Pune, India, January 31, 2018
MRFR Press Release- Market Research Future published a half cooked research report on the global fertilizer additives market, which is estimated to grow at a CAGR of 2.9% during the forecast period, 2017-2023.
Fertilizer additives are supplemented with fertilizers in order to enhance its functionality. The increasing demand for agricultural products coupled with the high demand for essential nutrients and superior quality fertilizers has uplifted the demand for the fertilizer additives. These additives are used as an anti-foaming, anti-caking, de-dusting, and hydrophobic agents.
The global fertilizer additives market is growing due to increasing population coupled with increasing demand for food. In addition to the increasing population, growing demand for food, increase in the crop production, soil efficiency, and high-quality yield is expected to drive the fertilizer additives market. Additionally, increasing awareness regarding fertilizer additives has raised the bar for quality, which, in turn, has increased the market share of fertilizer additives globally. Mass market penetration is leading to the introduction of new products based out of fertilizer additives and their retail across various regions.
Moreover, increasing demand for agricultural additives for crop productivity is projected to drive the growth of the global fertilizer additives market. The market players are responding to these new opportunities by expanding their product lines, which has boosted the share of the fertilizer additives in the global market. The global fertilizer additives market is expected to grow at a CAGR of 2.9% during the forecast period, 2017-2023.
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The global fertilizer additives market is segmented into type, form, and function.
On the basis of the type, it is segmented into ammonium nitrate, ammonium sulfate, mono-ammonium phosphate, di-ammonium phosphate, triple superphosphate, urea, and others. Among all, the urea fertilizer additives segment is dominating the market.
On the basis of the form, it is segmented into powder, granular, prilled, and others. The powdered segment is dominating the market.
On the basis of the function, the fertilizer additives market is segmented into anti-foaming agent, anti-caking agents, corrosion inhibitors, hydrophobic agent, de-dusting agent, and others. Among all the functions, the anti-caking segment is dominating the market.
The major players in the fertilizer additives market
The global fertilizer additives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the fertilizer additives market followed by North America owing to rising population followed by increasing consumption of agricultural products in the developing regions. Moreover, agriculture is the key business in India, which is anticipated to drive the fertilizer additives market over the forecast period.
Furthermore, the U.S. dominates the North American fertilizer additives market owing to increasing consumer awareness and growing demand for fruits, vegetables, cereals, pulses, and other crops, which is anticipated to boost the growth of the fertilizer additives market during the review period.