The global fertilizer additives market is projected to reach USD 3.94 billion by 2024, according to a new report by Grand View Research, Inc. Growing fertilizer industry and shrinking arable land are projected to drive the market over the forecast period.
Additives are added to fertilizers in order to inhibit the loss of key nutrients such as nitrogen phosphorus, potassium, and sulfur, among others. The additives, which are available in both, solid and liquid forms, are used during storage and transportation of fertilizers.
Anti-caking was the most popular function of additives in 2015. Caking of fertilizers is one of the major problems faced by farmers, retailers and manufacturers, particularly during rains. Change in storage temperatures also results in caking. Additives are used to overcome these challenges.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/fertilizer-additives-market
Further key findings from the report suggest
·
Urea dominated the end product segment in 2015
with a share of 55.6%. it is widely used globally, since it contains the
highest amount of nitrogen among all fertilizers. Factors such as shrinking
arable land have increased the importance of products such as urea and ammonium
nitrate, which help in cultivation in a short span of time, in limited
available land.
·
Anti-caking dominated the function segment in
2015. This segment is projected to grow at the highest CAGR of 3.7 over the
forecast period. Additives are used to avoid the formation of lumps in
fertilizers, enabling safe storage and transportation.
·
Asia Pacific led the global market with a share
of 58.8% in 2015. This region is home to some of the emerging countries such as
China and India. The market in India, where, agriculture is the primary
occupation, is projected to drive the market from 2016 to 2024.
·
The weather in this part of the world gets hot
and humid during summer, which can lead to caking and loss of essential
nutrients in fertilizers. Thus, additives are expected to play an important
role in maintaining the quality of fertilizers in this region.
·
Clariant, KAO Corporation, Novochem Group, and
ChemSol, LLC are some of the key manufacturers of additives. Other players
include Filtra Catalysts & Chemicals Ltd., Solvay, Arrmaz, Chemipol, Forbon
Technology, Michelman, Tolsa Group, and Amit Trading Ltd.
·
The companies adopted various development
strategies such as new product developments, expansions, mergers &
acquisitions, and agreements, partnerships, & joint ventures to establish
themselves as market leaders and expand their global reach.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/agrochemicals-and-fertilizers
Grand View Research has segmented the global fertilizer additives market on the basis of application and region:
Fertilizer Additives Function Outlook (Revenue, USD Million, 2013 - 2024)
·
Corrosion Inhibitors
·
Hydrophobic Agents
·
Anti-dusting Agents
·
Anti-caking Agents
·
Others (Anti-foaming Agents and Coating Agents)
Fertilizer Additives End Product Outlook (Revenue, USD Million, 2013
- 2024)
·
Urea
·
Ammonium Nitrate
·
Ammonium Phosphate
·
Ammonium Sulfate
·
Others (Monoammonium Phosphate, Triple Super
Phosphate)
Fertilizer Additives Regional Outlook (Revenue, USD Million, 2013 -
2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
France
·
Asia Pacific
o
China
o
India
·
Latin America
o
Brazil
·
Middle East & Africa (MEA)
For press release of this report - http://www.grandviewresearch.com/press-release/global-fertilizer-additives-market
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