Global Fertilizer Additives Market to be Augmented by Increase in Population and Shrinking Arable Land by 2027
The global fertilizer additives market is segmented by type, by function type and by form type. Based on type, the market is segmented into urea, ammonium nitrate, ammonium phosphate, ammonium sulfate and others. By function type, the market is sub-segmented into anti-caking, anti-dusting, corrosion inhibitors, hydrophobic agents and others. By form type, the market is categorized into granules, powder, and prilled.
The global fertilizer additives market is anticipated to record a CAGR of 3% over the forecast period i.e. 2019-2027 owing to increasing population and shrinking arable land. The overall expansion in the fertilizer and cultivation industry in order to compensate the increasing food grain demand is expected to increase the market growth. The urea segment is anticipated to have around 57% of the market share on the back of its low cost, ease of synthesis and higher availability followed by ammonium nitrate segment which is expected to record a CAGR of around 5% during the forecast period. The anti-caking additives market segment is expected to have more than 30% of the market share on the account of increase in fertilizer demand and fertilizer price followed by anti-dusting segment which is expected to have market share of around 27% on the back of improving transportation and storage facilities.
Asia-Pacific is anticipated to witness maximum market share during the forecast period owing to presence of agro-based economies coupled with highly populated counties, for instance India. The latest innovations and rapid growth in agriculture sector in China is anticipated to drive the market growth in the region. North America is expected to witness a CAGR of around 3.5% on the back of increasing awareness related to nutrient management planning and small-town agricultural backing.
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The overall expansion in agricultural sector as a result of population explosion and reducing cultivable land is expected to drive the market growth. Additionally, the advancement in the transportation and storage industry coupled with development in agricultural sector are anticipated to boost the market growth. However, high cost associated with additives and chemical transformation property of some additives are likely to restraint the growth of global fertilizer additives market over the forecast period.
The report titled “Global Fertilizer Additives Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global fertilizer additives market in terms of market segmentation by product, by function, by form and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global fertilizer additives market which includes company profiling of Novochem Group, Clariant AG, Solvay S.A., KAO Corporation, Filtra Catalyst and Chemicals Ltd., ChemSol LLC, Hubei Forbon Technology Co. Ltd. and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fertilizer additives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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