The Agricultural Chelates Market was valued at USD million in 2023 and is projected to reach USD million by 2031, growing at a CAGR of 6.78% during the forecast period (2024-2031).
Agricultural chelates are substances added to fertilizers to enhance their performance and efficiency, thus increasing crop output. Various types of chelates such as DTPA, EDTA, and EDDHA are used in agricultural applications to improve the performance of micronutrients in foliar, soil, and fertigation treatments. The rising demand for high-value crops and advancements in precision-farming technology are key drivers for market growth.
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Market Trends
Rising Focus on Agricultural Development The market is driven by a global emphasis on agricultural development. Agricultural chelates, being organic substances, are easily absorbed by plant leaves and roots, improving micronutrient utilization efficiency. The increasing demand for high-value crops, alongside the need for optimal crop growth and development, is boosting the market. However, challenges such as the bioaccumulation of non-biodegradable chelates and the growth of the organic fertilizers industry could hinder market growth.
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Market Segmentation
By Type, Crop Type, Application, and Region
The market is segmented based on type, crop type, application, and region. In 2021, the EDTA segment held the highest revenue share due to its superior absorption capabilities and versatility for soil and foliar applications.
By Type: EDTA, IDHA, EDDHA, DTPA, Others
By Crop Type: Oilseeds & Pulses, Fruits & Vegetables, Cereals & Grains, Others
By Application: Foliar Sprays, Hydroponics, Soil, Seed Dressing
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Key players:
- AEP Industries Inc.
- BASF SE
- Dow
- ExxonMobil Chemical
- Novamont S.p.A.
- Trioplast Group
- Berry Global
- Grupo Armando Alvarez
- Ab Rani Plast Oy
- BioBag International AS
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