Fertilizer additives are added to enhance the productivity of chemicals used in farming. The call for higher agricultural yields is met with the high demands for primary nutrients and high quality of fertilizers that in turn, is responsible for the rise in the call for the fertilizer additives. Furthermore, fertilizer additives enhance the quality and stability of fertilizers and soil, avoid loss of nutrients like nitrogen, phosphorus, potassium, and sulfur, and avoid corrosion of the container used for transportation. They also provide anti-foaming and anti-caking characteristics to the fertilizer.
The global Fertilizer Market was worth USD 2.71 billion in 2020 and expected to rise at a CAGR of 2.6% to reach USD 3.08 billion by 2025.
Market drivers and restraints:
Call for additives is on the rise to inhibit loss of essential nutrients like nitrogen, phosphorus, potassium, and sulfur. Furthermore, these additives are deployed throughout the storage and transportation of fertilizers to avoid the formation of caking, owing to fluctuating storage temperatures. In addition to that, these additives find improved usage to stop the creation of lumps in fertilizers throughout the rainy season due to increase or decrease of storage temperatures.
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Report segmented as:
Asia Pacific has a share of over 50% in the global fertilizer additives market. China and India are key consumers of this product due to the big agricultural zones in these countries. Agriculture is the primary occupation of India that is estimated to drive the fertilizer additive market here in the coming years.
Important market players:
Major players that are operating in the market are Clariant, KAO Corporation, Amit Trading Ltd., Novochem Group, Filtra Catalysts & Chemicals Ltd., Arrmaz, Chemipol, Forbon Technology, Michelman, Tolsa Group, Solvay, Calnetix Technologies LLC, Chemsol, British Sulphur, Cameron Chemicals, Lignotechagro, Europiren B.V, Golden Grain Group Limited, Rock Chemie Co., Volant Chem and Saudi Specialty Ind., and Chemical Co. Ltd.
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