North America Micronutrient Fertilizers Market Size to grow USD 26.61 Billion by 2030 | CAGR of 2.0%Category: Agriculture
North America Micronutrient Fertilizers Market worth $26.61 billion by 2030
According to a research report published by Spherical Insights & Consulting, the North America Micronutrient Fertilizers Market Size to grow from USD 22.27 billion in 2021 to USD 26.61 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 2.0% during the forecast period. The Global North America Micronutrient Fertilizers Market will expand more quickly as a result of the rising demand for sustainable agricultural methods. Fertilizers are organic or synthetic materials that are added to the soil to help plants grow and develop. The rise of the Micronutrient Fertilizers Market will be driven by both the growing need for food and the expanding world population.
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Browse key industry insights spread across 206 pages with 89 market data tables and figures & charts from the report ”North America Micronutrient Fertilizers Market Size, Share, and COVID-19 Impact Analysis By Nutrient (Zinc, Manganese, Copper, Iron, Boron and Others), By Application (Soil, Foliar, Fertigation and Others), By Form (Dry and Liquid), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/north-america-micronutrient-fertilizers-market
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The Zinc segment to account for the largest market size during the forecast period
Based on the Nutrient, the North America Micronutrient Fertilizers Market is categorized into Zinc, Manganese, Copper, Iron, Boron and Others. The Zinc segment to account for the largest market size during the forecast period. The Zinc segment is anticipated to be the leading category during the anticipated years. This is due to at least four plant enzyme systems depend on zinc as a key component. Carbonic anhydrase has a special function for zinc. It supports the activation of several enzymes, enhancing the metabolism of carbohydrates. Washington orchards, maize, wheat, and other agricultural crops are particularly prone to zinc shortage. Little leaf disorder and stunted growth are the main effects of zinc deficiency. Additionally, during the expected period, the region's expanding product demand will drive the market share for North American micronutrient fertilisers.
The Fertigation segment to hold a higher CAGR during the forecast period
Based on the Application, the North America Micronutrient Fertilizers Market is categorized into Soil, Foliar, Fertigation and Others. The Fertigation segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Fertigation segment is anticipated to maintain its leading position while expanding at the fastest CAGR by using a drip system; fertilisers are added to irrigation water using the fertigation technique. The system's micronutrient fertilisers are then equally dispersed during watering. The efficiency is higher since there are more nutrients available. Both liquid and water-soluble fertilisers can be used in the fertigation approach.
The Dry segment to hold a higher CAGR during the forecast period.
Based on the Form, the North America Micronutrient Fertilizers Market is categorized into dry and liquid. The Dry segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Dry segment is anticipated to maintain its leading position while expanding at the fastest CAGR. In order to help the release of micronutrients to the crops over a longer period of time, dry micronutrient fertilisers are often designed to be absorbed into the soil. Additionally, dried micronutrient fertilisers are simple to handle and store and require little caution when being transported and handled.
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U.S. to hold a higher CAGR during the forecast period.
The North America Micronutrient Fertilizers Market has been segmented into: US, Canada, and Mexico. Given the rising demand for agricultural products, the shrinkage of arable land in the U.S. is a major source of worry. A lot of farmers in the nation are attempting to increase their farm yields by using various fertilisers. Due to growing knowledge of the advantages of using micronutrient fertilisers and the impacts they can have on the quality & growth of crops, the use of these fertilisers has also begun to increase. The countries' agricultural sectors concentrate on growing foods with the right balance of micronutrients.
Major vendors in the North America Micronutrient Fertilizers Market include BASF Cognis, Evonik Industries, Ecover, Lion Corporation, Croda International PLC, Biotensidon GmbH, AkzoNobel N.V., Saraya Co., Ltd., Jeneil Biotech, Inc., and Givaudan SA (Soliance).
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