The global fertilizer additives market witnesses numerous opportunities, owing to rapid increase in development of agriculture industry in Asia-Pacific and LAMEA. In addition, increase in R&D in fertilizer manufacturing technology drives the market. The surplus and deficit imbalances in various regions for several fertilizers is another factor that augments the market growth. Further, higher crop yield, ease of application, management of fertilizers, and rise in in-transport and storage of fertilizers across regions also boost the market growth. However, environmental impact of chemical fertilizers and stringent government regulations on these chemicals majorly in Europe limits the market growth.
The fertilizer additives market was valued at $3.2 Billion in 2020, and is projected to reach $4.7 Billion by 2030, growing at a CAGR of 4.1% from 2021 to 2030. The urea application segment accounted for maximum share of total market in 2020.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The fertilizer additives market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the fertilizer additives market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the fertilizer additives market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
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Fertilizer additives are deployed among field as they act as corrosion inhibitors, hydrophobic agents, anti-dusting agents during storage and transportation. Fertilizer additives such as granulating aids are often deployed to improve crushing strength and reducing fines in fertilizer. Granulation is a physical phenomenon, which happens when particles agglomerate together due to repeated tumbling action. Moreover, granulation has a very beneficial effect on plant growth, by slow and controlled release of nutrients, by inhibiting the run-off of fertilizer salts, and by making NPK application uniform. However, detoriating storage conditions and long storage often results in clot and lumps formation. This results in washing away of powdery fertilizer, which prohibits the further application of fertilizer on crops.
The urea application accounted for the maximum share, in terms of volume, in 2016. Moreover, this segment witnesses strong demand in countries such as China and Japan owing to its wide availability as dry granular sources of nitrogen. It is preferred by the fertilizer manufacturing industry since it is relatively easy to manufacture. However, urea undergoes chemical transformations when transported, and may lead to quality loss if related additives are not used while manufacturing this fertilizer. Hence, fertilizer additives are deployed on large scale during the production of urea.
The major companies profiled in the report include Clariant, KAO Corporation, Amit Trading Ltd., Novochem Group, Filtra Catalysts & Chemicals Ltd., Arrmaz, Chemipol, Forbon Technology, Michelman, and Tolsa Group.
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