The global fertilizer additives market is projected to reach
USD 3.94 billion by 2024, according to a new report by Grand View Research,
Inc. Growing fertilizer industry and shrinking arable land are projected to
drive the market over the forecast period.
Additives are added to fertilizers in order to inhibit the
loss of key nutrients such as nitrogen phosphorus, potassium, and sulfur, among
others. The additives, which are available in both, solid and liquid forms, are
used during storage and transportation of fertilizers.
Anti-caking was the most popular function of additives in
2015. Caking of fertilizers is one of the major problems faced by farmers,
retailers and manufacturers, particularly during rains. Change in storage
temperatures also results in caking. Additives are used to overcome these
challenges.
Global fertilizer consumption market, by region, 2015
Browse full research
report on Fertilizer Additives Market: http://www.grandviewresearch.com/industry-analysis/fertilizer-additives-market
Further key findings from the study suggest:
- Urea
dominated the end product segment in 2015 with a share of 55.6%. it is
widely used globally, since it contains the highest amount of nitrogen
among all fertilizers. Factors such as shrinking arable land have
increased the importance of products such as urea and ammonium nitrate,
which help in cultivation in a short span of time, in limited available
land.
- Anti-caking
dominated the function segment in 2015. This segment is projected to grow
at the highest CAGR of 3.7 over the forecast period. Additives are used to
avoid the formation of lumps in fertilizers, enabling safe storage and
transportation.
- Asia Pacific
led the global market with a share of 58.8% in 2015. This region is home
to some of the emerging countries such as China and India. The market in
India, where, agriculture is the primary occupation, is projected to drive
the market from 2016 to 2024.
- The weather
in this part of the world gets hot and humid during summer, which can lead
to caking and loss of essential nutrients in fertilizers. Thus, additives
are expected to play an important role in maintaining the quality of
fertilizers in this region.
- Clariant, KAO
Corporation, Novochem Group, and ChemSol, LLC are some of the key
manufacturers of additives. Other players include Filtra Catalysts &
Chemicals Ltd., Solvay, Arrmaz, Chemipol, Forbon Technology, Michelman,
Tolsa Group, and Amit Trading Ltd.
- The companies
adopted various development strategies such as new product developments,
expansions, mergers & acquisitions, and agreements, partnerships,
& joint ventures to establish themselves as market leaders and expand
their global reach.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-fertilizer-additives-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment