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Fertilizer Additives Market Has Witnessed A Moderate Growth Rate At A CAGR Of 3.2% Over The Past Half-Decade: Fact.MR

01-14-2022 09:15 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

The global fertilizer additives market has witnessed a moderate growth rate at a CAGR of 3.2% over the past half-decade. However, the ongoing COVID-19 outbreak, especially in South Asia & Oceania and North America, has effected the movement of people, cascading the effect towards the fertilizer additives market.

Lowered prices of agricultural products over the 3rd quarter has declined the demand for fertilizer additives in Europe and North America. Growth rate of the market could be analyzed with respect to the nominal growing and mature agricultural chemicals demand.

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According to a recently published Fact.MR study, the fertilizer additives market is estimated to witness moderate growth during the 2018-2028 period owing to the decrease in the average arable land and growing demand for food and agricultural produce. Technological innovations and modern-day advancements are helping manufacturers develop fertilizer additives that enhance fertilizer performance significantly and increase the average crop yield.

Anti-caking agents which prevent the formation of lumps in powdered fertilizers are expected to hold a substantial share of the fertilizer additives market. These agents are composed of fats and oils which prevent the interaction between atmosphere and fertilizer particles.

Manufacturers are finding anti-caking agents increasingly effective as the absence of lumps in fertilizers aid them in effectively handling, packaging, and transporting fertilizers. Further, the absence of anti-caking agents in fertilizers can cause agglomeration which prohibits the material from evenly distributing in the fields and hence results in wastage. Additionally, agglomeration of fertilizers can block flow passages of machines used for distributing fertilizers, clearing which incurs hefty costs.

The recent research by Fact.MR opines that these factors are vital drivers of the growing demand for anti-caking agents which accounted for over 50% of the fertilizer additives market share in 2018. Additionally, the introduction of organic anti-caking agents for use in fertilizer manufacturing is further estimated to bolster market growth as demand for organic substances continues to proliferate in the agrochemicals market.

Burgeoning Demand for Nitrogen-based Fertilizers to Uphold Fertilizer Additives Market Growth

Nitrogen is a key element which is required in a plethora of metabolic functions in plants. Being an essential component required in the production of amino acids, nitrogen-based fertilizers influence protein production in plants and aid in increasing the crop yield of the soil owing to which demand for such fertilizers is on the rise. The Fact.MR study suggests nitrogen-based fertilizers will continue gaining increasing penetration with their widespread adoption in the production of fruits, horticulture, fodder crops, and oilseeds. A recent instance that alludes to the growing popularity of nitrogen-based fertilizers was when it was reported that there was a shortage of nitrogen fertilizers in the US in August 2018.

The robust demand for nitrogen-based fertilizers can potentially open gateways to new opportunities for manufacturers with a focus on developing additives that could enhance the effective consumption of nitrogen in crops.

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Fertilizer Additives Market: Segmentation
Fact.MR has studied the fertilizer additives market with detailed segmentation on the basis of type, application, and key regions.

Type
• Anti-caking Agents
• Dust Suppressors
• Drying Agents
• Granulating Agents
• Others

Application
• Nitrogen
• Phosphorous Pentoxide
• Potassium Oxide
• Others

Fertilizer Additives Market Manufacturers: Key Strategies
The global fertilizer additives market is fairly consolidated in nature. Arkema S.A, ArrMaz, Chemipol S.A, Clariant AG, and Dorf Ketal are among the tier 1-players. According to Fact.MR estimates, together, these companies are projected to account for more than 30% of the global market share in 2020. Key manufacturers are observed to be involved in research & development, and collaborating with key fertilizer manufacturers to enhance their market share.

Key companies in the fertilizer additives market are involved in the organic market approach and are keenly looking to expand their product portfolios of fertilizer additives.

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