Humin Market: Overview
Humic substances like humus, humate, fulvic acid, organic matter, and humin play a key role in soil fertility. Plants grown in soil having an adequate amount of humic substances are healthier, produce higher yields; and have superior nutritional quality. Humins are that part of humic substances that not soluble in acids (low pH) or alkalis (high pH). These are not soluble in water at any pH. Humins are macro organic substances as their molecular weights range from approximately 100,000 to 10,000,000. Out of all the humic substances, humins have relatively low capability to decompose in soil owing to their physical & chemical properties. Humin molecules are like stable carbohydrate like materials that form an aggregate component within the soil. Humins pull nutrients, and organic molecules else emphatically bound to soil particles and provide a site for soil microorganisms to process them via enzymes into forms which then serve to advance feed other soil life and plants. Humins within the soil improves the soil’s water holding capacity, maintain soil stability, improve soil structure, function as a cation exchange system and improve overall soil fertility.
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Humin Market: Dynamics
The growing demand for organic produce is the key driving factor for the humin market. In developed economies like North America and Western Europe, the rising awareness about harmful effects of synthetic agrochemicals & chemical fertilizers is driving the market for humin based products for soil. The government imposed regulations like Common Agricultural Policy of the European Union promotes the usage of bio-based resources in farming. In these regions, stringent regulations inhibiting usage of certain chemical fertilizers will drive the demand for humin fertilizers. In other regions, the rising demand for food and pressure to achieve maximum output from the cultivable land will create opportunities for the humin based product in these markets.
Less popularity of organic farming in regions like APEJ and MEA might cause hindrance to the humin market. Additionally, the use of cheap chemical fertilizers like urea pose a grave threat to humin market in these regions. Inconsistency in the available product quality might also restrain the market to some extent.
Humin Market: Regional Outlook
Geographically, the Global humin market is designed for seven regions namely, North-America, Western Europe, Asia Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. Currently Europe holds the largest market share in the global humin market owing to the government support in European Union. Europe is also the largest producer of humic substances. North America holds second most significant market share in the global humin market owing to exponentially rising demand for organic produce. Growing economies of APEJ are expected to experience noticeable growth over the forecast period. The humin market is coming into light owing rising awareness about harmful effects about synthetic fertilizers, globally. The overall outlook for the global humin market is expected to positive with compound annual growth rate of over about 8 percent.
Humin Market: Segmentation
The Global Humin Market is segmented by form and application.
Based on the Form, humin market is classified into followings:
Based on the application, humin market is classified into followings:
- Drilling Fluids
- Other Applications (ecological bioremediation, vertical farms, medicines, etc.)
Humin Market: Segment Outlook
Amongst the application segment in global humin market – agriculture holds the most significant market share and is expected to have maximum growth rate throughout the forecast period, followed by horticulture.
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Humin Market: Key Players
- HUMINTECH GmbH
- The Andersons, Inc.
- Canadian Humalite International
- Humin Earth Organics
- Helena Chemical Company
- Shenyang Humate Technology Co., Ltd.
- Fertechnik Ltd.
- L.Gobbi Srl unipersonal
- Sapropeat (Africa) Ltd
- Maxwell Amenity Ltd
Key manufacturers of humin are focusing on product development including enabling wider industrial applications with the help of their R&D department.
Humintech GmbH is a member of European Biostimulant Industry Council (EBIC), Europe’s biggest association of biostimulant producing companies. Biostimulants, or plant fortifiers, allow for a more sustainable and resistant cultivation, especially in organic farming.
The humin market is likely to witness more product innovations which will trigger the market growth during the forecast period.
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