(I-BusinessNews.Com, December 02, 2020 ) The global agricultural chelates market size is estimated to be valued at USD 0.9 billion in 2019 and is projected to be worth USD 1.5 billion by 2025, recording a CAGR of 7.7% during the forecast period. Due to the high demand for high-value crops, changing lifestyle of consumers, limited availability of arable land, and increasing population, there has been a surge in demand for agricultural chelates.
Key players in this market include BASF SE (Germany), Nouryon (Netherlands), The Dow Chemical Company (US), Yara International (Norway), and ICL (Germany). Expansions, acquisitions, and agreements & joint ventures were some of the core strengths of the leading players in the agricultural chelates market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.
Some of the other players in the agricultural chelates market include Haifa Chemicals Ltd (Israel), Syngenta (US), Nufarm Ltd (Australia), Aries Agro Ltd (India), The Andersons, Inc. (US), ATP nutrition (Canada), Manvert (Spain), BMS-Micronutrients NV (Belgium), Wilbur-Ellis company (US), Compo Expert GMBH (Germany), Greensmiths, Inc. (US), Agmin Chelates Pty. Ltd (Australia), Van Iperen International (Netherlands), Valagro SpA (Italy), Shandong Iro Chelating Chemical Co., Ltd. (China), Protex International SA (France), and Deretil Agronutritional (Spain).
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Nouryon (Netherlands) is a global leader in the specialty chemicals sector. The company caters to the requirements in the chemical industry and various other industries, such as food, paints & coatings, agriculture, and electronics, operating in over 80 countries. It offers chelates through its brand, Rexolin, which is a registered trademark used globally for the distribution of various chelated micronutrients. The company entered into an agreement with INEOS Nitriles (UK), which has helped it expand its production of biodegradable chelates. The company has also invested more than USD 11.17 million in Sweden for expanding its production capacity of chelated micronutrients.
BASF SE (Germany) is one of the top players in the agricultural sector that offers solutions through five segments. The company offers agricultural chelates through its agricultural solutions segment. With the acquisition of Bayer Crop Science, BASF SE has been able to mark its presence in Europe and Asia Pacific regions. The world’s largest manufacturer of aminocarboxylate chelating agent is BASF SE, which provides high-quality products and services. The company has expanded its production facility in Theodore, Alabama, (US) and Ludwigshafen (Germany), which would help it strengthen its position as a key supplier of agricultural chelates in the European region.
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The Dow Chemical Company (Germany) is one of the leading chemical companies operating through various segments. The company invests more in R&D activities to serve its products and solutions of agricultural chelates under brands, such as Versenol Ag, Versene acid chelating agent, and Versene EDTA. The company launched new products for soil enrichment in India, named as Nutribuild. It is a chelated fertilizer mix for standard micronutrients, as well as non-chelated silicon micronutrients
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