The fertilizer additive market is projected to be valued at USD 1,167.62 million in 2023. The market research report anticipates a growth of USD 1,761.88 million by 2033. The fertilizer additive sales are expected to record a CAGR of 4.20% during the forecast period.
Fertilizer Additive Market Trends and Highlights
Attributes | Key Insights |
---|---|
Fertilizer Additive Market Estimated Size in 2023 | USD 1,167.62 million |
Projected Market Value in 2033 | USD 1,761.88 million |
Value-based CAGR from 2023 to 2033 | 4.20% |
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The global demand for fertilizer additives is projected to increase at a CAGR of 4.20% during the forecast period between 2023 and 2033, reaching a total of USD 1,761.88 Million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 3.20%.
The fertilizer additives market has witnessed substantial growth from 2018 to 2022, typically attributed to consistent agricultural produce across key regions. With the increasing demand for food and associated products and depleting arable land, the demand for fertilizer additives will likely continue with strong prospects during 2023 to2033.
Fertilizer additions provide several advantages, including the ability to boost fertilizer production. The rising demand for primary nutrients and high-quality fertilizers has increased the demand for higher agricultural yields. These variables are expected to boost the demand for fertilizer additives during the forecast period.
Historical CAGR from 2018 to 2022 | 3.20% |
---|---|
Forecast CAGR from 2023 to 2033 | 4.20% |
Forecast CAGRs from 2023 to 2033
The United States | 2.60% |
---|---|
India | 7.90% |
France | 1.90% |
The United States has a well-established agriculture sector and is a significant market for fertilizer additives. Demand for fertilizer additives is driven by a combination of factors, including the need for improved nutrient efficiency, compliance with environmental regulations, and the desire to enhance crop yields.
The country has witnessed significant growth in the demand for fertilizers and fertilizer additives. Fertilizer additives were most commonly used as anti-caking agents in the United States due to variations in storage temperatures. The United States fertilizer additives market is anticipated to witness a CAGR of 2.60% by the end of 2033.
Fertilizer additives have had high demand in India since the agriculture industry,between 2023 and 2033, the government is expected to take significant initiatives to assist and expand the agriculture industry with proven farming technology and supporting legislation, which is expected to generate different prospects for fertilizer additive growth.
The Digital Agriculture Mission 2021–2025 intends to encourage and accelerate initiatives employing new technologies such as artificial intelligence (AI), blockchain, remote sensing, GIS technology, drones, and robots. The Indian government's plan is anticipated to boost agricultural output, reduce production costs, and prevent soil deterioration. All of these factors are expected to fuel the country's fertilizer additive industry. In terms of value, the market is expected to grow at a CAGR of 7.90% between 2023 and 2033
The growing agriculture industry, supported by suitable weather conditions and land availability, led to the vast production of multiple crops across the region. Abundant land availability and suitable weather conditions have facilitated the production of multiple crops in France. The country's government has set various regulations on the manufacturing and use of the product. For instance, the additive manufacturers must obtain the approval of the active ingredients from the commission before launching a product.
The fertilizer additives market in France is driven by technological innovations in the agricultural sector and growing awareness about the product's benefits. The growth of the urban population with the limited arable land area has played a huge role in the growth of the fertilizer additive market. France is expected to hold a CAGR of 1.90% for fertilizer additives in 2033.
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Category | Market Share |
---|---|
Anti-Caking Agent | 54.6% |
Nitrogen | 46.5% |
Anticaking agent is used as a fertilizer additive, which helps prevent the formation of lumps during storage. Owing to the formation of salt bridge and capillary adhesion, the caking process takes place in fertilizers during storage. There are various factors that lead to the formation of caking in fertilizers such as chemical composition of the fertilizer, moisture content, particle structure, temperature, pressure, storage time, and others.
Controlled storage, better packaging, and the addition of anticaking agents in fertilizers are the different methods used to prevent the caking process. The most effective one is the addition of an anticaking agent. The anticaking agents are made of powerful surfactants, surface tension modifiers, parting agents, and crystal habit modifiers. The anti-caking agent segment is expected to possess a 54.6% market share for the fertilizer additives market in the forecast period 2023 to 2033.
Nitrogen fertilizers are used across various crops, from staple grains like wheat and rice to high-value cash crops like vegetables and fruits. This application's versatility contributes to high demand. Among all additives, nitrogen-based products are considered highly important as nitrogen is a very crucial component for the growth of a plant.
Key players in the fertilizers additive market are Clariant AG, Arkema S.A, Dorf Ketal, ArrMaz, Timac Agro USA, Michelman, inc., Hubei Forbon Technology Co Ltd, Fertibon Products Pvt Ltd, Chemipol SA, Neelam Aqua & Speciality Chem (P) Ltd
The fertilizer additives market is consolidated, with a large number of acquisitions and mergers happening in the market. Key market players focus on grabbing the maximum share by acquiring smaller players. Also, key players are employing the strategy of backward integration to enhance their grip on the market.
Several key players are also looking at capacity expansion. Large fertilizer manufacturers are focusing on untapped market opportunities through joint ventures. Over the last few years, several expansions have been seen in the market, indicating increasing demand for fertilizer additives.
Key Developments
Attributes | Details |
---|---|
Estimated Market Size in 2023 | USD 1,167.62 million |
Projected Market Valuation in 2033 | USD 1,761.88 million |
Value-based CAGR 2023 to 2033 | 4.20% |
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | Value in USD billion |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
Key Market Segments Covered | Product, Application, Region |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
Key Companies Profiled | Clariant AG; Arkema S.A; Dorf Ketal; ArrMaz; Timac Agro USA; Michelman, inc.; Hubei Forbon Technology Co Ltd; Fertibon Products Pvt Ltd; Chemipol SA; Neelam Aqua & Speciality Chem (P) Ltd |
The fertilizer additive market is expected to reach USD 1,167.62 million in 2023.
The fertilizer additive market is set to expand by a CAGR of 4.20% by 2033.
The fertilizer additive market is forecast to reach USD 1,761.88 million by 2033.
A significant share of profits will likely come from the Industry in East Asia
Chemicals & Materials
September 2018
REP-GB-1559
196 pages
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