Fertilizer Additives Market Future Revenues to Take Flight as Market Size Continues to Expand

Market drivers include a surge in the demand for agricultural commodities, ongoing research and development activities in fertilizer manufacturing technology

WILMINGTON, DELAWARE, UNITED STATES, February 22, 2024 /EINPresswire.com/ — Allied Market Research has recently released a report titled “Fertilizer Additives Market.” The global fertilizer additives industry reached a value of $3.2 billion in 2020, with an expected growth to $4.7 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 4.1% from 2021 to 2030.

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The market drivers include a surge in the demand for agricultural commodities, ongoing research and development activities in fertilizer manufacturing technology, and advancements in methods of fertilizer manufacturing, such as time-release encapsulation. However, the adoption of organic agriculture practices has restrained market growth. New opportunities include the implementation of nutrient management methods that optimize the utilization of on-farm nutrients and maintain soil health for successful crop production.

The COVID-19 pandemic has negatively impacted the market. According to the Organization for Economic Co-operation and Development (OECD), consumer demand for fertilizer additives declined, which led to lower production and prices. Lockdown restrictions also led to reduced operations in manufacturing facilities, disrupting the supply chain of fertilizer additives.

The granular form segment is expected to maintain its leading position by 2030, accounting for more than two-thirds of the global fertilizer additives market. The segment is projected to have the largest CAGR of 4.3% from 2021 to 2030. The anti-caking agents segment is expected to contribute the highest market share and exhibit the fastest CAGR of 4.6% during the forecast period.

The LAMEA (Latin America, Middle East, and Africa) region, followed by North America, is expected to have the fastest growth rate during the forecast period. LAMEA accounted for nearly three-fifths of the global fertilizer additives market in 2020 and is projected to continue its lead position by 2030. This growth can be attributed to the growth of agricultural industries, increased investments in the agricultural sector, and the use of modern technology in agriculture.

The major market players include ArrMaz Products Inc., CHEMIPOL, S.A., Clariant AG, Emulchem, KAO Corporation, LignoStar, Michelman Inc., Novochem Group, Solvay, and Tolsa SA.

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