Agricultural Micronutrients Market | The Dow Chemical Company, BASF SE, The Mosaic Company, Akzo Nobel N.V.

Agricultural micronutrients are useful for the growth of plants and a play significant role in balanced crop nutrition. These include zinc, manganese, nickel, boron, copper, molybdenum, and chloride. Lack of any one of these micronutrients in the soil can hamper plant growth, despite sufficient nutrients are present in sufficient amounts.

Soil application dominated the global agricultural micronutrients market, owing to their most common use, requires less labor, and time. Moreover, micronutrients directly come in contact with the roots when applied to soil, thus they are highly effective, resulting in high productivity and yield. Foliar is expected to boost growth of the global agricultural micronutrients market over the forecast period, owing to various advantages offered by foliar sprays, such as easy and uniform application, low cost of application as compared to soil application, and immediate response to nutrient applied, thus correcting the deficiencies during the growing season.

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Market Taxonomy

Global Agricultural Micronutrients Market is segmented into:

By Crop Type

Cereals
Pulses and Oilseeds
Fruits and Vegetables
Others (Plantation, Permanent Crops, and Floriculture.)

By Product Type

Copper
Zinc
Boron
Iron
Molybdenum
Manganese
Others (Nickel and Chloride)

By Application

Foliar
Fertigation
Seed Treatment
Soil
Others (hydroponics)

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Asia Pacific held a dominant position the global agricultural micronutrients market in 2017. Growing awareness regarding the benefits of micronutrients among the growers is driving growth of the agricultural micronutrients market in India. Also, according to The National Informatics Centre (NIC), India ranks second in agricultural production in the world and is a leading producer of various agricultural commodities, further boosting growth of the agricultural micronutrients market in the country and thereby, in Asia Pacific. Moreover, in 2017, the Indian biofuels industry aimed to invest US$ 2.25 billion in the upcoming projects over the next years to increase the industry’s value to US$ 7.5 billion by 2022.

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