Manmade Humic Acid Fertilizer Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1748
Manmade Humic Acid Fertilizer Market size is expected to rise significantly with growing agriculture sector. Since the chemical industries are going under industrial and technological interruptions the product demand is likely to be driven by this factor.
The product manufacturers are mainly focusing on utilizing the alternative source of energy by using some unconventional production methods, which is predicted to generate innovative opportunities for the industry development over the longer period of time. Increasing awareness regarding humic acid’s role in improving the quality of soil and further enhancing the plant growth is likely to fuel the manmade humic acid fertilizer market.
Being beneficial over other chemical fertilizers, humus compounds provide essential nutrients which foster the plant growth. Upsurge in government interventions regarding ecological products will boost the industry demand. Excess application of synthetic products on crops and soil leads to hazardous results which is considered to impel the industry. Also, low cost involved as compared to other product may propel the manmade humic acid fertilizer market.
HAs and FAs are final breakdown elements of natural decay of animal and plant materials. They are formed through the biological and chemical humidification of animal and plant matter and through biological activities of microorganisms. They have complex molecule structure and normally they exist in oceans, peats, fresh water and soils. It is obtained in brown to black colour from the sedimentation layers of deep earth crust which are referred as Leonardite.
Manmade humic acid fertilizer market is expected to rise owing to its increasing use and beneficial impact on the cultivation and growth of crops. Another benefits associated in using this product are healthier plants and improved yields, better seed germination, enhanced nutrient uptake, accelerated chlorophyll synthesis and addition of organic matter to originally deficient soils.
On the basis of the crop types, manmade humic acid fertilizer market is divided into fruits & vegetables, pulses & oilseeds and cereals & grains. It is widely applied in agriculture, horticulture and floriculture. Among these agriculture sector is anticipated to fuel the product demand during the estimated years with rising awareness and benefits associated with the product.
Based on its application, manmade humic acid fertilizer market is segmented into seed treatment, soil treatment and foliar treatment. Amongst, seed treatment and soil treatment is considered to be the fastest growing application segment with rising benefits associated in enhancing plant nutrients supply and improving soil quality for cultivation of plants.
North America manmade humic acid fertilizer market is the largest industry and is expected to be the same over the forecasted years. Intensifying technological disruptions in chemical industry in the region will anticipate the market. Easy accessibility of raw materials and technological advancement in producing this acid will foster the industry demand. Also, soaring awareness in using these products and expanding number of manufacturers and consumers in the region will have a positive impact on the industry size.
Europe manmade humic acid fertilizer market is second largest region and is expected to witness the same strong development in the region. Research and development activities involved in meeting the specific customer needs and demands will stimulate the market. Moreover, increasing farming industry in central and western Europe will encourage the industry growth.
Asia Pacific manmade humic acid fertilizer market is the fastest rising industry owing to surge in organic farming industry. Increasing demand for higher productivity from limited available cultivable land in the region will augment the industry growth. Additionally, rising government norms on utilizing eco-friendly products will reinforce the industry demand. Growing awareness in using this product in farmers will further enhance the manmade humic acid fertilizer market. Also, government subsidiaries and initiatives to promote organic farming in several countries will flourish the product demand.
Global manmade humic acid fertilizer market is considered to be moderately fragmented. Some of the prominent players present in the market across the world are Humintech, China Green Agriculture, Xinjiang, Double Dragon, Nutri-Tech Solutions, Jiloca Industrials, ODUS, Vellsam Materials Bioactivas, Omnia Specialities, Canadian Humanlite, Arihant Bio Fertichem, HCM Agro Prodcuts and Grow More.
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