Global Fertilizer Additives Market - 2021-2028

Global Fertilizer Additives Market - 2021-2028

Market Overview

Fertilizer additives are compounds that improve fertilizer quality and consistency. It's also utilized to keep nutrients like phosphorus, sulfur, nitrogen, and potassium from leaching out of the soil and into the environment. Foaming, dampness, and caking are just a few of the issues they are designed to address. Producers can employ additives to increase the quality and integrity of their products while also reducing the damage that occurs during storage, transit, and application. Some key causes that contribute to the growing demand for fertilizer additives are shrinking arable land, adoption of new technologies in fertilizer production, and farmers' increasing willingness to spend more for increased productivity. The global fertilizer additives market is valued at USD XX million in 2020 and is forecasted to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).

Market Dynamics:

Use of fertilizer additives in various applications to drive the global fertilizer additives market

Fertilizer additives are added to various fertilizers to ensure that they are applied correctly to the field. The usage of fertilizer additions in farming also aids the producer in maintaining product quality. The use of fertilizer additives and fertilizers together improves and increases productivity. One of the primary factors driving the market's growth is the increased demand for urea-based fertilizers around the world. According to the International Fertilizers Associations (IFASTAT), total global Urea usage was 51,141.0 thousand metric tons in 2017, and 52,258.9 thousand metric tons in 2019. Urea is the solid fertilizer with the largest nitrogen content, and it is widely utilized as a primary source of nitrogen in agriculture. In addition, urea has a high relative humidity, allowing it to survive hot and humid conditions. Additionally, rising demand for agricultural commodities and R&D in fertilizer manufacturing technologies of application and handling is driving the market growth.

Market Segmentation: Anti-Caking segment is anticipated to expand at a CAGR of XX%

Anti-caking fertilizer additives are widely used to keep the surface area of the fertilizers generated as high as possible. Most fertilizers stored at specified temperatures absorb moisture and clump together. As a result, anti-caking chemicals are expected to grow in popularity in the fertilizer additives market. The anti-caking agent market is thought to be one of the most lucrative in the fertilizer additive industry. The expanding use of fertilizer additives in treating flakes created during storage during the rainy season is driving up demand for fertilizer additives. It also encourages the safe storage and transportation of fertilizers. It also encourages the safe storage and transportation of fertilizers.

Based on application, the urea segment is expected to grow with a CAGR of XX% during the forecast period. Urea is the solid fertilizer with the largest nitrogen content, and it is widely utilized as a primary source of nitrogen in agriculture. Nitrogen is one of the most critical limiting elements in high-yield crop development. As a result, nitrogen fertilizers are frequently employed to boost agricultural crop yield. However, the process of leaching, denitrification, and volatilization typically loses more than 50% of nitrogen, resulting in poor fertilizer efficiency. This nitrogen loss has an impact on crop yield as well as pollution in the environment. The use of fertilizer additives enhances the soil's retention of critical elements, including nitrogen, phosphorus, and potassium, consequently increasing agricultural crop yield. In addition, urea has high relative humidity, allowing it to survive hot and humid circumstances. As a result, it is preferred over ammonium nitrate and calcium ammonium nitrate (CAN) in the market, and it is in high demand due to its use in both solid and liquid forms.

Geographical Penetration: Asia Pacific is expected to be the fastest growing region during the forecast period

The Asia Pacific region accounts for more than half of the worldwide fertilizer additives industry. Because of their huge agricultural zones, China and India are important consumers of this crop. India's principal occupation is agriculture, which will likely boost the fertilizer additive industry in the near future. More than half of the worldwide fertilizer additives market is held by the Asia Pacific. Because of their huge agricultural zones, China and India are important consumers of this crop. With investments from big market participants, Asia-Pacific is a dormant region.

Furthermore, increased agricultural product demand in North American countries such as the United States, Canada, and Mexico is expected to boost the fertilizer additives market during the forecast period. The United States is the second-largest producer of phosphate and the fourth-largest producer of nitrogen fertilizers in the world. The product market in North America remains largely unaffected by changing consumer attitudes, in spite increase in preference for more natural ingredients. This is mostly due to a rise in the use of natural fertilizer additions in place of synthetic nitrogen fertilizer.

Competitive Landscape:

The global fertilizer additives market is fragmented. The global fertilizer additives market is a competitive market and comprises numerous regional and international competitors. Furthermore, while engaging the consumers with innovation and expansion strategies, key players are capitalizing on the market revenue. There are many small and medium-sized businesses in the fertilizer additive sector, as well as a few big firms, resulting in fierce competition. Some of the well-known players in the market are Corteva Agriscience, BASF SE, Novochem Group, and Dorf Ketal among others. In January 2021, Phospholutions, a Pennsylvania based startup raised USD 10.3 million funding in series A round by the VC investors. Phospholutions offers fertilizer additive product called 'RhizoSorb', which can be applied with phosphate, or is added to phosphate fertilizers during the manufacturing process.

COVID-19 Impact: Fertilizer additives market was resilient to the pandemic

Due to the outbreak of COVID-19 in 2020, most markets saw weak demand and production, stifling worldwide market growth. Despite these problems, fertiliser and agrochemicals have helped the fertiliser additives market stay afloat. The fertiliser additives market grew moderately in 2020, owing to various advantages of agricultural growth, and is expected to continue to dominate the market in the near future.

Why Purchase the Report?
Understand the current market scenario and viability of global fertilizer additives over the forecast period
Visualize the composition of the global fertilizer additives market in terms of form, function and application to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global fertilizer additives market – Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global fertilizer additives market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages

Target Audience:
Agrochemical Companies
Farming Communities
Industry Investors
Education & Research Institutes
Research Professionals