Fertilizer Additives Market Is Predicted To Reach $3.94 Billion By 2024: Grand View Research, Inc.
The global fertilizer additives market is projected to reach USD 3.94 billion by 2024,
according to a new report by Grand View Research, Inc. Growing fertilizer
industry and shrinking arable land are projected to drive the market over the
forecast period.
Additives are added to
fertilizers in order to inhibit the loss of key nutrients such as nitrogen
phosphorus, potassium, and sulfur, among others. The additives, which are
available in both, solid and liquid forms, are used during storage and
transportation of fertilizers.
Anti-caking was the most
popular function of additives in 2015. Caking of fertilizers is one of the
major problems faced by farmers, retailers and manufacturers, particularly
during rains. Change in storage temperatures also results in caking. Additives
are used to overcome these challenges.
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Report By Grand View Research: https://www.grandviewresearch.com/industry-analysis/fertilizer-additives-market
Further key
findings from the study suggest:
· Urea dominated the end
product segment in 2015 with a share of 55.6%. it is widely used globally,
since it contains the highest amount of nitrogen among all fertilizers. Factors
such as shrinking arable land have increased the importance of products such as
urea and ammonium nitrate, which help in cultivation in a short span of time,
in limited available land.
· Anti-caking dominated
the function segment in 2015. This segment is projected to grow at the highest
CAGR of 3.7 over the forecast period. Additives are used to avoid the formation
of lumps in fertilizers, enabling safe storage and transportation.
· Asia Pacific led the
global market with a share of 58.8% in 2015. This region is home to some of the
emerging countries such as China and India. The market in India, where,
agriculture is the primary occupation, is projected to drive the market from
2016 to 2024.
· The weather in this part
of the world gets hot and humid during summer, which can lead to caking and
loss of essential nutrients in fertilizers. Thus, additives are expected to
play an important role in maintaining the quality of fertilizers in this
region.
· Clariant, KAO
Corporation, Novochem Group, and ChemSol, LLC are some of the key manufacturers
of additives. Other players include Filtra Catalysts & Chemicals Ltd.,
Solvay, Arrmaz, Chemipol, Forbon Technology, Michelman, Tolsa Group, and Amit
Trading Ltd.
· The companies adopted
various development strategies such as new product developments, expansions,
mergers & acquisitions, and agreements, partnerships, & joint ventures
to establish themselves as market leaders and expand their global reach.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand
View Research has segmented the global fertilizer additives market on the basis
of application and region:
Fertilizer Additives Function Outlook
(Revenue, USD Million, 2013 - 2024)
- Corrosion Inhibitors
- Hydrophobic Agents
- Anti-dusting Agents
- Anti-caking Agents
- Others (Anti-foaming
Agents and Coating Agents)
Fertilizer Additives End Product
Outlook (Revenue, USD Million, 2013 - 2024)
- Urea
- Ammonium Nitrate
- Ammonium Phosphate
- Ammonium Sulfate
- Others (Monoammonium
Phosphate, Triple Super Phosphate)
Fertilizer Additives Regional Outlook
(Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Germany
- France
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Middle East & Africa (MEA)
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press release by Grand View Research : http://www.grandviewresearch.com/press-release/global-fertilizer-additives-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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