The Report “Latin America Agricultural Micronutrients Market: By Application (Soil, Foliar, Fertigation, Others), Form (Chelated, Non-Chelated), Crop Type (Cereals, Oilseeds & Pulses, Fruits & Vegetables, Others), Type, Geography - Forecasts to 2020”, is estimated to reach $695.8 million by 2020, growing at a CAGR of 7.6% from 2015 to 2020.
Browse through the TOC of the Latin America Agricultural Micronutrients Market for an analysis of industry trends and segments, with the help of various tables and figures.
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The Latin America agricultural micronutrients market has been segmented by crop types into cereals, pulses & oilseeds, fruits & vegetables, and others including floriculture crops, permanent crops, pastures, grasslands, and other cultivations. Intensive agricultural practices and unbalanced use of fertilizers and crop protection chemicals have resulted in the depletion of micronutrients in the soil. Agricultural micronutrients help improve both yield and quality of the crop produce by providing the essential micronutrients required for healthy plant growth. Brazil is expected to dominate this market with its growing demand for agricultural micronutrients in different application mode, especially soil and fertigation.
Corporate agreements and merger & acquisitions are the key approaches being adopted by the players in the market. In terms of volume, zinc is the most-widely used agricultural micronutrient in this region. It is an essential nutrient for enzyme systems, auxins, and protein synthesis. Zinc is required in small but critical concentrations to allow several key plants physiological pathways to function normally. In terms of value, molybdenum segment dominates the Latin America agricultural micronutrients market.
Brazil is the largest market, both in terms of volume and value, followed by Argentina and Colombia. The non-chelated segment dominated the market with a market share of 85% in 2014, due to easy availability and low cost as compared to chelated micronutrients. The key players in the Latin America agricultural micronutrients market are AkzoNobel N.V. (Netherlands) BASF SE (Germany), Coromandel International Limited (India), The Mosaic Company (U.S.), and others.
The agricultural micronutrients demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, expansions, agreements, and mergers & acquisitions of the leading Latin American companies.
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