The global fertilizer additives market is expected to exhibit a 2.68% CAGR from 2018 to 2022, according to a report on Radiant Insights, Inc. The market is primarily driven by high demand for fertilizers to enhance crop production. Fertilizer additives are elemental in preventing loss of nutrients such as nitrogen, phosphorus, and calcium. Boom in population, demand for food, agrarian economies such as China and India, and shrinkage of arable land are factors driving market growth from 2017 to 2022 (forecast period).
The report “Global Fertilizer Additives Market 2018-2022” is available now at https://www.radiantinsights.com/research/global-fertilizer-additives-market-2018-2022
Fertilizer additives play an instrumental role in increasing crop production amid deteriorating soil quality. Benefits attained from additives and global support from farming communities is anticipated to propel fertilizer additives market volume over the forecast period. Technological advances in farming coupled with rising fertilizer prices can further open new opportunities for innovation and development.
The worldwide fertilizer additives market is segmented by function, application, and region. By function, the market is divided into corrosion inhibitors, hydrophobic agents, anti-dusting agents, and anti-caking agents. Major applications include powdered, prilled, and granular forms.
Biologically derived or non-nutritional additives are being increasingly used to augment crop production. Consumer demand for organic food owing to changing perceptions and health-consciousness among millennials and their dietary habits can impel demand for natural stimulants. According to a study published in Taylor and Francis Online in 2017, Carbond P (CBP) and Avail phosphate fertilizer displayed a positive impact on soil of hydroponically-grown plants. The intake of phosphorus was instrumental in the growth of plants and improved soil quality.
The Americas market for fertilizer additives can experience steady development owing to strong agricultural growth in Mexico, Canada, and the U.S. Moreover, continuous efforts by major market players to enhancethe quality of fertilizer additives can augur product demand in near future.Prominent players have launched anti-dust additives to prevent dust accumulation on fertilizer bags. Fertala and Flotigam are the instances of additives by Clariant, a U.S. based company, for potash, nitrogen, and phosphate fertilizers.
Regions covered in the market report include Europe, Middle East & Africa (EMEA), Asia Pacific (APAC), and Americas. The APAC market is touted to experience immense growth over the forecast period owing to developments in the agriculture sector. Countries such as India, Bangladesh, and Sri Lanka played a large role in expansion of the market. Rise in fertilizer expenditure and supportive government initiatives are expected to positively affect market in the forthcoming years.
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The EMEA market can experience significant rise owing to maximum amount of cultivable land in France. Agricultural reforms aimed at encouraging crop production and initiatives in green growth and agroecology can fuel the market for fertilizer additives till the end of the forecast period. Beverage manufacturers in Turkey are investing in anaerobic digestion technology to create compost from ingredients and supply it to selective farmers. The growing geriatric population in Europe coupled with demand for food can spur market growth.
Saudi Arabia accounts for a major share of the Middle East fertilizer additives market due to a high production capacity. Infrastructural projects like Maaden’s Waad Al-Shamal city can ramp up production of diammonium phosphate fertilizers in the forthcoming years. Surplus of phosphorus reserves can present the market with ample opportunities to enter the APAC market.
Key market players include Solvay S.A.; Michelman, Inc.; Clariant; Chemipol S.A.; and ArrMaz Custom Chemicals, Inc.
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