NEWARK, Del, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The fertilizer additive market is estimated to be worth US$ 1,167.62 million in 2023 and is projected to be valued at US$ 1,761.88 million in 2033. Between 2023 and 2033, the industry is expected to register a growth rate of 4.20%.
The increasing use of fertilizer additives for crop production, the overall growth of agricultural production worldwide, and the overall growth of the agriculture industry worldwide contribute to the market's development. The growing concern towards yield enhancement has led to various formulations of fertilizers that incorporate unique fertilizer additives to impart necessary properties as per climate, soil type, and crop type across regions. This trend and typical usage formats significantly push the global fertilizer additive market.
The environmental impact of traditional fertilizers, such as nutrient runoff and water pollution, has raised concerns. Fertilizer additives can help reduce these adverse environmental effects by optimizing nutrient release uptake and reducing nutrient loss. The growing environmental concern driving the market demand. Fertilizer additives can improve the efficiency of nutrient uptake by crops, reducing the amount of fertilizer required for the same yield. This not only saves costs for farmers but also reduces the environmental impact of excess fertilizer application.
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The growing awareness among consumers about the environmental and health impacts of agricultural practices. This awareness has pushed producers and policymakers to seek more sustainable and environmentally friendly solutions, expected to drive the growth of the fertilizer additive market during the forecast period. The growing shift towards sustainable and regenerative agricultural practices has also increased the demand for fertilizer additives.
Key Takeaways
- In 2022, the fertilizer additive market was valued at US$ 1,119.05 million.
- Based on product type, the anti-caking agent segment is expected to account for a share of 54.6% in 2023.
- Global fertilizer additive demand in China is predicted to account for a CAGR of 5.80% through 2033.
- Fertilizer additive in the United States is expected to account for a CAGR of 2.60% between 2023 and 2033.
- Japan is projected to expand by a value CAGR of 1.70% between 2023 and 2033.
- By 2033, the fertilizer additive market in India is anticipated to record a CAGR of 7.90% during the forecast period.
“The rapidly growing agricultural sector, with a focus on food security and increased crop yields. are anticipated to drive the market growth during the forecast period." says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape
The global fertilizer additives market depicts a fragmented competitive landscape due to numerous players in the market. The key players in the market have adopted innovative strategies like mergers, partnerships, and acquisitions to enhance their market presence and strengthen their market hold.
- Clariant AG is a global specialty chemicals company that produces a range of additives for various industries, including agriculture. They offer products like AGRIFIX, designed to improve the stability and performance of granular fertilizers.
- Solvay S.A. is a multinational chemical company that provides various solutions for agriculture. They offer products like TIXOSIL® and HYPHOS® that improve fertilizers' flowability and anti-caking properties.
- KAO Corporation is a Japanese chemical and cosmetics company. They produce a variety of fertilizer additives, including anti-caking agents and coating agents to improve the handling and release of nutrients from fertilizers.
Key Companies Profiled
- Clariant AG
- Arkema S.A
- Dorf Ketal
- ArrMaz
- Timac Agro USA
- Michelman, inc.
- Hubei Forbon Technology Co Ltd
- Fertibon Products Pvt Ltd
- Chemipol SA
- Neelam Aqua & Speciality Chem (P) Ltd
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More Valuable Insights Available
Future Market Insights offers an unbiased global fertilizer additives market analysis, providing historical data from 2018 to 2022 and forecast statistics between 2023 and 2033.
To understand opportunities in the fertilizer additives market, the market is segmented based on Product Type (Anti- Caking Agent, Dust Suppressor, Drying Agent, Granulation Agent, Others) by Application (N(Nitrogen), P2O5, K2O, Others), Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).
About the Chemicals and Materials Division at Future Market Insights
The chemicals and materials domain at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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