The global fertilizer additives market is projected to reach USD 2.91 billion by 2021, at a CAGR of 2.6% from 2016 to 2021. Fertilizer additives increase the quality and integrity of the fertilizer during storage, transportation, and application. With the increase in demand for fertilizers, fertilizer additives are achieving significant growth in the market.
- Rising demand for agricultural commodities
- R&D in fertilizer manufacturing technology
- Ease of application and handling of fertilizers
- Growth of the organic fertilizers industry
- Environmental impact of chemical fertilizers
- Growth potential in emerging markets
- Adverse health effects of agrochemicals on human health
- The imposition of stringent regulations
The fertilizer additives market, based on function, has been segmented into anticaking agent, dedusting agent, antifoam agent, hydrophobic agent, corrosion inhibitors, and others (porozing agents and coloring agents). The anticaking agent segment dominated the global fertilizer additives market in 2015. This is attributed to the fact that caking is the most common problem faced by the manufacturers and distributors of fertilizers. Since most fertilizers are used in granular, prilled, or powdered form, they tend to develop caking during transportation and storage.
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Fertilizer additives are mainly used in granular form. Granular fertilizers have a very beneficial effect on plant growth; they help regulate the release of nutrients, help to prevent the washing away of fertilizer salts, and make NPK application uniform. Poor storage conditions and long storage without conditioning result in the formation of lumps and powder, as a result of which the benefits of granulation are largely lost by non-uniform application. The prilled fertilizers segment is projected to grow at the highest CAGR during the forecast period, since they are more susceptible to damage when handling.
The fertilizer additives market in developing regions such as Latin America and Asia-Pacific are growing at a significant rate. The presence of major fertilizer manufacturing plants is driving the fertilizer additives market in these regions. Asia-Pacific has traditionally been a major producer of fertilizers. Decreasing per capita arable land, increasing population, and climatic changes are the key drivers for the growth of the fertilizer market in this region. Latin American countries such as Brazil and Argentina are in the process of becoming global agriculture hubs. The key players in the fertilizer industry are establishing their manufacturing plants in these countries to save costs; as a result, there is an increased demand of fertilizer additives in this region.
Key players in the fertilizer additives market include Clairant (Switzerland), KAO Corporation (Japan), and Novochem Group (Netherlands), and ArrMaz (U.S.). Other players, which include Filtra Catalysts & Chemicals Ltd. (India), Amit Trading LTD. (Israel), Chemipol (Spain), and Forbon Technology (China), also have a strong position in the global fertilizer additives market.
Strategic expansions and new product developments were the core strengths of the leading players in this market. These core strengths helped the players to diversify their businesses geographically and strengthen distribution networks. Market leaders such as Clairant (Switzerland), KAO Corporation (Japan), and Novochem Group (Netherlands) have successfully tapped the potential markets through expansions and acquisitions. These companies are focused on offering a wide range of innovative products for various applications to cater to the large customer base across the world.
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Product innovation is a critical success factor in this market, with participants frequently filing patents to increase or preserve their market share. The market for fertilizer additives is shifting towards multifunctional additives. As a result, the competition between companies to launch an additive with multiple functionalities, decreases the total requirement for additives.
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