Metal Chelates Market Anticipated to Reach USD 1002 Million by 2028

The Metal Chelates Market is expected to reach USD 1002 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.10% in between 2022 to 2028. Increasing awareness about nutrient depletion in crops & declining soil quality and the growing use of agricultural chelates to enhance crop productivity, micronutrient depletion, soil degradation, & shrinking of agriculture areas have been expected to drive the growth of the global metal chelates market. In addition, chelation is beneficial in applications such as supplying nutritional supplements in chelation treatment to remove toxic metals from the soil, used as homogeneous catalysts in manufacturing, providing water treatment to aid in the deduction of metals in chemical, and as a fertilizer, thus to propel the market growth.

Key Findings:

• The fruits & vegetable segment is projected to expand at a steady CAGR over the forecast period owing to the awareness in farmers about the significance of nutrients for these crops, and the growing need for fruits and vegetables will cause the metal chelates market’s growth.
• The foliar segment held a substantial market share in 2021. This share is due to the rising investments as it is the easy, economical, and time-effective method and has become popular among farmers.
• Asia Pacific is the largest regional segment. This surge is attributed to the rising demand for metal chelates in economies such as U.S., and Mexico.

Some of the key players in the Metal Chelates Market include - Akzo Nobel N.V. (The Netherlands), BASF SE (Germany), Syngenta AG (Switzerland), Haifa Chemicals Limited (Israel), and Nufarm Limited (Australia)..

The increase in demand in the developing countries, directed to inadequate nutrient supply to the crops, therefore, resulting in a lower harvest of crops thereby directing to a lower grade final crop sale among the customer. As the rising world population leads to decreases in the amount of arable land for food production, necessitates the cultivation of poor soils. Thus, the application of chelated fertilizer enhances the bioavailability of micronutrients such as Iron, Zinc, and Copper and in turn helps in the productivity, nutrient supply, and profitability of commercial agriculture.

Asia Pacific has dominated the global metal chelates market in 2021, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. Agriculturalists are now knowledgeable of this fact and are utilizing more chelated micronutrients like zinc and boron. The increase in disposable income, progressive urbanization, increasing population, and awareness for nutrition consumption will boost the future market of metal chelates.

COVID Impact Analysis

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the metal chelates market. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online.