Description
The human body needs nutrients in
small quantities which are very necessary for proper physiological functioning
and growth. These nutrients are known as micronutrients. Humans and other
living organisms require these micronutrients throughout their life span.
Micronutrients are also essential elements for growth of the plants and their
productivity. Due to extensive cropping the amount of micronutrients present in
soil is drastically decreased. Intensive use of chemicals and fertilizers
results in less productive soil. To fulfill basic need of micronutrients to
substantial level crops and plans are provided with some amount of
micronutrients according to their need.
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By end users, fruits, vegetable
crops and cereals are the major areas of agricultural sector having demand for
micronutrients. Agricultural micronutrients find applications in fertigation,
foliar and soil etc. Soil application is most dominating one in global market.
Micronutrients can be applied in chelated form or non-chelated.
Non-chelated form is in demand with largest global share. Zinc was overall
dominating micronutrient. Some other micronutrients are boron, manganese,
molybdenum, copper, iron, cobalt, nickel and chlorine. Asia-Pacific is the
largest market for agricultural micronutrients followed by North America,
Europe and RoW. North America is still expected to grow in this market,
although at a lower growth rate than the rest of the regions.
One of the major driving factors for
this market is increasing deficiency of micronutrients in soil.
Industrialization is demanding more and more land resulting in shortage of land
for agriculture; hence need for more productivity. Increase in population leads
to demand for more cereals. Use of micronutrients in antiretroviral therapy for
HIV positive people is one of the future trends.
Agro-K Corporation, BASF SE, Agrium
Inc. Aries Agro Limited, Cheminova A/S, Bms Micro-Nutrients N.V. Baicor L.C.
Atp Nutrition, Deepak Fertilisers And Petrochemicals Corporation Ltd, Coromandel
International Ltd, Gujarat State Fertilizers & Chemicals Ltd. and Micnelf
Usa Inc. are some of the key players in this market.
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