Fertilizer Additives Market
Fertilizer Additives Market Analysis By Type (Anti-caking Agents, Dust Suppressors, Drying Agents, Granulating Agents), By Application (Nitrogen, Phosphorous Pentoxide, Potassium Oxide), By Region (North America, Europe, Asia Pacific) - Global Insights to 2030
Global Fertilizer Additives Market Outlook
The global fertilizer additives market has witnessed a moderate growth rate at a CAGR of 3.2% over the past half-decade. However, the ongoing COVID-19 outbreak, especially in South Asia & Oceania and North America, has effected the movement of people, cascading the effect towards the fertilizer additives market.
Lowered prices of agricultural products over the 3rd quarter has declined the demand for fertilizer additives in Europe and North America. Growth rate of the market could be analyzed with respect to the nominal growing and mature agricultural chemicals demand.
Decline in the prices of fertilizer additives in the beginning of the 2nd quarter of FY2020 has been observed, owing to decline in production across regions. In the 3rd quarter of FY2020, production of fertilizers in Europe and East Asia has started gaining momentum, providing a thrust to the expansion of the fertilizer additives market size.
Growth in demand will also result in the normalization of prices. By the end of the 3rd quarter of FY2020, the market is set to gain pace and the price trend is set to go up over a quarter, and then settle down by the mid first quarter of FY2021.
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Fertilizer Additives Market Product Type Insights
Anti-caking fertilizer additives are extensively utilized for maintaining the surface area of the fertilizers produced. Most fertilizers being stored in controlled temperatures catch moisture and coagulate forming clumps. Therefore, utilization of anti-caking additives is set to thrive in the fertilizer additives market.
Silicon dioxide, iron ammonium citrate, and yellow prussiate of soda are the potent anti-caking agents used in fertilizer additives. Demand for anti-caking agents has been fluctuating since the past half-decade, owing to their negative affects on crops and end-use consumers.
By the mid-term forecast period, cheaper natural substitutes are expected to penetrate the market, closing the doors for conventionally used fertilizer additives
Apart from anti-caking agents, drying agents, dust suppressors, and granulation additives also play a major role in driving the growth of the fertilizer additives market.
Fertilizer Additives Market Application Insights
Demand for fertilizer additives has drastically risen over the past half-decade, owing to increased utilization of fertilizers to ensure the quality of the product. Majority of fertilizer additive applications lie in pre-packaging in the industry to ensure the quality of the product. Fertilizer additives reduce the cost of inventory owing to their function of anti-caking and drying. Different fertilizer additives are added for different purposes in various atmosphere ranges. For instance, for fertilizers manufactured in humid regions, the tendency is to utilize anti-caking and drying agents.
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Regional Outlook of Fertilizer Additives Market
North America accounted for the largest fertilizer additives market share over the past half-decade, but will lose some of its share, with APEJ leading the market in the coming years. This is mainly due to increased utilization of natural fertilizer additives over synthetic chemical fertilizers. Moreover, the rapid growing fertilizer industry in APEJ is set to drive the global fertilizer additives market.
However, the COVID-19 pandemic has declined the demand for fertilizer additives across regions, owing to a recession-like situation in the U.S. and Japan.
Fertilizer Additives Market Manufacturers: Key Strategies
The global fertilizer additives market is fairly consolidated in nature. Arkema S.A, ArrMaz, Chemipol S.A, Clariant AG, and Dorf Ketal are among the tier 1-players. According to Fact.MR estimates, together, these companies are projected to account for more than 30% of the global market share in 2020. Key manufacturers are observed to be involved in research & development, and collaborating with key fertilizer manufacturers to enhance their market share.
Key companies in the fertilizer additives market are involved in the organic market approach and are keenly looking to expand their product portfolios of fertilizer additives.
The Analyst’s Viewpoint
“Collaborating with fertilizer manufactures under a two-part tariff to ensure long-term profits is a key strategy of manufacturers in the fertilizer additives market space”.
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COVID-19 Impact on Fertilizer Additives Market
The coronavirus pandemic has brought the whole world to a standstill. Business activities have registered a downturn in the form of dwindling sales due to reduced production and demand. The same is true for the fertilizer additives market. A prominent end use of fertilizer additives is fertilizer application. The ongoing pandemic has led to a decline in all industrial activities, in the wake of disrupted supply chains.
Extended lockdowns across countries have nullified the production of fertilizer additives for the past few months, as key manufacturing units and factories are shut. Even after these lockdowns are lifted, it will take at least a couple of quarters to restore production to normal. Thus, contracting demand from allied industries in the second quarter of 2020 will have prolonged effects on the global fertilizer additives market.
Fertilizer Additives Market: About the Report
Fact.MR published an exclusive forecast report on the fertilizer additives market for 2020 and 2030. The foremost objective of this report on the fertilizer additives market is to pitch spearhead insights on the market scenario, demand generators and technological advancements in the market. Also, the study on the fertilizer additives market addresses key dynamics that are expected to diversify the sales and future prominence of the fertilizer additives market.
The report on the fertilizer additives market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the fertilizer additives market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the fertilizer additives market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for fertilizer additives.
Supply chain analysis and pricing analysis of the fertilizer additives market, along with the difference between fertilizer additives used as per application, has also been included in the report to help readers clearly understand the product framework map of the global fertilizer additives market.
Fertilizer Additives Market: Segmentation
Fact.MR has studied the fertilizer additives market with detailed segmentation on the basis of type, application, and key regions.
- Anti-caking Agents
- Dust Suppressors
- Drying Agents
- Granulating Agents
- Phosphorous Pentoxide
- Potassium Oxide
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific Excluding Japan
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
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