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BASF SE (Germany) and Agrium Inc. (U.S.) are Leading Players in Agricultural Micronutrients Market
The agricultural micronutrients market has many players (of small, medium, and large scale); however, the industry is dominated by a few, which include Agrium Inc. (U.S.), BASF SE (Germany), Akzonobel N.V. (Netherlands), Yara International ASA (Norway), and The Mosaic Company (U.S.). Acquisitions, agreements, partnerships, and divestments are the preferred growth strategies in this market. The purpose of adopting these strategies is that it results in better market penetration and market coverage, increases geographical presence, and helps to reach new potential markets. Other players such as Auriga Industries A/S (Denmark), Coromandel International Ltd. (India), SAPEC SA (Belgium), Haifa Chemicals Ltd. (Israel), and Valagro (Italy) also have a strong presence in this market.
BASF SE (Germany)
BASF SE is one of the leading players in the agricultural micronutrients market, and develops and produces micronutrient products prepared from zinc, copper, and others for cereals, fruits & vegetables, and other crop types. The company operates through six business segments, namely, chemicals, functional solutions, performance products, oil & gas, agricultural solutions, and others (construction, paints & coatings, homecare and I&I cleaning, and pharmaceuticals). BASF exports its products to almost every country in the world. The company has adopted expansion as its key strategy. In July 2014, BASF SE opened the new BasCat Laboratory building at TU Berlin that would help the company to research further on micronutrients.
Agrium Inc. (U.S.)
BIOMIN Holding GmbH is a manufacturer of agricultural micronutrients and other fertilizers. The company offers crop nutrients, including sulfur, nitrogen, potash, phosphates, and micronutrients; adjuvant products; crop protection products such as herbicides, fungicides, insecticides; and merchandise products such as fencing, livestock-related animal health products, feed supplements, irrigation equipment, and other products. It is focused on expanding its business through acquisitions and expansions. Acquisition is one of the top strategies adopted by Agrium Inc. In October 2013, the company acquired International Mineral Technologies (Tetra Micronutrients) (U.S.), a producer of liquid plant nutrition and dry micronutrient products that would help the company to expand in the agricultural micronutrients market.
Agricultural Micronutrients Market by Type (Zinc, Boron, Copper, Manganese, Molybdenum & Iron), Mode of Application (Soil, Foliar & Fertigation), Form (Chelated & Non-Chelated), Crop Type, and by Region - Global Trends & Forecast to 2021
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