The Latin America metal chelates market size is expected to reach USD 79.81 million in 2024 and reach USD 117.98 million by 2029, growing at a CAGR of 8.13% from 2024 to 2029.
The metal chelates market is predicted to showcase huge potential in the forecasting period. The market has continued to gain momentum with increasing demand for chelates to tackle the problem of soil degradation and crop damage due to nutrition deficiency. The market is expected to boom in the years to come.
Chelates are basically chemical compounds which consist of a metal ion in the presence of a chelating agent. Chelating agent are used to help the metal ion in making several bonds with the chelate. Metal chelates include an organic molecule that creates bonds with a metal cation ionically as well as covalently. Metal chelates are known as multidentate ligand as well.
One of the major factors responsible for the market's rapid growth in recent years is the degradation of soil, leading to a decline in crop production and quality. Other factors include an increase in farmers’ awareness about the benefits of the product, demand for high crop yield, and developed farming practices being implemented. The factors acting as restraints for the market include a wide range of side effects as well as lower acceptance among farmers for the metal chelates.
This research report on the Latin American metal chelates market is segmented and sub-segmented into the following categories:
Latin America Metal Chelates Market – By Type:
The micronutrients lead the market share followed by primary nutrients.
Latin America Metal Chelates Market – By Mode of Application:
The foliar segment accounts for the highest market share under the mode of application segmentation.
Latin America Metal Chelates Market – By Crop Type:
Latin America Metal Chelates Market – By Country:
KEY MARKET PLAYERS:
The companies leading the share in the Metal Chelates market include Akzo Nobel N.V., BASF SE, Nufarm Limited, Syngenta AG, Haifa Chemicals Ltd., Van Iperen International, Aries Agro Limited, Protex International, Valagro SPA, Deretil Agronutritional.
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