Fertilizer Additives Market Size and Share Analysis: Exploring Growth Drivers in Agricultural Sector

The fertilizer additives market size has grown strongly in recent years. It will grow from $3.09 billion in 2023 to $3.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to soil nutrient depletion, agricultural productivity, environmental regulations, crop-specific solutions, fertilizer efficiency.

The fertilizer additives market size is expected to see strong growth in the next few years. It will grow to $4.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to precision agriculture, climate change adaptation, organic farming and organic additives, bio-based and biodegradable additives, customized nutrient blends. Major trends in the forecast period include controlled-release fertilizers, nutrient stabilizers, nano and micronutrient additives, data-driven farming, adoption of sustainable packaging.

Market Overview -
Fertilizer additives are a type of chemical additive or material that is mixed with fertilizers such as urea, ammonium nitrate, calcium ammonium nitrate, and others to improve the quality and performance of the fertilizers. It is also used to prevent the loss of important macro- and micronutrients, including nitrogen, phosphorus, potassium, calcium, manganese, and iron, from soil and the environment. Farmers widely use it to develop healthy, nutrient-dense crops and ensure soil fertility in the long run.

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Growing Agricultural Commodity Demand Fuels Fertilizer Additives Market Expansion
Rise in demand for agricultural commodities is driving the growth of the fertilizer additives market. Agricultural commodities are staple crops and animals raised on farms or plantations. In agricultural commodity production activities, fertilizer additives are used to enhance the performance and control the application of fertilizer. For instance, according to the data published in Organization 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 the forecast period.

Competitive Landscape -
Major companies operating in the fertilizer additives market include KAO Corporation, Clariant AG, Filtra Catalysts & Chemicals Ltd., Novochem Group, Solvay SA, Agrium Inc., Bio Huma Netics Inc., Bunge Limited, Compass Minerals, Compo Expert GmbH, Fertilizer Industry Round Table, Haifa Group, Helena Agri-Enterprises, Israel Chemicals Ltd., Kali und Salz GmbH, Kingenta Ecological Engineering Group, Koch Industries Inc., Lamberti Group, Nufarm Ltd., Nutra-Flo Company, Nutrien Ltd., Plant Food Company Inc., Soil Technologies Corporation, Sociedad Química y Minera de Chile, Stoller Enterprises Ltd., The Andersons Inc., Timac Agro USA, Tradecorp International, UPL Limited, Valagro SpA, Verdesian Life Sciences LLC, Wilbur-Ellis Company, Yara International ASA

Adoption Of Sustainable Technologies In Fertilizer Additives
The adoption of new technologies is a key trend gaining popularity in the fertilizer additive market. The companies operating in the fertilizer additives market are utilizing ammonia technology, urea formaldehyde concentrate technology, and nanotechnology in their product development and manufacturing processes to reduce their carbon footprint and shift towards environmentally friendly manufacturing processes. For instance, in May 2021, Stamicarbon 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 instead of fossil fuels, paving the way for sustainable and green fertilizer production.

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Key Segments -

The fertilizer additives market covered in this report is segmented -

1) By Type: Dust Control Agent, Anti-Caking Agent, Anti-foam Agents, Granulation Aids, Colorants, Corrosion Inhibitors, Hydrophobing Agents
2) By Form: Granular, Prilled, Powdered
3) By Application: Urea, Ammonium nitrate, Diammonium phosphate, Monoammonium phosphate, Ammonium sulfate, Triple superphosphate, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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