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Agriculture Micronutrients Market size in terms of volume and value 2016-2024
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One of the major restraints for a growth of the agriculture micronutrients market is the lack of awareness among farmers in developing countries regarding appropriate dosage and proper application of micronutrients, thereby limiting its demand. This factor is anticipated to restrain the growth of the agriculture micronutrients market over the forecast period.
In 2015, among the various product type segments, the zinc product type segment was valued at US$ 2,504.7 Mn and it is estimated to reach a market value of US$ 2,697.5 Mn by the end of 2016. The boron product type segment was valued at US$ 953.6 Mn in 2015 and is estimated to reach US$ 1,034.1 Mn by the end of 2016.
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In 2015, the soil application segment accounted for 47.6% value share of the overall market, which is expected to rise up to 48.7% by the end of 2024.
In terms of volume, the Asia Pacific agriculture micronutrients market dominated the overall market in 2015, and it is expected to continue to dominate the market over the forecast period between 2016 and 2024 as well, as compared to other regions. In terms of value, the Asia Pacific agriculture micronutrients market is anticipated to expand at a CAGR of 9.0% during 2016 to 2024.
The price of agriculture micronutrients is forecast on the basis of the historic price trend and several other factors, including production, demand, import & export, and end-stock of agriculture micronutrients.
Key players in the global agriculture micronutrients market include ADAMA Agricultural Solutions Ltd., Agrium Inc., Akzo Nobel N.V., Auriga Industries A/S, BASF SE, Bayer Crop, Compass Minerals International Inc., E. I. DUPONT DE NEMOURS AND COMPANY, Land O’Lakes Inc. Monsanto Co., Nufarm Limited, Sumitomo Chemical Co., Ltd., Syngenta International AG, The Dow Chemical Co., The Mosaic Company, Yara International ASA, ATP Nutrition, Baicor, L.C., Brandt Consolidated Inc., Grow More Inc., Kay-Flo, Micnelf USA Inc., Nutra-Flo Company (K- Flo), Stoller USA, Inc., Verdesian Life Sciences, LLC, Merck KGaA, and Sigma-Aldrich Corporation.
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