Published Date : 07 Apr 2023
By 2032, the global fertilizer additives market size is expected to reachUSD 2.06 billion by 2032, representing a 5.82% CAGR from 2023 to 2032. The fertilizer additives market was valued for USD 1.17 billion in 2022
An injection of chemicals known as fertilizer is made into the soil to provide vital nutrients for crop growth. The two most popular forms of fertilizers are the organic and inorganic varieties. Organic fertilizers are produced using sewage sludge with carbon content, farm waste, livestock manure, industrial waste, and agricultural waste. However, the production of their inorganic counterparts necessitates the use of several chemicals and extra nutrients. They are a rich source of potassium, nitrogen, phosphorus, and other nutrients needed for sustainable food production and good crop output, and they are primarily used to replenish specific soil constituents that are deficient in the soil.
In addition, they increase the soil's ability to retain its fertility and store water. To transfer the appropriate traits based on climate, soil type, and crop type across geographical boundaries. These formulations employ a special combination of fertilizer additives. The ability of the product to prevent the oxidation of vital nutrients like phosphorus, sulfur, potassium, and nitrogen. Increased awareness of soil degradation brought on by traditional agricultural practices and a lack of agricultural land are the two main factors affecting fertilizer sales globally.
Government organizations from various regions intend to use a variety of resources to educate farmers about the benefits of fertilizer additives and persuade them to adopt value-added fertilizers due to the rapid rise in environmental consciousness caused by greenhouse gas emissions.
Fertilizer Additives Market Report Scope:
|Market Size in 2022||USD 1.17 Billion|
|Projected Forecast Value in 2032||USD 2.06 Billion|
|Growth Rate||5.82% from 2023 to 2032|
|Largest Market||Asia Pacific|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
From 2023 to 2032, the Asia Pacific region is expected to experience the highest CAGR for growth. The agricultural sector's growth in developing countries like China and India is primarily responsible for the expansion. The agricultural sector has a significant impact on the GDP of countries like China and India. Farmers are under more pressure to produce more food because there is currently less land that can be used for farming. Due to the rise in demand for fertilizers, these factors have boosted the market for additives. China's agriculture sector has made strides and advanced technologically over the past few years.
On the other hand, the rising demand for agricultural products in North American countries like the United States, Canada, and Mexico is expected to cause the market for fertilizer additives to grow throughout the forecast period. The US ranks second globally in the production of phosphate and is the world's fourth-largest producer of nitrogen fertilizers.
The US controls the majority of the world's phosphorus production and exports, and it also establishes guidelines for fertilizer additions in North America. The demand for fertilizers and, consequently, fertilizer additives has grown significantly in the nation. Anti-caking additives were the most frequently used fertilizer additives in the US due to the wide range of storage temperatures.
The urea market is growing
Growing global demand for urea-based fertilizers is one of the primary drivers of the market's expansion. For instance, the International Fertilizers Association (IFASTAT) reports that the total amount of urea consumed worldwide increased from 51,141.0 thousand metric tons in 2017 to 52,258.9 thousand metric tons in 2019. Since urea has the highest nitrogen content of any solid fertilizer, it is by far the most widely used and significant source of nitrogen for agricultural use. Additionally, urea has a high relative humidity, which helps it withstand hot and humid conditions. It is preferred over ammonium nitrate and calcium ammonium nitrate (CAN) because it can be used in both solid and liquid forms, and its demand is increasing in the market.
Chemical fertilizers' effects on the environment
The amount of nutrients in the soil decreases over time as crop plants are harvested. Then, these nutrients are replenished either naturally through decomposition or the use of fertilizer. As a result, fertilizer is a crucial part of contemporary agriculture. Although chemical fertilizers are largely responsible for the world's sufficient crop production, their excessive use is posing serious problems for both the present and the next generation, including air, water, and soil pollution, degraded lands, depleted soils, and increased greenhouse gas emissions. These artificial fertilizers are becoming dangerous not only for our environment but also for people, animals, and microscopic life.
Utilizing and handling fertilizers is becoming simpler
By making the fertilizers' granules harder and more durable, fertilizer additives offer a long-term solution to fertilizer additives. A lot of fertilizers are sold as granular or powdered goods. In fertilizer caking and lump formation could consequently result in product loss. To avoid this, fertilizer additives like anti-caking agents make it simpler to apply and handle fertilizers during storage, consumption, and transportation while also preventing fertilizers from caking and lumping. The market is expanding as a result of the addition of fertilizer additives because fertilizers are now easier to handle and apply.
The cost of raw materials is excessive
There has been a lot of recent research on fertilizer additives using novel materials. However, the industrial-scale production of fertilizer additives is constrained due to the high cost of raw materials. The rising cost of raw materials may therefore limit market growth during the anticipated period. Transport network failures on the national and international levels hurt crop producers by limiting their access to intermediate inputs like fertilizers and lowering the demand for fertilizer additives. The ability to increase fertilizer output is just one of the advantages of fertilizer additives.
Major Key Players:
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