PUBLISHER: The Business Research Company | PRODUCT CODE: 1391221
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391221
“Fertilizer Additives Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fertilizer additives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fertilizer additives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The fertilizer additives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Fertilizer additives are a category of chemical substances or materials mixed with fertilizers like urea, ammonium nitrate, calcium ammonium nitrate, and others to enhance their quality and performance. They serve the dual purpose of improving fertilizer efficiency and preventing the loss of essential macro- and micronutrients, such as nitrogen, phosphorus, potassium, calcium, manganese, and iron, from the soil and the surrounding environment. Farmers widely employ these additives to promote the growth of healthy, nutrient-rich crops and to sustain soil fertility over the long term.
The primary types of fertilizer additives encompass dust control agents, anti-caking agents, anti-foam agents, granulation agents, colorants, corrosion inhibitors, and hydrophobing agents. Dust control agents are ecological substances used to solidify and stabilize soil, reducing or eliminating dust emissions caused by activities that contribute to erosion and generate airborne and fugitive dust. These additives, available in powdered, granular, and prilled forms, play a crucial role in the manufacturing processes of various fertilizers like urea, ammonium nitrate, diammonium nitrate, monoammonium nitrate, ammonium sulphate, triple superphosphate, and other applications.
The fertilizer additives market research report is one of a series of new reports from The Business Research Company that provides fertilizer additives market statistics, including fertilizer additives industry global market size, regional shares, competitors with a fertilizer additives market share, detailed fertilizer additives market segments, market trends and opportunities, and any further data you may need to thrive in the fertilizer additives industry. This fertilizer additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The fertilizer additives market size has grown strongly in recent years. It will grow from $3.09 billion in 2023 to $3.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The expansion observed during the historical period can be attributed to factors such as soil nutrient depletion, concerns related to agricultural productivity, adherence to environmental regulations, the adoption of crop-specific solutions, and the pursuit of enhanced fertilizer efficiency.
The fertilizer additives market size is expected to see strong growth in the next few years. It will grow to $4.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period can be attributed to the increasing adoption of precision agriculture practices, efforts to adapt to climate change, the rise of organic farming and organic additives, a shift towards bio-based and biodegradable additives, and the demand for customized nutrient blends. Prominent trends expected during the forecast period include the utilization of controlled-release fertilizers, the incorporation of nutrient stabilizers, the application of nano and micronutrient additives, the integration of data-driven farming techniques, and the widespread adoption of sustainable packaging in the fertilizer industry.
The surge in demand for agricultural commodities is a primary driver behind the growth of the fertilizer additives market. Agricultural commodities, encompassing staple crops and livestock raised on farms or plantations, utilize fertilizer additives in production activities to enhance performance and regulate fertilizer application. As per data from the Organization for Economic Co-operation and Development, global agricultural production is projected to increase from 766 million tons in 2020 to 839 million tons in 2030. This uptick in demand and production of agricultural commodities is expected to propel the fertilizer additives market during the forecast period.
Anticipated population growth is another factor driving the fertilizer additives market. Population growth, denoting an increase in the total number of people within a specific area, region, or country, has a significant impact on demographic expansion. Fertilizer additives contribute to addressing the needs of a growing population by improving agricultural productivity, promoting sustainability, mitigating the environmental impact of food production, and ensuring the supply of nutritious food. According to the United Nations' data in November 2022, the world's population is projected to increase by nearly 2 billion people over the next 30 years, reaching 9.7 billion by 2050 from the current 8 billion. Consequently, the rising population is expected to be a key driver for the growth of the fertilizer additives market.
The fertilizer additives market is witnessing a notable trend with the adoption of new technologies. Companies in this market are incorporating technologies such as ammonia technology, urea formaldehyde concentrate technology, and nanotechnology into their product development and manufacturing processes. This strategic move aims to reduce carbon footprints and transition towards environmentally friendly manufacturing practices. For instance, in May 2021, Stamicarbon introduced the Stami Green Ammonia Technology as a solution to the global carbon problem. This innovative technique utilizes renewable resources instead of fossil fuels, eliminating carbon from the process and paving the way for sustainable and green fertilizer production.
Major players in the fertilizer additive market are dedicating efforts to advancing their product offerings, particularly through the development of innovative fertilizer additives. These products often incorporate advanced bio-based compounds designed to enhance the natural nitrogen-holding capacity of the soil. The result is a significant reduction in nutrient runoff and improved nitrogen retention, contributing to sustainable agricultural practices. A case in point is the July 2021 launch of an innovative fertilizer additive by Innovar Ag LLC, a US-based agriculture technology company. This new addition to Innovar Ag's product line is designed to enhance the soil's ability to retain nitrogen, crucial for the healthy and sustained growth of plants.
In a strategic move in September 2021, Yara Suomi Oy, a Finland-based fertilizer manufacturer, acquired Ecolan Oy, a Finnish provider of fertilizer and additives, for an undisclosed amount. Through this acquisition, Yara Suomi Oy aims to enhance nutrient use efficiency in the organic farming segment by leveraging the extensive crop nutrition knowledge gained from Ecolan Oy. This strategic partnership positions Yara Suomi Oy to strengthen its capabilities in providing effective and sustainable solutions in the fertilizer additive market.
Major companies operating in the fertilizer additives market include KAO Corporation, Clariant AG, Filtra Catalysts & Chemicals Ltd., Novochem Group, Solvay SA, Agrium Inc., Bio Huma Netics Inc., Bunge Limited, Compass Minerals, Compo Expert GmbH, Fertilizer Industry Round Table, Haifa Group, Helena Agri-Enterprises, Israel Chemicals Ltd., Kali und Salz GmbH, Kingenta Ecological Engineering Group, Koch Industries Inc., Lamberti Group, Nufarm Ltd., Nutra-Flo Company, Nutrien Ltd., Plant Food Company Inc., Soil Technologies Corporation, Sociedad Quimica y Minera de Chile, Stoller Enterprises Ltd., The Andersons Inc., Timac Agro USA, Tradecorp International, UPL Limited, Valagro SpA, Verdesian Life Sciences LLC, Wilbur-Ellis Company, Yara International ASA
North America was the largest region in the fertilizer additives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fertilizer additives market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the fertilizer additives market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The fertilizer additives market consists of sales of drying agents that are used as fertilizer additives. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.