The agricultural grade zinc chemicals market is anticipated to reach US$ 1.3 billion, growing at a 5.4% CAGR over the course of the forecast year. In the upcoming years, market expansion is probably going to be fueled by the increasing backing from several governments. In 2022, it’s anticipated that the sector will generate US$ 760.0 Million.
Growing prospects for the market for agriculture grade zinc chemicals will result from the expansion of the agricultural sector, particularly in developing nations and from the development of fertilizers.The key driver of the expansion of the market for agricultural grade zinc chemicals is also the increase in research and development by the top manufacturers and the use of zinc chemicals in agriculture.
The chemical fertilizer segment is likely to offer remunerative opportunities for the global agricultural grade zinc chemicals market. Several emerging economies are making significant developments in their agricultural sector, thereby, providing lucrative opportunities to players in the market.
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Key Takeaways:
- By application, the chemical fertilizer segment is expected to record a 5.4% CAGR by 2032
- By type, the zinc sulphate segment to expand at a 5.3% growth rate during the forecast period
- The U.S market to garner US$ 462.2 Million and record a 5.2% CAGR from 2022-2032
- Market in China to procure US$ 92.9 Million, expanding at a 4.8% growth rate during the assessment period
“Growth and expansion of agricultural industry especially in the developing economies, and development in fertilizers, is expected to fuel the demand of agricultural grade zinc chemicals market over the forecast period,” says an FMI analyst.
Competitive Landscape
Eminent players of the global agricultural grade zinc chemicals market include UPL, Syngenta Crop Protection AG, IFFCO, Yara, and Zochem Inc. among others. Recent developments among players include:
- In June 2020 – IFFCO signed MoU with ICAR for collaborative research, testing & extension programs across the country for collaborative research, testing and validation of different products through ICAR institutes and Krishi Vigyan Kendras (KVKs). This will also enable these centers to disseminate technological advancements by imparting training, through awareness programs, campaigns, field trials and demonstrations for the benefit of farmers.
- In May 2021 – Yara, a leading crop nutrition solutions provider, announced the commercial launch of Agoro Carbon Alliance, a global business created for farmers to earn additional revenue from positive climate action. By adopting climate-positive practices farmers can produce Farm Carbon Credits or climate-smart certified crops and help to decarbonize food supply chains.
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Key Segments Covered in the Agricultural Grade Zinc Chemicals Industry Survey
Agricultural Grade Zinc Chemicals Market by Type:
- Agriculture Grade Zinc Oxide
- Agriculture Grade Zinc Sulphate
- EDTA Chelated Agriculture Grade Zinc
- Agriculture Grade Sulphur Zinc Bentonite
- Agriculture Grade Zinc Chloride
- Other Agriculture Grade Zinc Chemical Types
Agricultural Grade Zinc Chemicals Market by Application:
- Animal Feed
- Chemical Fertilizers
- Other Applications
Agricultural Grade Zinc Chemicals Market by Region:
- North America
- Europe
- APAC
- Middle East & Africa
- Latin America
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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