Fertilizer Additive Market to Push Incremental Revenues in the Global Market With Top Key Players Like Arkema Group,Solvay,Kao Corporation,Chemipol S.A.,Omex Agriculture, Inc.,Novochem Group

The global fertilizer additive market is expected to reach US$ 3,963.0 Mn in 2027 from US$ 3,216.2 Mn in 2018. The market is estimated to grow with a CAGR of 2.4% from 2019-2027.

North America accounted for the second-largest share in the global fertilizer additive market. Rising demand for agricultural products in countries like the US, Canada, and Mexico in the North American region is projected to boost the fertilizer additives market during the forecast period.

Additionally, the major key players are actively involved in the research & development in order to enhance the quality of fertilizer additives. The US is one of the major markets in North America.

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Company Profiles

o Arkema Group
o Solvay
o Kao Corporation
o Chemipol S.A.
o Chemsol LLC
o Clariant
o Dorf Ketal
o Michelman, Inc.
o Omex Agriculture, Inc.
o Novochem Group

Robust Growth Of Fertilizers Industry
The growth of the agriculture industry contributes significantly to the economy of any country.

According to the International Fertilizer Association (IFA), in 2016, nitrogen consumption, phosphate consumption, and potassium consumption increased by 2.4%, 4.5%, and 2.5%, compared to that in 2015.

According to the association, during 2006-2016, the average consumption rates were 1.4%, 1.2%, and 2.3% for nitrogen, phosphate, and potassium, respectively. The IFA estimates nitrogen fertilizer demand growth at 1.1% per year through 2021, while the growth rate of phosphate and potassium fertilizers would be 1.6% and 2.2% a year, respectively.

A fertilizer is an essential industry serving global food production. According to the International Fertilizer Association (IFA), grain production is the most noticed agricultural activity, with global output estimated by USDA at 2.61 billion tonnes for the 2017 harvest. It would not be possible for grain producers to achieve this large-scale production without intensive agriculture and use of mineral fertilizers. Grains are the biggest end market for fertilizers, followed by cash crops such as vegetables, fruit, flowers, and vines.

Growth Potential in Emerging Countries

Agriculture is essential to emerging market economies. According to the data published in 2018 by International Finance Corporation, globally, two-thirds of the world's poor population (~750 million people) work in rural areas.

Governments in countries such as Brazil are offering subsidies to reduce the cost of fertilizers to farmers. Brazil is the world's fifth-largest fertilizer consumer, generating ~30 percent of its requirements and importing the rest. Also, it is the world's second-largest importer of both phosphate fertilizers and potash.

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This release was published on openPR.