Fertilizer Additives Market is Expected to Worth $4.7 Billion Globally by 2030 at a CAGR of 4.1%, According to Allied Market Research
Rising demand for agricultural products and ongoing R&D activities in fertilizer manufacturing technology are driving the growth of the global fertilizer additives market.
PORTLAND, Oregon., April 5, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, “Fertilizer Additives Market by Form (Pullets, Granules, and Powder), Type (Anti-Caking Agents, Defoaming Agents, Dust Control Coatings, Colorants, Granulation Aids, Corrosion Inhibitors, Hydrophobic Additive and Others) Application (Urea, Diammonium Phosphate, Ammonium Nitrate, Triple Superphosphate, Monoammonium Phosphate and Others): Global Opportunities Analysis and Industry Forecast, 2021-2030.” According to the report, the global fertilizer additives industry generated $3.2 billion in 2020, and should reach $4.7 billion by 2030, with a CAGR of 4.1% from 2021 to 2030.
Drivers, constraints and opportunities
Rising demand for agricultural products, ongoing R&D activities in fertilizer manufacturing technology, and advancements in fertilizer manufacturing methods including time-release encapsulation are driving the growth of the global market fertilizer additives. However, the adoption of organic farming practices is hampering the growth of the market. On the other hand, implementing nutrient management methods that efficiently optimize on-farm nutrient use and maintain soil health for successful crop production present new opportunities in the years to come.
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- According to the report published by the Organization for Economic Co-operation and Development (OECD), there has been a decline in consumer demand for fertilizer additives, which has put downward pressure on production and price.
- Due to lockdown restrictions, various companies have closed or reduced operations at manufacturing facilities. This reduced production activities and disrupted the fertilizer additive supply chain.
- Falling incomes for small farmers have led to a drop in demand for fertilizers and other crop protection products. However, it is estimated that demand will steadily increase during the post-Covid era.
- Several fertilizer additive manufacturing companies have implemented safety strategies and techniques. This has led to an increase in demand for fertilizer additives as the market begins to stabilize.
The pellet segment to maintain its leading position by 2030
Based on form, the granular segment accounted for the highest share in 2020, holding more than two-thirds of the global fertilizer additives market, and is expected to maintain its leading position by 2030. Additionally, this segment is expected to manifesting the largest CAGR of 4.3% from 2021 to 2030. This is attributed to helping farmers to assess the quality of fertilizer and protecting the external environment to improve the shelf life. The report also analyzes segments including pearls and powders.
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The anti-caking segment to present lucrative opportunities
Based on type, the anti-caking agent segment contributed the highest market share in 2020, accounting for almost one-third of the global fertilizer additives market, and is expected to maintain its revenue dominance while throughout the forecast period. Additionally, this segment is expected to show the fastest CAGR of 4.6% from 2021 to 2030. This is attributed to preventing lumps and clumping during storage of fertilizer additives and ensuring the quality. The research also addresses segments such as anti-foaming agents, anti-dust coatings, colorants, granulation aids, corrosion inhibitors, hydrophobic additives and others.
LAMEA, followed by North Americato record the fastest growth rate
Based on region, LAMEA, followed by North America, is expected to register the fastest CAGR of 4.5% during the forecast period. Moreover, this segment contributed the highest market share in terms of revenue in 2020, accounting for nearly three-fifths of the global fertilizer additives market, and is expected to maintain its leading position by 2030. This is due to the growth of agricultural industries. , increasing investment in the agricultural sector, using modern technology in agriculture and discovering new applications of fertilizer additives. The report also analyzes the regions including Asia Pacific and Europe.
Main market players
- ArrMaz Products Inc.
- CHEMIPOL, S.A.
- Clariant AG
- KAO Company
- Michelman Inc.
- Novochem Group
- Tolsa S.A.
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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
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