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Chelate applies to the pincer-like manner where a metal resource ion is ringed by a broader organic molecule, typically referred to as chelator. Each raft, when paired with a micronutrient, may create a chelated fertilizer. To form a chelated substance to apply to the fertilizer, the chelating agent is processed to a finer powder. It is then combined with the sulfate of the appropriate micronutrient, e.g. ferrous sulfate, if iron is to be a chelated micronutrient. Ethylene di-amine tetra cetate (EDTA) is perhaps the most popular chelating agent in pesticides and fertilizers. Unlike other synthetic chelates, EDTA is a foreign component of the plant and is thus not processed by the plant.
There has been an rise in demand for food products resulting in an increase in population and a decline in agricultural land. In addition, farmers use creative technologies to crop growth and boost quality to meet the requirements of the increasing population and the food industry. Therefore, the rising demand for high-value crops is driving the market. However, the presence of the numerous manufacturers with a high level of production is likely to limit the power of the supply of raw materials, thereby affecting the growth of the industry.
Based on material, the market for global chelate fertilizer is segmented into EDTA, EDDHA, DTPA, IDHA, and Others . On the basis of application, the market is classified into soil application, seed dressing, foliar sprays, fertigation, and others. Based on end use, the market for global chelate fertilizer is segmented into agriculture and indoor farming. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Market Driver -
The growing demand for high-value crops drives the market.
Key Market Restraint -
Uncertainties in prices of raw materials and high competition will restrict growth.
The global chelate fertilizer market is fairly fragmented, with number of players operating in the global markets. Some of the key players in the global chelate fertilizer market includes BASF SE, Nouryon, The Dow Chemical Company, Yara International, ICL, Haifa Chemicals Ltd, Syngenta, Nufarm Ltd, Aries Agro Ltd, The Andersons, Inc., ATP nutrition and others.
The global chelate fertilizer market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific dominates the market for chelate fertilizers. The area affected by agriculture, in particular plants, has expanded due to increasing demand from emerging economies across Asia-Pacific, boosting market growth. North America is anticipated to witness the fastest-growing chelate fertilizer on the market. The North American industry is influenced by the use of agricultural chelates, the most common foliar spraying method for farmers worldwide, as it maintains a reliable delivery of nutrients and lowers agricultural production costs. As a result, this implementation method is projected to have seen considerable growth high reliability and usefulness during the forecast period. Due to the lack of micronutrients reported in soils across Europe, demand for farm chelates is expected to increase at a high pace. The Middle East and the African region will be among the new advancements in regional industrial development, especially in the construction of manufacturing plants. Latin America is also dealing from political turmoil and economic uncertainty that impacts the market growth.
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