The latest report by IMARC Group, titled “Fertilizer Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global fertilizer additives market size reached US$ 2.88 Billion in 2021. Fertilizer additives are chemicals that are incorporated with fertilizers to enhance nutritional benefits. They offer anticaking properties that preserve the granular nature of fertilizers and provide water resistance. They also prevent the formation of lumps and dust and the loss of essential nutrients, such as phosphorus, potassium, nitrogen, and sulfur. In addition, they exhibit anti-corrosion properties that prevent corrosion of the container used for transportation. As a result, fertilizer additives are widely utilized across the agriculture industry.
Global Fertilizer Additives Market Trends:
The market is primarily driven by the rising awareness among individuals about soil deterioration caused by conventional agricultural practices. Fertilizer additives are utilized as anti-dusting, corrosion inhibitors, and hygroscopic agents as they inhibit the loss of macro and micronutrients and improve the productivity of the soil. In addition, the implementation of various government initiatives to spread awareness among farmers about the use of value-added fertilizers and fertilizer additives represents another major growth-inducing factor. Besides this, governing authorities of various countries are also extending their support to agriculture by offering grants and subsidies, which are also contributing to market growth. Moreover, various technological innovations, the escalating demand for urea-based fertilizers, the growing inclination of farmers toward improving crop productivity, and the expanding agricultural sector are some of the other factors creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 3.36 Billion by 2027, exhibiting a CAGR of 2.54% during the forecast period (2022-2027).
- Based on the function, the market has been categorized into dust control agent, anticaking agent, antifoaming agent, hydrophobing agent, corrosion inhibitor, and others.
- On the basis of the form, the market has been classified into granular, prilled, and powdered.
- Based on the application, the market has been segmented into urea, monoammonium phosphate, triple super phosphate, diammonium phosphate, ammonium nitrate, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Amit Trading Ltd, ArrMaz (Arkema S.A.), BASF SE, Clariant AG, Corteva Inc., Dorf-Ketal Chemicals India Private Limited, Holland Novochem B.V., Hubei Forbon Technology Co Ltd, KAO Corporation, Michelman Inc., Solvay S.A., and Tolsa SA.
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