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(MoneyNewsWire.Net, September 06, 2017 ) The Global Fertilizer Additive Market is estimated at USD 2.57 billion in 2016 and estimated to be growing at a CAGR of 2.6%, to reach USD 2.92 billion by 2021. The Fertilizer Additives market continues to gain momentum with the increase in demand for fertilizers due to increasing pressure on global food production and development in technologies of fertilizer production.
Fertilizer Additives Market are chemicals added to the fertilizers to enhance their productivity. The demand for high agricultural yields are met with the subsequent demands for high quality fertilizers and primary nutrients, which in turn is responsible for the rise in the demand for the Fertilizer additives.
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The Research and development in the field of fertilizer manufacturing technology has resulted in evident growth of the fertilizer additives market. Other key factors driving the Fertilizer Additives Market include, rising demand for agricultural commodities, ease of application and handling of fertilizers and demand for higher yield crops. The Fertilizer additives market also faces some restraints and challenges. Some of these factors are, growth of organic fertilizer industry, environmental impact of chemical fertilizers, adverse effects of agrochemicals on human health and stringent government regulations.
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The Global Fertilizer Additives Market is segmented on the basis of function, application and form of application. Based on function, the market is segmented into Anticaking Agents, Dedusting Agents, Antifoaming Agents, Hydrophobic Agent, and Corrosion Inhibitors. Of these, Anticaking agents dominates the market in 2016 and is projected to grow at the highest CAGR among all sub segments. By application, the Fertilizer additives market is segmented under Urea, Ammonium Nitrate, Diammonium Phosphate, Monoammonium Phosphate, Ammonium Sulphate and Triple Super Phosphate. Similarly, on the basis of form of application, the market is segmented under Granular Fertilizers, Prilled Fertilizers and Powdered Fertilizers. Based on Application and form of application the market was dominated by urea and granular fertilizers respectively.
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On the basis of geography, the global Fertilizer Additives market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Fertilizer Additives market was dominated by Asia-Pacific, with the overall market share of over 40% globally. Asia-pacific was followed by North America. The reason behind the growth in these regions is the high rate of adoption of new technologies in fertilizer production.
Some of the major companies dominating the Fertilizer Additives market, by their products and services include Clariant, KAO Corporation, Novochem Group, Amit Trading Ltd., Arrmaz, Filtra Catalysts & Chemicals Ltd., Chemipol, Forbon Technology, Michelman, Tolsa Group.
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