- €10 million investment in Sweden to expand chelated micronutrient capacity
- Expansion to be completed next year
- Focus on high performance iron chelates
- Partnerships with Yara and SQM for global distribution
Investment and Expansion
AkzoNobel is investing over €10 million in Sweden to expand its capacity for chelated micronutrients, essential for the agricultural market. The project, located in Kvarntorp, aims to meet the growing demand for micronutrients, especially in regions with poor soil conditions. The expansion, set to be completed next year, will primarily increase capacity for high performance iron chelates, where AkzoNobel holds a market-leading position.
Market Demand
According to Wout Neleman, Director of Micronutrients at AkzoNobel, the demand for high performance chelates is rapidly increasing. Analysts predict a global micronutrient demand growth of over 5% per year, driven by population growth and water scarcity issues in many regions. High performance chelates are crucial for delivering essential metals to plants, thereby boosting agricultural productivity. This is particularly important as the rising global population reduces the amount of arable land available for food production, necessitating the cultivation of poor soils.
Application and Technology
One key application method for these micronutrients is fertigation, where plant nutrients are supplied in a liquid solution. This method is vital for enhancing agricultural productivity in challenging soil conditions. The expansion aligns with the growing trend towards hydroponic agriculture and urban farming, which are becoming increasingly important in addressing food security issues.
Global Partnerships
AkzoNobel has established partnerships with global fertilizer companies Yara and SQM for the worldwide distribution of its chelated micronutrients. These micronutrients are also produced in other locations, including Herkenbosch in the Netherlands and Lima, Ohio in the United States.
