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Fertilizer Additives Global Market Report 2022
Major players in the fertilizer additives market are KAO Corporation, Novochem Group, Clariant, Solvay, Filtra Catalysts & Chemicals Ltd. , ArrMaz, Chemipol, Forbon Technology, Michelman, Inc. , Tolsa Group, Dorf Ketal, Corteva Agriscience, BASF SE, Holland Novochem BV, and Hubei Forbon Technology Co.
New York, June 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fertilizer Additives Global Market Report 2022" - https://www.reportlinker.com/p06286068/?utm_source=GNW
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The global fertilizer additives market is expected to grow from $2.73 billion in 2021 to $2.85 billion in 2022 at a compound annual growth rate (CAGR) of 4.32%. The fertilizer additives market is expected to reach $3.24 billion in 2026 at a CAGR of 3.30%.
The fertilizer additives market consists of sales of fertilizer additive products by entities (organization, partnership, sole-traders) that are type of chemical additives or materials that are mixed with fertilizers such as urea, ammonium nitrate, calcium ammonium nitrate, and others to improve the quality and performance of fertilizers.It is also used to prevent the loss of important macro and micronutrients including nitrogen, phosphorus, potassium, calcium, manganese, and iron from soil as well as environment.
Farmers widely use it to develop healthy, nutrient-dense crops and ensure soil fertility for the long run.
The main types of fertilizer additives include dust control agents, anti-caking agents, anti-foam agents, granulation agents, colorants, corrosion Inhibitors, and hydrophobing agents.The dust control refers to an ecological agent that is used to solidify and stabilize any soil.
This system is implemented to reduce or eliminate dust emissions from activities that cause erosion by generating airborne and fugitive dust. Based on form they are differentiated into powdered, granular and prilled and they are used in manufacturing of urea, ammonium nitrate, diammonium nitrate, monoammonium nitrate, ammonium sulphate, triple superphosphate, and other applications.
North America was the largest region in the fertilizer additives market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the fertilizer additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rising demand for agricultural commodities is driving the growth of fertilizer additives market.Agricultural commodities are staple crops and animals raised on farms or plantations.
In agricultural commodities production activities, fertilizer additives are used to enhance the performance and controlled application of fertilizer.For instance, according to the data published in Organisation for Economic Co-operation and Development, the global agricultural production is expected to increase from 766 million tons in 2020 to 839 million tons in 2030.
The increase in demand and production of agricultural commodities is expected to boost demand for fertilizer additives during forecast period.
The adoption of new technologies is a key trend gaining popularity in the fertilizer additives market.The companies operating in fertilizer additives market are utilizing ammonia technology, urea formaldehyde concentrate technology and nanotechnology in their product development and manufacturing process to reduce their carbon footproint and shift towards environmental-freindly manufacturing process.
For instance, in May 2021, Stamicarbon has announced the introduction of Stami Green Ammonia Technology as a solution to the world carbon problem. To eliminate carbon from the process, the technique uses renewable resources rather of fossil fuels, paving the door for sustainable and green fertilizer production.
In September 2021, Yara Suomi Oy, a Finland-based manufacturer of fertilizer acquired Ecolan Oy, a Finalnd-based provider of fertilizer and its additives for an undisclosed amount. Through this acquistion Yara Suomi Oy will be able to improve nutrient use efficiency in organic farming segment by capitalizing on our deep crop nutrition knowledge from Ecolan Oy.
The countries covered in the fertilizer additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06286068/?utm_source=GNW
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