Fertilizer Additive Market Size Estimated to Observe Significant Growth by 2027– Arkema Group,Solvay,Kao Corporation,Chemipol S.A.
The global fertilizer additive market is expected to reach US$ 3,963.0 Mn in 2027 from US$ 3,216.2 Mn in 2018. The market is estimated to grow with a CAGR of 2.4% from 2019-2027.
North America accounted for the second-largest share in the global fertilizer additive market. Rising demand for agricultural products in countries like the US, Canada, and Mexico in the North American region is projected to boost the fertilizer additives market during the forecast period. Additionally, the major key players are actively involved in the research & development in order to enhance the quality of fertilizer additives. The US is one of the major markets in North America.
Market Insights
Robust Growth Of Fertilizers Industry
The growth of the agriculture industry contributes significantly to the economy of any country. According to the International Fertilizer Association (IFA), in 2016, nitrogen consumption, phosphate consumption, and potassium consumption increased by 2.4%, 4.5%, and 2.5%, compared to that in 2015. According to the association, during 2006–2016, the average consumption rates were 1.4%, 1.2%, and 2.3% for nitrogen, phosphate, and potassium, respectively. The IFA estimates nitrogen fertilizer demand growth at 1.1% per year through 2021, while the growth rate of phosphate and potassium fertilizers would be 1.6% and 2.2% a year, respectively. The demand for urea is estimated to grow at a higher rate is as most new N-capacity additions are in the form of urea.
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Leading companies profiled in the report include Arkema Group,Solvay,Kao Corporation,Chemipol S.A.,Chemsol LLC,Clariant,Dorf Ketal,Michelman, Inc.,Omex Agriculture, Inc.,Novochem Group
Growth Potential in Emerging Countries
Agriculture is essential to emerging market economies. According to the data published in 2018 by International Finance Corporation, globally, two-thirds of the world’s poor population (~750 million people) work in rural areas. Governments in countries such as Brazil are offering subsidies to reduce the cost of fertilizers to farmers. Brazil is the world’s fifth-largest fertilizer consumer, generating ~30 percent of its requirements and importing the rest. Also, it is the world’s second-largest importer of both phosphate fertilizers and potash.
Global Fertilizer Additive – Market Segmentation
Global Fertilizer Additive Market – By Function
- Dust Control Agent
- AntiCaking Agent
- Anti-foam Agents
- Granulation Aids
- Corrosion Inhibitors
- Hydrophobing Agents
- Others
Global Fertilizer Additive Market – By Application
- Mono Ammonium Phosphate
- Triple Super Phosphate
- Urea
- Diammonium Phosphate (DAP)
- Ammonium Nitrate/CAN
- Other
Global Fertilizer Additive Market – By Form
- Granular
- Prilled
- Powdered
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Product and services Insights
The global fertilizer additive market by product type was led by freeze dried. In 2018, the segment held the largest market share in the global fertilizer additive. The segment is also expected to witness growth at a significant rate during the forecast period as the process maintains the physical structure of the food product and preserves it for rehydration, these products can be reconstituted quickly and easily by adding water
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