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Demand For Fertilizer Additives Has Drastically Risen Owing To Increased Utilization Of Fertilizers
Global Fertilizer Additives Market Report InsightsThe 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.
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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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Fertilizer Additives Market Product Type Insights
Anti-caking fertilizer additives are extensively utilized for maintaining the surface area of the fertilizers produced. Most fertilizers being stored in controlled temperatures catch moisture and coagulate forming clumps. Therefore, utilization of anti-caking additives is set to thrive in the fertilizer additives market.
Silicon dioxide, iron ammonium citrate, and yellow prussiate of soda are the potent anti-caking agents used in fertilizer additives. Demand for anti-caking agents has been fluctuating since the past half-decade, owing to their negative affects on crops and end-use consumers.
By the mid-term forecast period, cheaper natural substitutes are expected to penetrate the market, closing the doors for conventionally used fertilizer additives
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Fertilizer Additives Market Application Insights
Demand for fertilizer additives has drastically risen over the past half-decade, owing to increased utilization of fertilizers to ensure the quality of the product. Majority of fertilizer additive applications lie in pre-packaging in the industry to ensure the quality of the product. Fertilizer additives reduce the cost of inventory owing to their function of anti-caking and drying. Different fertilizer additives are added for different purposes in various atmosphere ranges. For instance, for fertilizers manufactured in humid regions, the tendency is to utilize anti-caking and drying agents.
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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
Region
North America
Latin America
Eastern Europe
Western Europe
Asia Pacific Excluding Japan
Japan
Middle East & Africa
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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