- The project at Kvarntorp plant in Sweden involves an investment of over €10 million.
- The expansion is scheduled to be completed by late 2018.
- The focus is on increasing capacity for high performance iron chelates.
- AkzoNobel partners with Yara and SQM for global distribution.
Investment and Expansion
AkzoNobel’s Specialty Chemicals business has initiated a project at its Kvarntorp plant in Sweden to expand production capacity for chelated micronutrients, essential minerals for the agricultural market. The investment exceeds €10 million and aims to meet the growing demand for micronutrients, especially in regions with poor soil conditions. The expansion is expected to be completed by late 2018.
Focus on Iron Chelates
The project will primarily increase capacity for high performance iron chelates, where AkzoNobel holds a market-leading position. These chelates deliver essential metals to plants, enhancing agricultural productivity. They are compatible with various fertilizers and plant protection products, which is crucial as the global population growth reduces arable land, necessitating the cultivation of poor soils.
Global Demand and Distribution
Analysts predict a global micronutrient demand growth of over 5% per year, driven by population growth and water scarcity issues. AkzoNobel’s micronutrients production is concentrated in one North American site (Lima, Ohio, US) and two European sites (Herkenbosch, the Netherlands, and Kvarntorp, Sweden). The company has long-standing partnerships with global fertilizer companies Yara and SQM for worldwide distribution.
Strategic Importance
This expansion supports AkzoNobel’s customers and strengthens its leadership in the micronutrients market. It will help increase agricultural yields in regions with poor soil conditions and support the growing trend towards hydroponic agriculture and urban farming.
