Newark, April 20, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global fertilizer additives market is expected to grow from USD 3.58 billion in 2020 to USD 4.65 billion by 2030, at a CAGR of 3.36% during the forecast period 2021-2030.
The fertilizer additives market has been grown at a substantial rate over the past few years. The rapid growth of the global population has increased the demand for food production.
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The United Nations (FAO) forecasts that the rising population is expected to increase the food demand by 70% by 2050. Increased food production has a requirement of greater inputs such as land, water, and fertilizers. Thus, rising demand for food production is boosting the fertilizer industry's growth, resulting in driving the need for fertilizer additives.
Fertilizer additives are the substances that are used in the fertilizers to improve the quality and stability of the fertilizers. These additives are generally added to the fertilizers to enhance productivity. They are also used to prevent loss of nutrient content from the fertilizers and lump formation in fertilizers. Among other benefits, the fertilizer additives improve the cost economics of fertilizer production by enhancing, reducing downtime, capacity utilization, and increasing the recovery of nutrient inputs. Various types of fertilizer additives are present in the market, such as hydrophobic agents, anticaking agents, antifoam agents, dedusting agents, corrosion inhibitors, etc.
The fertilizer additives market is experiencing high growth, owing to the rising consumption of fertilizer across the globe. The robust growth of the fertilizer industry and the increasing global population are driving the growth of the global fertilizer additives market. In addition to this, the rising demand for fertilizer additives to retain the nutrient content of the fertilizers further boosts the market's growth. However, the increasing preference for organic farming due to the adverse impact of fertilizers on soil and human health could hamper the growth of the market over the forecast period. In addition to this, the high fluctuation in the raw material prices of the fertilizer additives could also impede the market's growth over the forecast period. Besides, rising research and development activities for the production of fertilizer additives on a large-scale basis are expected to offer future opportunities for the key players in the market.
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Major players in the global fertilizer additives market are Novochem Group, Tolsa Group, Clariant Mining Solutions, Amit Trading LTD., Filtra Catalysts & Chemicals Ltd., Chemipol, KAO Corporation, Michelman, Forbon Technology, and Arkema among others. The key players of the global fertilizer additives market are majorly focusing on the adoption of various strategies such as widening the product portfolio, product innovations, mergers & acquisitions, geographical expansion, and forming a strong distribution network to gain a significant market share in the industry.
• In July 2019, Arkema, a specialty chemicals and advanced materials company announced the acquisition of ArrMaz, a global leader in specialty surfactants for crop nutrition. This acquisition is expected to strengthen the regional exposure, as well as commercial and technological capabilities of Arkema.
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The anticaking agent accounted for the major market share and was valued at USD 1.36 billion in the year 2020
The function segment is divided into the hydrophobic agent, anticaking agent, antifoam agent, dedusting agent, corrosion inhibitors, and others. The anticaking agent accounted for the major market share and was valued at USD 1.36 billion in the year 2020. The anticaking agent is placed in the fertilizer to prevent the formation of lumps and caking. It eases the packaging, storage, and consumption of fertilizers. The anticaking agent provides long-lasting and robust methods for controlling the caking in the fertilizers.
The granular form segment is anticipated to grow at the highest CAGR of 4.9% over the forecast period
The form segment includes granular, powder, and others. The granular form segment is anticipated to grow at the highest CAGR of 4.9% over the forecast period. Granular form fertilizer additives have characteristics of dustproof and free-flowing. The granular form of fertilizer additives provides the benefits of a more uniform mixture with the fertilizers.
The urea segment held the major market share and was valued at USD 1.87 billion in the year 2020
The application segment is divided into urea, ammonium nitrate, ammonium phosphate, ammonium sulphate, and others. The urea segment held the major market share and was valued at USD 1.87 billion in the year 2020. Urea is the most commonly used fertilizer for agriculture purposes across the globe. The main function of the urea is to offer nitrogen to the crops for green leafy growth. The fertilizer additives help to retain the nutrient content of the urea.
Regional Segment Analysis of the Fertilizer additives Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region dominated the global fertilizer additives market and valued at USD 1.55 billion in the year 2020. China and India held the largest market share in the Asia Pacific region, mainly due to large agriculture zone present in these countries. Agriculture is a primary sector of the India and it is expected to drive the global growth of fertilizer additives market over the forecast period. China has a modern agriculture industry and also plays significant role in the growth of the fertilizer additives market. Currently, China ranks first in the world in terms of the production of cotton, cereals, fruits, vegetables, etc. The Europe region is anticipated to grow at the significant growth rate over the forecast period. The agriculture industry is one of the key contributors in the Europe’s economy growth.
About the report:
The global fertilizer additives market is analyzed on the basis of value (USD Billion) and Volume (Tons). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, and competitor position grid analysis.
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