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Fertilizer Additives Market worth 2.91 Billion USD by 2021
The report "Fertilizer Additives Market by Function (Anticaking, Dedusting, Antifoaming, Hydrophobic, and corrosion Inhibitor), Application (Urea, Ammonium Nitrate, DAP, MAP, Ammonium Sulphate, and TSP), Form of Application, and Region - Global Forecast to 2021", The fertilizer additives market is projected to grow at a CAGR of 2.6%, to reach a projected value of USD 2.91 Billion by 2021.
Browse 105 market data Tables and 48 Figures spread through 146 Pages and in-depth TOC on "Fertilizer Additives Market by Function (Anticaking, Dedusting, Antifoaming, Hydrophobic, and corrosion Inhibitor), Application (Urea, Ammonium Nitrate, DAP, MAP, Ammonium Sulphate, and TSP), Form of Application, and Region - Global Forecast to 2021"
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Fertilizer additives are the substances that improve or enhance the quality and integrity of fertilizers. These are specially engineered and developed to encounter problems such as foaming, dedusting, moisture, and caking among others. The demand of fertilizer additives is entirely dependent on the growth of the fertilizer industry. Furthermore, the shrinking arable land, adoption of new technologies in fertilizer production, and the increasing willingness of farmers to spend more for higher productivity are some important factors that contribute to the increasing demand for fertilizer additives.
Anticaking segment to dominate the fertilizer additives market
Caking is a problem that occurs during the processing, storage, and transportation of fertilizers. Since fertilizers are hygroscopic, salt bridge forms in the process of evaporation and recrystallization. Caked fertilizers are difficult to use and can cause spreading problems. This can lead to a reduction in yield and crop quality. Since most fertilizers are sold in granular, prilled, and powdered form, the anticaking segment of the fertilizer additives market accounted for the largest market share in the global market in 2015.
Urea segment accounted for the largest share in 2015
Worldwide, urea is one of the most widely used dry granular sources of nitrogen. It is preferred by the fertilizer manufacturing industry since it is relatively easy to manufacture. Urea usually has the lowest cost per pound of nitrogen compared to other single-element nitrogen fertilizers. However, urea undergoes unique chemical transformations when stored or transported, and severe losses in quality may result if proper additives are not used while manufacturing the fertilizer. Hence, fertilizer additives are used on a large scale for the manufacturing of Urea.
Increase in the usage of fertilizers and increase in farm expenditure: Key to success in the Asia-Pacific and Latin American regions
China and Brazil constituted the largest country-level markets in the Asia-Pacific and Latin American regions, respectively, in 2015. Government initiatives such as subsidies and incentive schemes, increase in awareness regarding the benefits of fertilizers, and increase in farm expenditure have led to the use of additives on a large scale in the manufacturing of fertilizers. Asia-Pacific dominated the market and accounted for the largest market share globally in 2015.
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