Fertilizer Additives Market In-depth Analysis By Function, By End Product And Trend to 2024

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Fertilizer Additives Market: In-depth Analysis By
Function, By End Product And Trend to 2024
The global fertilizer additives market is projected to reach USD 3.94 billion by 2024. 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.
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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.
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Further key findings from the report 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.
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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.
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The global fertilizer additives market is projected to reach USD 3.94 billion by 2024. Clariant, KAO Corporation, Novochem Group, and ChemSol, LLC are some of the key manufacturers of additives.