritional.
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