Global Fertilizer Additives Industry| Market Research Report | Forecast 2023
The market is expected to offer lucrative opportunities over the forecast period owing to wide applications of fertilizer additives. Furthermore, growing demand for agro commodities coupled with an increase in demand for high yield crops, growing adoption of technological advancements are expected to propel the growth of fertilizers additives market. Moreover, increase in the expenditure of farmers in the protection of farms, growing pool of the population, rapid increase in global economies, rise in government support are the other factors which are boosting the market growth of fertilizer additives. However, hazardous environmental factors, strict regulatory framework, the growth of organic fertilizer industry are expected to hamper the growth of the fertilizer additives market.
Fertilizers are synthetic or natural substances which are applied to crops in order to supply the vital nutrients to plants for healthy growth. Fertilizer additives are added to fertilizers in order to improve the quality and stability of fertilizers. Fertilizers have many roles such as retaining of nutrients in the soil, prevents corrosion of any containers, they act as anti-foaming and anti-caking agents.
The Fertilizer Additives Market is classified on the basis of function, application, form and geographical regions.
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Based on function, Global Fertilizer Additives Market is segmented as:
- Dedusting
- Anticaking
- Antifoaming
- Corrosion Inhibitors
- Hydrophobic Agents
- Others
Based on application, Global Fertilizer Additives Market is segmented as:
- Ammonium Nitrate
- Urea
- Diammonium Phosphate
- Ammonium Sulphate
- Monoammonium Phosphate
- Triple Superphosphate
- Others
Based on form, This Market is segmented as:
- Granules
- Prills
- Powder
- Others
Fertilizer additives market is expanding at a significant growth rate during the forecast period. As nitrogen is the most vital nutrient for growth of plants, all the fertilizers additives are rich in nitrogen and enhances the nitrogen release from fertilizers. Companies in the fertilizer additives market are mainly concentrating on nitrogen-based fertilizer additives. Various market players in fertilizer additives are focused on the new product developments, mergers and acquisitions, partnerships and collaborations and geographical expansions in order to improve the product portfolio and strengthen the presence in the global market of fertilizer additives market.
Geographically Fertilizer Additives Market is segmented as Latin America, North America, Asia Pacific, The Middle East & Africa and Europe. Asia Pacific is expected to dominate market for fertilizer additives owing to growing awareness about the fertilizers usage, rise in farming expenditure, rise in initiatives and support by the government such as incentive schemes and subsidies. North America fertilizer additives market is accounted the second largest position in global fertilizer additives market owing to the increase in population, technological advancements, increase in the adaptation of agriculture.
Some of the players in Fertilizer Additives Market KAO Corporation (Japan), Clariant (Switzerland), Novochem Group (Netherlands), ArrMaz (U.S.), Amit Trading LTD. (Israel), Filtra Catalysts & Chemicals Ltd. (India), Forbon Technology (China) and Chemipol (Spain).
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