Market Research Future (MRFR) reveals that the global fertilizer additives market can expect a lucrative run during the forecast period.
Growth Boosters and Key Challenges
Fertilizer additives are used for stimulating the productivity of fertilizers. The demand for higher agricultural yields goes hand in hand with the mounting demand for basic nutrients and good quality of fertilizers. This factor plays a stellar role in the surging demand for fertilizer additives, boosting the market growth in the process. In addition, fertilizer additives are utilized for enhancing the quality as well as stability of fertilizers and soil, restrict the loss of nutrients including phosphorus, nitrogen, sulfur, and potassium, and also stop corrosion of the container that is used in transporting the product. These are also used for offering anti-foaming and anti-caking properties to the fertilizer.
The demand for fertilizer additives is increasing for the purpose of restricting loss of primary nutrients like phosphorous, nitrogen, sulfur and potassium. Moreover, these are used for preventing the formation of lumps in fertilizers particularly in rainy seasons on account of increase/decrease of storage temperatures. Hence, fertilizer additives are instrumental in the maintenance of fertilizers’ quality. On top of that, the spike in demand for agricultural commodities is further elevating the market position.
The worldwide fertilizer additives market is inundated with numerous opportunities for the industry participants, based on the advancements in the fertilizer industry along with the rapid rise in the global economy. Besides, the diminishing arable land, adoption of latest technologies for producing fertilizers, and the rising number of farmers willing to spend more to attain higher productivity are working in favor of the fertilizer additives market. On a different note, toxic impact on the environment owing to the chemical fertilizers can work against the market in the near future.
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Some of the esteemed companies shaping the worldwide fertilizer additives market include Tolsa SA (Spain), Kao Corporation (Japan), Clariant AG (Switzerland), Hubei Forbon Technology Co. Ltd. (China), Holland Novochem B.V. (the Netherlands), ArrMaz Custom Chemicals, Inc. (U.S.), Michelman, Inc. (U.S.), Amit Trading Ltd. (India), Chemipol SA (Spain), Filtra Catalysts & Chemicals Ltd. (India), to name a few.
The worldwide fertilizer additives market has been segmented on the basis of type, form, and function.
Depending on the type, the market is considered for ammonium nitrate, ammonium sulfate, mono-ammonium phosphate, di-ammonium phosphate, triple superphosphate, urea, and others. Among these, the urea fertilizer additives segment leads the global market owing to its high demand among farmers. Urea is used for enhancing the quality of soil, provide nitrogen to the plants, and also accelerate crop yield.
Form-wise, the market caters to powder, granular, prilled, and others, wherein the powdered segment reigns with the largest coverage of the market.
With context to function, the fertilizer additives market can be broken down into anti-foaming agent, anti-caking agents, corrosion inhibitors, hydrophobic agent, de-dusting agent, and others. Between these, the anti-caking segment covers the largest share of the market as caking is a common issue in dry fertilizer production, transport, application and storage. This accelerates the demand for anti-caking agent worldwide.
The key fertilizer additives markets are Europe, Asia Pacific, North America, as well as the rest of the world (RoW).
Asia Pacific is projected to be one of the strongest contenders in the worldwide market owing to the massive agriculture sector found in the region. India, whose economy is mostly dependent on agriculture, is poised to demonstrate consistent growth during the conjectured time frame. Meanwhile, China will be noting rapid growth as well, with respect to product demand. This is true due to the expanding agricultural sector in the country, combined with the flurry of latest innovations and modern technologies. Agriculture is responsible for close to 15.0% of the annual gross domestic product (GDP) of China, which is touted to be the chief reason for the market expansion. Similarly, agriculture being the key business in India, drives the fertilizer additives market in the country.
Like Asia Pacific, agriculture is one of the most important sectors in Europe, impacting its economy to a large extent. For example, in France, nearly 60.0% of the land is utilized for agriculture as well as similar activities. The country is one of the biggest producers of oilseeds, cereals, sugar beets and milk. Also, the reform of the Common Agricultural Policy passed in the region for maintaining environmental balance favors the regional market. Reports say that in 2015, France made up over 18.0% of the fertilizer additives market in Europe.
The United States (U.S.) leads the fertilizer additives market in North America. The regional market benefits from the rising consumer awareness along with the increasing demand for vegetables, fruits, pulses, cereals, and various other crops.
Acron Group, in a bid to increase the production of nitric acid, has developed a 135 000 TPY nitric acid unit in Veliky Novgorod. Nitric acid is a chief fertilizer additive, which was first produced in the 1970s at the Veliky Novgorod site.
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