Flowability and packaging benefits provided to the fertilizer will heighten the demand of fertilizer additives.
NEW YORK, NY / ACCESSWIRE / May 3, 2021 / Fact.MR: As per the study by Fact MR the global fertilizer additives market is forecast to grow at 4.4% CAGR by the end of 2030. According to the study, fertilizer industry has grown twice of its initial state in just half decade. The booming fertilizer industry provided impetus to rapid fertilizer additives market growth. Initially moisture control properties of anti-caking fertilizer additives led to increased market demand. However, with gradual penetration of natural additive substitutes along with the negative effects of anti-caking fertilizer additives on crops will lead to downfall of the anti-caking additives. The granulation additives and drying agents will be assisting in fertilizer additives market growth.
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COVID-19 outbreak deeply affected the fertilizer additives market. The pandemic disrupted the supply chains and shut down the business. Reduced demand and slow production due to lockdown led to sluggish sales. Closure of manufacturing plants and reduced fertilization applications halted market sales. With lifting of lockdown, the market is expected to recover at a very slow rate..
"Low manufacturing cost of fertilizer additives will provide lucrative opportunities to new market players playing a huge part in normalization of prices", said a lead analyst at Fact.MR
- The global fertilizer additives market is estimated to surpass valuation of US$ 500 Mn over the forecast duration 2020-2030.
- Asia Pacific will encompass 38% of global market in terms of valuation by the end of forecast period.
- Extensive employment of anti-caking agents will increase the market growth with over 2% expected gain.
- Steady growth will be observed in granulating agent additives market segment with slight retardation in sales of drying agent additives.
- Europe is expected to engulf a quarter of global market share by the end of forecast period.
- Rising necessity of high quality crops led to increase in demand of agricultural commodities including fertilizer industry. Boost in fertilizer industry will amplify the fertilizer additives market growth.
- Technological innovation in fertilizer manufacturing industries will promote the market growth.
- Hassle free handling and simple method of application positively affect the thegrowth of fertilizer additives market.
- Gradual transition of customers towards organic and natural alternatives is one of the factor that restricts the market growth
- Awareness related to adverse effect on environment due to prolonged use of chemical additives hampers market demand.
- Strict regulation policies by government towards chemical fertilizer additives will negatively affect the fertilizer additives market.
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Fact .MR's report has profiled some of the key players operating in the market. These include Arkema S.A, Fertibon Products Pvt. Ltd., ArrMaz, Michelman, Inc., Neelam Aqua & Speciality Chem (P) Ltd., Chemipol S.A, Clariant AG, Timac Agro USA, Hubei Forbon Technology Co Ltd, and Dorf Ketal. Out of these key players, Arkema S.A, ArrMaz, Chemipol S.A, Clariant AG, Dorf Ketal is forecast to comprise 30% of global market shares. Leading manufacturers are switching towards organic products in order to diversify their product range, along with strategic collaboration regarding development in the field of fertilizer manufacturing processes and material additives. The consolidation of market is due to rising number of new player in the market. The consolidation helps in normalization of additive prices.
More Valuable Insights on fertilizer additives market
Fact.MR, in its new report, offers an unbiased analysis of the global fertilizer additives market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the fertilizer additives market on the basis of Product type (Anti-caking, dust suppressors, drying agents, granulating agents), application (Nitrogen, phosphorus pentoxide, potassium oxide) across regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, MEA).
Key Questions Covered in the Report
- Which factor will be the most crucial for fertilizer additives market?
- What is likely to be the future outlook of fertilizer additives market?
- What are the key drivers and restraints for the fertilizer additives market?
- Which region has the highest growth rate in fertilizer additives market?
- Which are the leading players operating in the fertilizer additives market?
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