The Increase in Demand for Metal Chelates has Encouraged BASF SE to Focus on R&D to Innovate New Products for the Global Market to Cater to the Needs of Modern Agriculture
The metal chelates market has many players (small, medium, and large); however, the market is dominated by a few, such as BASF SE (Germany), Akzo Nobel N.V. (The Netherlands), Syngenta AG (Switzerland), Nufarm Limited (Australia), and Haifa Chemicals Limited (Israel), collectively accounting for a significant share in the global metal chelates market. Expansions, agreements, and new product launches were the preferred growth strategies of the key players from 2010 to 2016 for better penetration and coverage, increase in the product portfolio, and to reach new potential markets. Other players such as Aries Agro Limited (India), Protex International (France), Van Iperen International (The Netherlands), Valagro SpA (Italy) and Deretil Agronutritional (Spain), also have a strong presence in this market.
BASF SE (Germany)
BASF SE operates through various business segments including functional materials & solutions, chemicals, performance products, agricultural solutions, oil & gas, and others. The company has a range of products in metal chelates. It operates in more than 80 countries with 380 production facilities, through its subsidiaries. The company mainly operates in Europe and has an active presence in North America, Asia-Pacific, South America, Africa, and the Middle East. It has customers in 200 countries and supplies products to a wide range of industries.
The increase in demand for metal chelates has encouraged BASF SE to focus on R&D to innovate new products for the global market to cater to the needs of modern agriculture. The company’s expanded product portfolio reduces its market risks to a great extent. It has dedicated R&D teams for continuous introduction of new products to gain a major market share and increase the company’s revenues.
In order to expand in the metal chelates market, BASF SE invested in building a world-scale plant for the manufacture of Trilon-M in July 2014. This investment significantly expanded BASF's manufacturing capability of metal chelates. In March 2014, the company has expanded its R&D by opening a new R&D center in Mumbai, India.
AKZO NOBEL N.V (The Netherlands)
Akzo Nobel is one of the leading chemical companies. It operates through three segments namely, specialty chemicals, decorative paints, and performance coatings. The company is one of the leading manufacturers of metal chelates. It has a global presence through its subsidiaries in more than 80 countries, such as the Netherlands, U.S., and Canada.
The company is enhancing its market share by investments and expansions. It is also diversifying its portfolio through new product launch. In addition, Akzo Nobel is focusing on introducing agriculture metal chelates that are not sensitive to pH. The company has maintained its strategic alliances through partnerships, which have helped it to expand its global reach.
Akzo Nobel has enhanced its product portfolio in China in May 2015. It helped to meet the demand in metal chelates market in China. The company has also launched a new product in January 2015 under the brand Bolikel which is marketed by SQM International (Chile) and Yara International (Norway).
Related Reports:
Metal Chelates Market by Type (Primary Nutrients, Secondary Nutrients, Micronutrients), Mode of Application (Soil, Foliar, Fertigation), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), and Region - Global Forecast to 2022
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