According to a recent analysis by FMI, the fertilizer additives market would grow at a 4.6% CAGR between 2022 and 2032. At the conclusion of the evaluation period, a market worth of US$ 1,685.96 Million is anticipated. Due to the global expansion of the agriculture industry, fertilizer additives are becoming increasingly popular. Additionally, the anti-caking abilities of fertilizer additives make them crucial.
From 2017 to 2021, the industry experienced noteworthy growth, registering a value CAGR of 4% and closing at US$ 1,028.01 Million. Technological advancement in the agriculture sector is contributing to the growth of fertilizer additives. In addition, government authorities of various countries are launching initiatives that help the agriculture industry to grow. This, in turn, is increasing the use of fertilizer additives.
Potash and phosphate-based fertilizers work well for yield enhancement. They not only ensure growth of crops but also provide nutrition. This, in turn, is accelerating the growth of fertilizer additives in the agriculture industry. Therefore, with government initiatives and expansion of agriculture sector the fertilizer additive market is expected to surge in the assessment period 2022-2032.
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Key Takeaways from the Market Study
- S. fertilizer additives market is anticipated to witness for 2.6%year-on-year growth and is expected to reach a value of US$ 315.3 Million by the end of 2032.
- France is expected to hold a market share of 45% for additive fertilizers market in 2032.
- India is expected to grow at a CAGR of 5%between 2022 and 2032 for fertilizer additives market.
- By product type, Anti-caking agent segment is expected to possess 35% market share for fertilizer additives market in the forecast period 2022-2032.
“Growing use of fertilizer additives for crop production along with using them as anticaking agents is driving the growth of the same.” states an FMI analyst.
Market Competition
Key players in the fertilizers additive market are Clariant AG, Arkema S.A, Dorf Ketal, ArrMaz, Timac Agro USA, Michelman, inc., Hubei Forbon Technology Co Ltd, Fertibon Products Pvt Ltd, Chemipol SA, Neelam Aqua & Speciality Chem (P) Ltd
- Chemipol SA, a key start-up player in the fertilizer additive market is focusing on developing fertilizer additives that help farmers to yield better crop protection. The company has undertaken research and is developing region and soil specific fertilizer additives.
- Timac Agro USA, is focusing on not only offering fertilizer additives but also technology that will help in using fertilizer for better results. Thus, through the amalgamation of technology and agricultural needs, the company is developing fertilizer additives.
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More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global fertilizer additives market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Product Type (Anti-caking Agents, Dust Suppressors, Drying Agents, Granulation Agents, Others), by Application (N (Nitrogen), P2O5, K2O, Others), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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