Increased biofuel demand supporting global micronutrients market

May 2, 2016 |

In the UK, according to the latest research study released by Technavio, the global agricultural micronutrients market is expected to grow at a CAGR of over 8% until 2020 in large part thanks to growing demand for biofuels.

This research report titled ‘Global Agricultural Micronutrients Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various application segments, including soil, foliar, fertigation, seed treatment, and others.

“Farmers have increased their production of biofuel crops and have turned to nutrients to maximize yields. Therefore, the rise in the demand for biofuels is propelling the production of bio-crops such as sugarcane and is boosting the demand for agricultural micronutrients globally. Bioethanol and biodiesel are considered the most sustainable alternatives to the existing counterparts. Bioethanol is sourced from wheat, soybean, corn, rapeseed, and sugarcane. Biodiesel is sourced from Jatropha, sunflower, soybean, mustard, rapeseed, flax, canola, palm oil, hemp, and waste vegetable oils,” said Chandrakumar Badala Jaganathan, one of Technavio’s lead analysts for agrochemicals and fertilizers research.

Category: Fuels

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