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NEW YORK, March 3, 2023 /PRNewswire/ — Major players in the fertilizer additives market are KAO Corporation, Novochem Group, Clariant, Solvay, Filtra Catalysts & Chemicals Ltd., ArrMaz, Chemipol, Forbon Technology, Michelman, Inc., Tolsa Group, Dorf Ketal, Corteva Agriscience, BASF SE, Holland Novochem BV, and Hubei Forbon Technology Co., Ltd.
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The global fertilizer additives market grew from $2.87 billion in 2022 to $2.99 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia–Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The fertilizer additives market is expected to grow to $3.47 billion in 2027 at a CAGR of 3.9%.
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 fertilizer additives are a type of chemical additives or materials that are mixed with fertilizers such as urea, ammonium nitrate, calcium ammonium nitrate, and others to improve the quality and performance of fertilizers.It is also used to prevent the loss of important macro and micronutrients including nitrogen, phosphorus, potassium, calcium, manganese, and iron from soil as well as environment.
Farmers widely use it to develop healthy, nutrient-dense crops and ensure soil fertility for the long run.
North America was the largest region in the fertilizer additives market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the fertilizer additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of fertilizer additives include dust control agents, anti-caking agents, anti-foam agents, granulation agents, colorants, corrosion Inhibitors, and hydrophobing agents.The dust control refers to an ecological agent that is used to solidify and stabilize any soil.
This system is implemented to reduce or eliminate dust emissions from activities that cause erosion by generating airborne and fugitive dust. Based on form they are differentiated into powdered, granular and prilled and they are used in manufacturing of urea, ammonium nitrate, diammonium nitrate, monoammonium nitrate, ammonium sulphate, triple superphosphate, and other applications.
Rising demand for agricultural commodities is driving the growth of the fertilizer additives market.Agricultural commodities are staple crops and animals raised on farms or plantations.
In agricultural commodities production activities, fertilizer additives are used to enhance the performance and controlled application of fertilizer.For instance, according to the data published in Organization for Economic Co-operation and Development, the global agricultural production is expected to increase from 766 million tons in 2020 to 839 million tons in 2030.
The increase in demand and production of agricultural commodities is expected to boost demand for fertilizer additives during forecast period.
The adoption of new technologies is a key trend gaining popularity in the fertilizer additives market.The companies operating in the fertilizer additives market are utilizing ammonia technology, urea formaldehyde concentrate technology, and nanotechnology in their product development and manufacturing process to reduce their carbon footprint and shift towards environmental-friendly manufacturing process.
For instance, in May 2021, Stamicarbon has announced the introduction of Stami Green Ammonia Technology as a solution to the world carbon problem. To eliminate carbon from the process, the technique uses renewable resources rather of fossil fuels, paving the door for sustainable and green fertilizer production.
In September 2021, Yara Suomi Oy, a Finland-based manufacturer of fertilizer acquired Ecolan Oy, a Finalnd-based provider of fertilizer and its additives for an undisclosed amount. Through this acquisition Yara Suomi Oy will be able to improve nutrient use efficiency in organic farming segment by capitalizing on our deep crop nutrition knowledge from Ecolan Oy.
The countries covered in the fertilizer additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The fertilizer additives market research report is one of a series of new reports 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.
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