Press release
Fertilizer Additives Market Surges, Set to Hit $4.2 Billion by 2028 Amid Global Agricultural Boom
Year End Offer By The Business Research Company - Get 33% Discount On Opportunities And Strategies ReportsExhibiting robust growth, the fertilizer additives market is poised to increase from $3.09 billion in 2023 to an estimated $3.28 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 6.2%. With a promising trajectory, the market is projected to witness strong expansion, reaching $4.2 billion by 2028 at a CAGR of 6.4%.
Key Growth Drivers:
Growing Agricultural Commodity Demand:
The surge in demand for agricultural commodities is propelling the fertilizer additives market forward. These additives play a crucial role in enhancing fertilizer performance and controlling its application in agricultural commodity production activities. With global agricultural production expected to rise significantly, fertilizer additives are integral to meeting the demand for improved agricultural productivity.
Rising Global Population:
Driven by the increasing global population, the fertilizer additives market is set for substantial growth. As the world population approaches 9.7 billion by 2050, fertilizer additives play a vital role in improving agricultural sustainability, productivity, and mitigating the environmental impact of food production. These additives contribute to providing nutritious food for a growing population.
Explore the Global Fertilizer Additives Market with a Detailed Sample Report:
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Major Players:
Leading companies influencing the fertilizer additives market include KAO Corporation, Clariant AG, Filtra Catalysts & Chemicals Ltd., Novochem Group, Solvay SA, and others. These industry players contribute significantly to the market's development.
Adoption of Sustainable Technologies:
A key trend in the market is the adoption of sustainable technologies by fertilizer additive companies. Utilizing ammonia technology, urea formaldehyde concentrate technology, and nanotechnology in product development and manufacturing processes, companies aim to reduce their carbon footprint and shift towards environmentally friendly practices. Stamicarbon's introduction of Stami Green Ammonia Technology exemplifies this commitment to sustainable and green fertilizer production.
Innovative Products for Sustainable Agriculture:
Companies are focusing on developing innovative products, such as advanced fertilizer additives, to sustain their position in the market. These additives, incorporating advanced bio-based compounds, enhance soil's natural nitrogen-holding capacity, reducing nutrient runoff and ensuring optimal nitrogen retention for sustainable agriculture. Innovar Ag LLC's launch of an innovative fertilizer additive demonstrates a commitment to soil health and sustainable farming practices.
Regional Insights:
North America led the fertilizer additives market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period. Comprehensive coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The fertilizer additives market covered in this report is segmented -
1) By Type: Dust Control Agent, Anti-Caking Agent, Anti-foam Agents, Granulation Aids, Colorants, Corrosion Inhibitors, Hydrophobing Agents
2) By Form: Granular, Prilled, Powdered
3) By Application: Urea, Ammonium nitrate, Diammonium phosphate, Monoammonium phosphate, Ammonium sulfate, Triple superphosphate, Other Applications
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Fertilizer Additives Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Fertilizer Additives Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on fertilizer additives market size, fertilizer additives market drivers and trends, fertilizer additives market major players, competitors' revenues, fertilizer additives market positioning, and fertilizer additives market growth across geographies. The fertilizer additives market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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