The Global Fertilizer Additives market is forecast to reach USD 4.27 Billion by 2027, according to a new report by Reports and Data. The market is avouching a gush in demand for agricultural commodities and a surge in the application of R&D in fertilizer manufacturing technology to enhance and elevate the growth of fertilizer additives. Along with this, there is an increase in the necessity of primary nutrients and supreme quality of fertilizers, which are resulting in a surge in demand for improving agricultural yields.
With the rapid increase in lifestyle diseases, there is a major shift of focus and attention in the use of organic fertilizers. The Aftermath of using chemical fertilizers is another massive restrain that the market faces as the main components used are ammonia nitrogen and nitrate, which acts as the main pollutant in water bodies, and its major aftereffect is Eutrophication along with groundwater pollution.
Transformation in emerging markets, as well as growth in the market, are the opportunities, and the deleterious health effect due to agrochemicals on human health is the challenge that the market is currently facing. In addition, imposing rigid and stringent regulation is also a challenge.
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The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly adopting safe strategy and techniques which are supposed to result in the increase in the demand of fertilizers, preferably as the market starts stabilizing. The major effect is the constraints in logistics, as it is seen that the effects are both bullish and bearish. The effect of COVID-19 is variable, depending upon the participants of the market and the locations. According to the National Fertilizer Development Council in Pakistan, they have marked that the consumption of fertilizers will fall by almost 4pc in rabi 2019-20 (October-March) as a resultant of lockdown policy. While looking at the supply side, most of the Indian domestic producers of Urea have reopened their plants post lockdown. In logistics, many countries are loosening the import-export policies post lockdown to resume the recovery of a loss due to this pandemic. But as the exception exists, in Southeast Asia due to extension in the restrictions to prevent coronavirus outbreak, the demand for raw materials is increasing.
Key participants include:
Novochem Group, Tolsa Group, Filtra Catalyst & Chemicals, Clariant, Amit Trading Ltd, Armaz, Forbon Technology, Chemipol, Michelman, and KAO, among others.
Further key findings from the report suggest
- Urea is the chemical compound used as fertilizer, which has the maximum amount of nitrogen among all the other fertilizers available in the market. It has a wide application range and is harmless to crops and soil. The Russian Federation is the first country that produces maximum urea in the world. As of the year 2017, the production of urea in the Russian Federation was 8 million tonnes, which accounts for 18.72% of the world’s urea production.
- Anti-caking agents are used to preventing caking for packaging and transport, and example is Sodium Aluminosilicate. According to recent research, the demand for anti-caking agents is increased for over 50%of the fertilizer additives market share in the year 2018, as it is observed that using anti-caking agents reduces the risk of backflow passage of machines used for distributing fertilizers.
- North America dominated the market for Fertilizer Additives. In this region, the most popular fertilizers were Urea and Ammonium Nitrate.
- The Asia Pacific holds a share of more than 50% in the global fertilizer additives market in which India and China are the major consumers.
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For the purpose of this report, Reports and Data have segmented into the global Fertilizer Additives market on the basis of end-use type, additives type, form, and region:
End-Use Type Outlook (Revenue, USD Billion; 2017-2027)
- Mono Ammonium Phosphate
- Potassium Magnesium Sulphate
- Triple Super Phosphate
- Ammonium Nitrate
Additives Type Outlook (Revenue, USD Billion; 2017-2027)
- Dust control
- Anti-caking Agent
- Granulation Aids
Form Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- South Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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