Fertilizer Additives Market to Garner $4.7 Billion, Globally, By 2030 at 4.1% CAGR, Says Allied Market Research
Drivers, Restraints, and Opportunities
Surge in demand for agricultural commodities, ongoing R&D activities of fertilizer manufacturing technology, and advancements in fertilizer manufacturing methods including the time-release encapsulation drive the growth of the global fertilizer additives market. However, the adoption of organic agriculture practices restrains the market growth. On the other hand, the implementation of nutrient management methods that effectively optimizes the utilization of on-farm nutrients and maintains health of the soil for successful crop production presents new opportunities in the coming years.
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Covid-19 Scenario
The granular segment to maintain its lead position by 2030
Based on form, the granular segment accounted for the highest share in 2020, holding more than two-thirds of the global fertilizer additives market, and is projected to maintain its lead position by 2030. Moreover, this segment is projected to manifest the largest CAGR of 4.3% from 2021 to 2030. This is attributed to assistance to farmers in evaluating the quality of the fertilizer and protection from the external environment to enhance shelf life. The report also analyzes the segments including prilled and powdered.
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The anti-caking agents segment to present lucrative opportunities
Based on type, the anti-caking agents segment contributed to the highest market share in 2020, accounting for nearly one-third of the global fertilizer additives market, and is expected to maintain its dominance in terms of revenue throughout the forecast period. Moreover, this segment is projected to manifest the fastest CAGR of 4.6% from 2021 to 2030. This is attributed to prevention of the formation of lumps and caking during the storage of fertilizer additives and ensuring quality. The research also discusses segments including antifoam agents, dust control coatings, coloring agents, granulation aids, corrosion inhibitors, hydrophobic additives, and others.
LAMEA, followed by North America, to register the fastest growth rate
Based on region, LAMEA, followed by North America, is projected to register the fastest CAGR of 4.5% during the forecast period. Moreover, this segment contributed to the highest market share in terms of revenue in 2020, accounting for nearly three-fifths of the global fertilizer additives market, and is projected to continue its lead position by 2030. This is due to the growth of agricultural industries, increase in investments in the agricultural sector, usage of modern technology in agriculture, and discovery of new applications of fertilizer additives. The report also analyzes regions including Asia-Pacific and Europe.
Major Market Players
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