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Metal Chelates Market Analysis and Value Forecast Snapshot By End-Use Industry 2024-TMR
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Synthetic iron chelates are used extensively to feed iron-starving crops. The market for metal chelates can be segmented on the basis of nutrients they supply to the crop, mode of their application, and scarcity of micronutrients in the soil. Nutrients required for plants are categorized as macronutrients and micronutrients. Nutrients required in large quantities are macronutrients and nutrients required only in trace quantities are micronutrients. Macronutrients are sub-categorized as primary, secondary, and tertiary nutrients. The element potassium falls under primary macronutrients. It is essential for regulating water loss from leaves. Calcium and magnesium fall under secondary and tertiary macronutrients, respectively. On the other hand, elements such as iron, molybdenum, boron, copper, manganese, sodium, zinc, and nickel are included in the list of micronutrients.
Micronutrients are highly scarce nutrients found in soil. The micronutrients segment is projected to drive the market for metal chelates during the forecast period. Rising population and increasing awareness among farmers coupled with high demand for food products are also the drivers for the global metal chelates market. However, the market is hampered by stringent environmental regulations regarding utilization of biodegradable metal chelates. Opportunities are present for metal chelates manufacturers for penetrating the market with a bio degradable metal chelate.
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Key players operating in the global market for metal chelates are AVA Chemicals Private Limited, M&M Industries, Qingyuan Mutual Bio Techniques Co. Ltd., Shanghai Joint Hope International Trade Corporation, Micromix Plant Health Limited, Farmtech Agriland Corporation, AkzoNobel, Gujarat State Fertilizer & Chemicals, Aris Agro Limited, Valagro, and Chemicnova.
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