North America Crop Micronutrients Market Size, Share & Industry Trends Analysis Report By Form (Chelated and Non-Chelated), By Application (Soil, Foliar, Fertigation, and Others), By Crop Type, By Type, By Country and Growth Forecast, 2022 - 2028
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the North America Crop Micronutrients Market
Market Report Description
The North America Crop Micronutrients Market would witness market growth of 6.6% CAGR during the forecast period (2022-2028).
Molybdenum (Mo) is an essential nutrient found in soil that is essential for nitrate reductase enzyme formation and function. In legume root modules, molybdenum is required for symbiotic nitrogen (N) fixation by Rhizobia bacteria. Considering the significance of molybdenum in plant growth, it's fortunate that Mo deficiency is uncommon in most agricultural cropping areas. A few years back, nickel (Ni) was put on a list of necessary plant nutrients. Because nickel is a component of the urease enzyme, it is vital in plant nitrogen metabolism. The conversion of urea is impossible without the presence of Ni. It's only needed in trace amounts, with the essential level estimated to be at 1.1 ppm.
Soil application is the most prevalent technique of micronutrient distribution for crops. Because recommended treatment rates are typically less than 10 lb/acre, it's difficult to apply micronutrient sources individually in the field. As a result, granular and fluid NPK fertilizers are frequently utilized as micronutrient transporters.
To grow normally, Western Canadian crops require 17 critical components. More than 90% of fresh plant tissue is made up of hydrogen, carbon, and oxygen received from the air. Nitrogen (N), potassium (K), phosphorus (P), calcium (Ca), sulphur (S), and magnesium (Mg) are all macronutrients that come from the soil and are required in considerable proportions (Mg). The exception is legumes, which fix nitrogen from the air. Ca and Mg are not limited in Saskatchewan, with a few exceptions, due to the composition of the soils. Fertilizer and manure are frequently used to enhance the soil's supply of N, P, K, and S.
Because they are required at small levels, the remaining important elements acquired from the soil are referred to as micronutrients. Boron (B), copper (Cu), chloride (Cl), manganese (Mn), iron (Fe), nickel (Ni), molybdenum (Mo), and zinc (Zn) are the elements involved (Zn). Plants need a balance of all essential elements for appropriate growth and optimum production; hence micronutrients are critical for plant growth.
The US market dominated the North America Crop Micronutrients Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,489.5 million by 2028. The Canada market is experiencing a CAGR of 9.1% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 8.1% during (2022 - 2028).
Based on Form, the market is segmented into Chelated and Non-Chelated. Based on Application, the market is segmented into Soil, Foliar, Fertigation, and Others. Based on Crop Type, the market is segmented into Cereals & Grains, Pulses & Oilseeds, Fruits & Vegetables, and Others. Based on Type, the market is segmented into Copper, Zinc, Boron, Iron, Manganese, Molybdenum, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Compass Minerals International, Inc., The Mosaic Company, Nutrien Limited, DuPont de Nemours, Inc., Akzo Nobel N.V., Aries Agro Limited, Yara International ASA, Baicor, LLC, and Western Nutrients Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Crop Type
- Cereals & Grains
- Pulses & Oilseeds
- Fruits & Vegetables
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- BASF SE
- Compass Minerals International, Inc.
- The Mosaic Company
- Nutrien Limited
- DuPont de Nemours, Inc.
- Akzo Nobel N.V.
- Aries Agro Limited
- Yara International ASA
- Baicor, LLC
- Western Nutrients Corporation
Unique Offerings from KBV Research
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free