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 reached a value of US$ 2.88 Billion in 2021. Fertilizer additives are ingredients that are used to improve the quality and stability of fertilizers. They prevent the loss of nutrients like phosphorus, sulfur, nitrogen, and potassium to enhance the efficiency of various fertilizers and stimulate the productivity of the soil. They also provide anti-foaming and anti-caking characteristics to the fertilizer and prevent the corrosion of the container that is used for transportation. Based on the manufacturing process, fertilizer additives are commonly available in various forms, including granules, pellets, prills, crystals, and fine powder, which can be used according to the application process.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fertilizer Additives Market Trends:
The market is primarily driven by the increasing demand for food and food security across the globe. On account of rapid urbanization and the growing population, there has been a higher demand for food, which is propelling the requirement for fertilizer additives that inhibit the loss of key nutrients from the soil and enhance productivity. These additives are deployed during storage and transportation, which helps safeguard the product in case of fluctuating storage temperatures. Fertilizer additives also prevent the formation of lumps during the rainy season, thereby maintaining the quality of the product. In addition to this, the limited availability of arable land, coupled with the adverse effects of conventional agricultural practices, are fueling the market growth. Furthermore, governments across various countries are implementing initiatives to support the agriculture sector, such as offering grants and subsidies for research and development (R&D) activities on fertilizer additives that improve crop productivity, which is creating a favorable market outlook. Looking forward, the market value is expected 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 segmented 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.
- The market has been categorized based on the application 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, with some of the key players being Amit Trading Company, ArrMaz Products Inc. (Arkema S.A.), BASF SE, Clariant Limited, Corteva Agriscience Inc., Dorf Ketal Chemicals Private Limited, Holland Novochem B.V., Hubei Forbon Technology Co Limited, KAO Corporation, Michelman Inc., Solvay S.A., and Tolsa SA.
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