Micronutrients Fertilizer Manufacturing Industry
Micronutrients Fertilizer Manufacturing Industry. Production of Micronutrients Fertilizer for Fruits, Vegetables and Citrus. Agricultural Micronutrient for Crop Production
A commercial fertilizer that contains commercially valuable concentrations of micronutrients but does not contain commercially valuable concentrations of nitrogen, phosphoric acid, available phosphorus, potash, calcium, magnesium, or sulfur. Micronutrients include boron, chlorine, cobalt, copper, iron, manganese, molybdenum, sodium, and zinc.
Features:
- Suitable for fustigation and foliar applications
- Support nitrogen fixation and nitrate reduction
- Accurate composition
- Homogeneous free flowing usage
Micro Nutrient Fertilizer play a vital role in several physio-biochemical reactions taking place within the plant cells. Some act as co-factors to enzymes and help in enzymatic reactions, some help in the synthesis of various pigments such as chlorophylls, xanthophylls, carotenes etc. Several translocations of biological intermediates are facilitated through micronutrients. They are indispensable in the biosynthesis of basic building blocks of the cells such as the DNA, RNA & proteins.
Banana an important plantation crop, is sensitive to micronutrient deficiencies. Bark splitting, leaf crumbling, leaf discoloration etc. are various symptoms exhibited in diseased plants. Timely application of Ultra Boost for Banana can prevent such symptoms and help plants regain their natural growth and vigour.
Benefits:
- Iron (Fe) is the O2 carrier in photosynthesis and helps in cell division & growth
- Manganese (Mn) aids in chlorophyll synthesis & promotes photosynthesis
- Zinc (Zn) regulates plant hormones & enzymes
- Boron (B) helps in sugar translocation and promotes fruit maturity
- Copper (Cu) is pivotal for photosynthesis and increases sugar content & flavor of fruit
The global micronutrient fertilizers market was estimated at USD 4169 million in 2017, and is expected to exhibit a CAGR of 8.2% during the forecast period, 2018-2023.
The global micronutrient fertilizer market is growing at an encouraging rate given the increasing occurrence of soil and micronutrient depletions across the regions.
However, fruits & vegetables are expected to register the fastest growth in demand for micronutrients, during the forecast period, exhibiting a CAGR of 8.6%. Oil seeds, and pulses held the third position, in terms of market revenue in 2017. Other crop types such as decorative plants and flowers are also likely to offer opportunities for micronutrient manufacturers.
Global Micronutrient Fertilizer Market: Revenue in USD Million, 2014-2023
The growing population, and the increase in the disposable income of the population in developing countries have increased the consumption of agricultural products. This factor is leading to an increase in the demand for agricultural micronutrients, like zinc, and manganese, in order to meet the growing demand for food.
Global micronutrient fertilizer market is segmented on the basis of nutrient type, form, function and crop type in order to provide a better understanding of the regional market and trends. Market segmentation by type of micronutrient includes copper, zinc, Manganese, Boron, Molybdenum, Iron and other micronutrient such as chlorine, Nickel and cobalt. These fertilizers are available in two forms chelated and non-chelated. Non-chelated form are more common as these are more stable and easily soluble. In case of product application, grains and cereal crops amount to most of the demands globally.
Major factors favoring the growth of the micronutrient fertilizers market are growing demand for crops, shrinking land area, increasing micronutrient deficiency in the soil, and increased focus on agricultural productivity in the region. The constraints which limit the growth of the market are lack of awareness among the farmers and micronutrient toxicity. Owing to the various benefits of micronutrient fertilizers, R&D in this market has increased. Continuous support of governmental and non-governmental organizations worldwide in product development and farmer’s education is creating further opportunities for growth of this segment.
Fruits & vegetables are expected to register the fastest growth in demand for micronutrients, during the forecast period, exhibiting a CAGR of 8.6%. Oil seeds, and pulses held the third position, in terms of market revenue in 2017. Other crop types such as decorative plants and flowers are also likely to offer opportunities for micronutrient manufacturers. By geography, Asia-Pacific led the market in 2017, and held over 42% of the market. North America followed Asia-Pacific for the demand for micronutrients, but is expected to exhibit the fastest growth in the coming years.
Fertilizers Market in India
India is the second biggest consumer of fertilizer in the world next only to China. The Indian fertilizer market was worth INR 4,675 Billion in 2017. Looking forward, the market is projected to reach INR 9,987 Billion by 2023, at a CAGR of around 13% during 2018-2023.
The demand for fertilizers in the country has been growing due to increasing demand for food grains on account of the country’s burgeoning population. However, excessive and repeated use of urea has resulted in creating an imbalance in the nutrient profile of the soil in most parts of the country, thereby decreasing productivity.
The increasing population growth has led to food security concern and increased awareness among the farmers about the uses of fertilizers. Some of the other factors driving the growth of the market are high government subsidies and growing investments in the fertilizer industry. There is a shortage of raw materials in the country and the consequent dependency on imports is leading to volatile prices in the fertilizer industry. However, the new policies will help in stabilizing the raw material prices during the coming years.
Fertilizers have played a key role in the success of India’s green revolution and subsequent self-reliance in food-grain production. The increase in fertilizer consumption has contributed significantly to sustainable production of food grains in the country. As a result, the demand of fertilizers has witnessed double digit growth rates over the past several years. Increasing rural incomes, coupled by easy availability of credit, are also likely to create a positive impact on fertilizer usage in the country.
Key Players: The Mosaic Company, FMC Corporation, Akzonobel NV, Yara International, BASF SE, Agrium Inc., Valagro Spa, Coromandel International Limited, Wolf Trax, Sapec Group, Auriga Group, ATP Nutrition Ltd, Wilbur-Ellis Company (US), The Andersons Plant Nutrition (Nulex Inc.), Stoller Enterprises Inc., Zuari Agro Chemicals Ltd, Bms Micro-Nutrients NV, Baicor LC, Arysta Lifescience Corporation, Aries Agro Ltd., Drexel Chemical, Old Bridge Chemicals Inc.
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