Global Fertilizer Additives Market is projected to experience significant growth of 4.5% during the next decade owing to technological advancements, changing consumer preferences, yield improvement, and dwindling arable land -According to a ChemView Consulting Analyst
According to ChemView Consulting, the global Fertilizer Additives market is expected to reach US$ 1,549.4 Mn in 2030, with a steady long-term forecast. The Fertilizer Additives market has grown by 3-4% over the last five years. According to the research, the global Fertilizer Additives market is expected to increase by roughly 4.5% between 2022 and 2030. The study delves into 20+ high-growing areas, offering specific insights into how Fertilizer Additives growth may change over the coming decade.
Global Fertilizer Additives Market 2022-2030: Report Key Highlights
- CAGR of the market during the forecast period 2022-2030
- Detailed information on factors that will assist Fertilizer Additives market growth during the next ten years
- Assessment of the historical and current Fertilizer Additives market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the Fertilizer Additives market across North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa
- Strategic intelligence of the market's competitive landscape and detailed information on vendors
- Key success factors and recommendations to drive the stakeholder's growth in the Fertilizer Additives market and gain competitive advantage
- Primary insights to understand what will shape the market growth over the next decade
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Key Takeaways, By Product Type: In 2022, the anti-caking category led the fertilizer additives market, and it is projected to continue to do so in the foreseeable future. This is owing to the increased need for NPK, DAP, and Urea-based fertilizers to combat the escalating problem of fertilizer caking. The anti-caking sector is predicted to keep 53.1% market share in 2022 and increase 11 BPS between 2022 and 2030 in terms of value.
Key Takeaways, By Application: In 2022, the nitrogen sector will dominate the application type since it is easily available and easy to apply, making it the most frequent form of fertilizer. To provide optimal nutrition to food crops and hence increase output, the need for nitrogenous fertilizers has been increasing in the agriculture business. By the end of 2030, the Nitrogen sector is estimated to be worth US$ 688.5 million.
Key Takeaways, By Region: Asia Pacific market is expected to grow at the highest CAGR of 6.3% in terms of value between 2022 and 2030. Due to the developing fertilizer industry and improving agricultural nutrients management rules, China will have a market share of 52.3% in the Asia Pacific region in 2022.
Key Market Players and Competition Summary: The fertilizer additives industry is highly concentrated, with several acquisitions and mergers taking place. The industry's major companies are concentrating their efforts on acquiring smaller competitors to increase their market share. Backward integration is also being used by significant firms to strengthen their position in the industry. Capacity expansion is also being considered by several significant companies. Large fertilizer companies are forming cooperative ventures to pursue unexplored market prospects.
The strategies undertaken by them include acquisitions, partnerships, new product development, and expansions. For example, in 2017, A&E Ag and LLC were acquired by Timac Agro USA. Timac Agro USA will continue to operate the LLC as an auxiliary. This acquisition aided the company's expansion by allowing it to engage in R&D. This purchase bolsters our worldwide growth strategy and demonstrates the teams' zeal and goals.
Key companies covered in the market study: Clariant AG, Arkema S.A, Dorf Ketal, ArrMaz, Timac Agro USA, Michelman, inc., Hubei Forbon Technology Co Ltd, Fertibon Products Pvt Ltd, Chemipol SA, and Neelam Aqua & Speciality Chem (P) Ltd.
Global Fertilizer Additives Market 2022-2030: Segmentation
By Product Type:
- Anti-caking Agents
- Dust Suppressors
- Drying Agents
- Granulation Agents
- Others
By Application:
- N(Nitrogen)
- P2O5
- K2O
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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