Rockville, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to the latest study by Fact.MR, a provider of market research and competitive intelligence, the global Fertilizer Additives Market is predicted to rise at 3.4% CAGR and reach a size of US$ 4.7 billion by the end of 2033. The market is set to be dominated by Asia Pacific throughout the forecast period owing to the presence of a strong agricultural sector in this region.
Growing world population and surging demand for agricultural commodities are extrapolated to be key factors promoting sales of fertilizer additives over the coming years. Rising awareness regarding the adverse effects of chemical fertilizers and the implementation of stringent mandates to ensure sustainability has pushed fertilizer additives companies to opt for natural and bio-based ingredients.
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This elaborate fertilizer additives market research study by skilled analysts at Fact.MR, a market research and competitive intelligence provider has mentioned new developments made by leading companies such as Arkema S.A., Chemipol S.A., and Clariant AG.
Key Takeaways from Market Study
- The global fertilizer additives market stands at a valuation of US$ 3.34 billion in 2023.
- Worldwide demand for fertilizer additives is projected to increase at a CAGR of 3.4% over the next ten years.
- By 2033-end, the market for fertilizer additives is set to attain a revenue of US$ 4.7 billion.
- Growing adoption of precision agriculture, increasing demand for agricultural commodities, rising focus on initiatives to solve food shortages, and expanding world population are key market drivers.
- High cost of raw materials and the adverse effect of chemical fertilizers on the environment are projected to be major restraints for market expansion.
- Fertilizer additive demand in the Asia Pacific region currently accounts for more than 50% of the global market share.
- Anti-caking fertilizer additives are projected to account for a dominant market share over the decade.
“Fertilizer additive manufacturing companies should shift their focus from agricultural economies to other countries to expand their business potential on a global scale,” says a Fact.MR analyst
Winning Strategy
Fertilizer additive manufacturers are investing in the research and development of new additives that are compliant with the evolving sustainability mandates. Companies can also focus on expanding their product portfolio by launching new products and reaching out to new audiences.
Leading producers of fertiliser additives are concentrating on diversifying their product offerings by introducing new items and implementing tactics that enable them to connect with new target markets.
- In April 2020, BASF, the largest chemical producer in the world, announced its entry into the protected urea space launch of a urease inhibitor named Limus Clear. The product was designed to be used with liquid fertilizer to minimize the loss of nitrogen and support crop development.
Key Companies Profiled
- Arkema S.A
- Fertibon Products Pvt. Ltd.
- ArrMaz
- Timac Agro USA
- Chemipol S.A
- Neelam Aqua & Speciality Chem (P) Ltd.
- Hubei Forbon Technology Co. Ltd.
- Clariant AG
- Michelman Inc.
- Dorf Ketal
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Where Should Fertilizer Additive Vendors Invest in the North American Region?
The fertilizer additives industry in the North American region remains largely unaffected by evolving consumer preferences. Nitrogen, urea, and phosphorus-based fertilizers continue to dominate the market in countries like Canada, Mexico, and the United States, allowing fertilizer additive companies to operate without significant alterations.
With a rising emphasis on maximizing agricultural output in Mexico and Canada to meet the growing demands of their populations, the sales of fertilizer additives are expected to see a boost in these countries. Additionally, the presence of major fertilizer manufacturers in the United States makes it a promising space for fertilizer additive companies in the future.
Key Segments of Fertilizer Additives Industry Research
- By Type:
- Anti-caking Agents
- Dust Suppressors
- Drying Agents
- Granulating Agents
- Others
- By Application:
- Nitrogen
- Phosphorous Pentoxide
- Potassium Oxide
- Others
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global fertilizer additives market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on type (anti-caking agents, dust suppressors, drying agents, granulating agents, others) and application (nitrogen, phosphorous pentoxide, potassium oxide, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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