Mar 08, 2021
Limestone to Remain Most Widely Used Ingredient in Fertilizer Fillers with Over 50% Market Share, Projects Fact.MR
by Team Fact.MR
Demand for fillers from the fertilizer industry has been increasing steadily over the years. Limestone, as an ingredient, has witnessed robust demand for use in fertilizers in the regions of Asia Pacific and North-America. Players in these regions are extracting limestone from mineral mines and processing it into various sizes according to the requirements of end-use fertilizers.
As per Fact.MR’s report, the fertilizer fillers market reached a valuation of US$ 981 in 2020, and projected to expand at a CAGR of around 5% through 2031. During the year 2020, the market witnessed decreasing demand due to the COVID-19 outbreak, especially from Asia Pacific and North-America. However, 2021 and ahead looks brighter, with the growth trajectory of the market expected to resume to normal levels.
Key Takeaways from Study
- The fertilizer fillers market is anticipated to add 1.6X value by 2031 as compared to 2021.
- East Asia is set to dominate market revenue, and is expected to gain 376 BPS in its market share by 2031.
- Considering ingredients, sand is anticipated to gain around 111 BPS over the forecast period of 2021-2031, with limestone losing around 12 BPS by 2031
- The market in the China is projected to expand at a CAGR of over 7% through 2031.
- Micronutrients, under filler type, captures a major chunk of the market, and this segment projected to expand at a CAGR of over 5% over the long-run forecast period.
- Due to the COVID-19 crisis, demand for fertilizer fillers was hit in 2020, which saw decline of 1.1%. The year 2021 is expected to witness growth of over 4%.
“Increasing consumption of fertilizers in the agricultural sector across geographies is expected to boost consumption of fillers throughout the forecast period,” says a Fact.MR analyst.
Who is Set to Hold the Market Throne?
The global fertilizer fillers market is highly fragmented in nature. Regional fertilizer end users are driving growth of the fillers market by increasing the consumption of fertilizers. Players such as CF Industries Holdings, Yara International, The Mosaic Company, and other regional players are adopting fillers to expand their market share in the fertilizer industry. This is set to enhance the stance of fertilizer filler stakeholders over the coming years.
Players such as Keegan quarries, Rohrers, GLC Minerals, and Petelien & Sons are increasing the extraction of fillers to fill the demand-supply gap in the market. Key players are following different growth strategies to maintain their market position, has been detailed in the recently published report by Fact.MR.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global fertilizer fillers market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of filler type (micronutrients and secondary nutrients), mesh size (5-10, 10-20, 20-50, 50-100, and above 100), ingredient type (sand, limestone, clay, and others), function (anti-caking, micronutrient binders, colorants, defoamers, and dust suppressants), and application (organic fertilizers and chemical fertilizers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Chemicals & Materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the Chemicals & Materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant – Chemicals & Materials Division
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