Copper EDTA Market Forecast and CAGR
As per a recent research conducted, Copper EDTA consumption is estimated to witness a growth rate of 3% to 5.0% during the forecast period 2021-2031. The demand for increasing nutrition values in the crops and plants in the agricultural and horticultural field is anticipated to boost the demand of this product in the coming years. Chelated Copper is further used to enhance the copper deficiency in crops and plants in agricultural land, thus creating attractive market prospects.
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What is Driving the Demand for Copper EDTA?
The rising demand for the production of more crops in limited cultivation area owing to the growing population and decreasing area for farming is boosting the demand of plant nutrition products. Chelated Copper is used to enhance the plant nutrition and boost the crop production efficiency. The increasing demand for more fruits and vegetable production in a plant also boosting the demand for Copper EDTA.
Further, owing to the decreasing nutrition values of the crops, due to enormous farming is also benefiting the market, as EDTA copper increases the nutrition values of the plant and of the crops. Moreover, owing to increasing need to mitigate deficiency of Copper in the crops and plants also rising the consumption of the Chelated Copper.
Indoor Farming is expected to drive the consumption of Copper EDTA
The trend of the indoor farming has been observed to be significantly increasing owing to demand for production of small plants and crops in a limited space by consuming less amount of water. Indoor farming, vertical farming saves an enormous amount of water as compare to outdoor farming.
This type of farming needs proper nutrition values for the soil and clay used, which is expected to boost the demand of Copper EDTA in the coming years. Maintaining the nutrients value in the plants and crops in indoor farming will also benefit the sales of Chelated Copper, since proper observations of nutrients value, will be done for the plants.
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U.S. and Canada Copper EDTA Market Outlook
The growing demand for the production of quality plants and crops for food production is expected to benefit the market of Chelated Copper in the coming years in U.S. and Canada. The growing need for high production of agricultural and horticultural products in these countries are also expected to increase the sales of EDTA Copper, as it increases the nutrients value of the crops, which will enhance the yield of the crops.
The growing indoor farming practices in U.S. and Canada is also anticipated to boost the demand for Copper EDTA during the forecast period. Further the growing research in smart farming and growing practices of vertical farming and indoor farming owing to less consumption of resources and producing more food, is projected to boost the consumption rate.
Asia Pacific Demand Outlook for Copper EDTA
Asia pacific region is anticipated to remain a key market for the Chelated Copper consumption over the forecast period owing to substantial production of agricultural and horticultural products. Increasing utilization of modern farming practices and dependency of significant number of people on farming in various countries of Asia Pacific results in the increase in the demand of Copper EDTA.
Further, the growing demand for food crops cultivation owing to the increasing population in the region is also anticipated to boost the consumption rate of EDTA Copper in the coming years. Moreover the growing practices of smart farming and indoor farming in China, Japan and South Korea are also expected to enhance the sales in this region.
Who are the Key Manufacturers and Suppliers of Copper EDTA?
Some of the leading manufacturers and suppliers of Copper EDTA include:
- DOW
- Yara International ASA
- Ava Chemicals Private Limited
- Haifa Negev technologies LTD.
- The Andersons Inc.
- Wilbur-Ellis Company LLC
- Akash Agro Industries
- AVA Chemicals Private Limited
- Van Iperen International
- BAODING KAIYUE CHEMICALS CORP. LTD.
- Shi jiazhuang Tuhong Biotech Co. Ltd.
- Dojindo
- LEMANDOU
- Others
Key market participants are focusing on product development and product innovation to cater the growing need for increasing the yield of the plants and crops. Key manufacturers are focusing on the emerging economies for market penetration, since several emerging economies are depends on agriculture for livelihood.
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