Fertilizer Additives Market Set to Soar Past USD 8.92 Billion by 2030
The global Fertilizer Additives market size is expected to reach USD 8.92 billion by 2030 and exhibit a CAGR of 5.3% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing global population and food demand, rising need for higher agricultural productivity, growing adoption of precision farming practices, environmental concerns related to fertilizer usage, government regulations promoting sustainable agriculture, demand for nutrient-efficient fertilizers, advancements in fertilizer additive technologies, and expanding awareness about the benefits of fertilizer additives among farmers is fueling the market’s growth.
Westford,USA, Feb. 08, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Fertilizer Additives market, growing interest in sustainable and organic farming practices, increasing use of biostimulants and micronutrient additives, rising demand for controlled-release fertilizers, adoption of digital technology for precision nutrient management, development of customized fertilizer blends, and a shift towards environmentally friendly and eco-conscious fertilizer additives are the trends that aid in the market’s growth.
Browse in-depth TOC on “Fertilizer Additives Market”
- Pages – 157
- Tables – 61
- Figures – 75
A fertilizer additive is a substance that is added to a fertilizer to improve its performance, stability, or application. Fertilizer additives can be used to prevent caking, clumping, or dustiness, improve nutrient solubility, or extend the fertiliser’s shelf life.
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Prominent Players in Fertilizer Additives Market
- Dorf Ketal
- Koch Agronomic Services
- KAO Corporation
- Novochem Group
- OCI Nitrogen
Micronutrient Additives Demand to Grow Substantially in the Forecast Period
Micronutrient additives, such as iron, zinc, and copper, are crucial for addressing soil nutrient deficiencies. Their dominance in the market may be driven by the widespread need to correct specific micronutrient deficiencies in various regions. Additionally, the increasing awareness of micronutrient deficiencies in crops and their impact on food quality and nutrition can contribute to the demand for these additives.
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Granular Fertilizers are the Leading Application Segment
In terms of application, granular fertilizers are commonly used in conventional agriculture. They are easier to handle, store, and apply than other forms. This application segment may be driven by the continued use of conventional farming methods and the demand for additives that enhance the performance of granular fertilizers.
North America is the leading Market Due to the Increased Agricultural Productivity
Region-wise, North America is one of the largest growing markets with a huge demand for increased agricultural productivity. Many countries in this region have diverse agricultural practices, from small-scale traditional farming to large-scale commercial agriculture, creating a significant market for fertilizer additives. Governments in countries like India and China have launched initiatives to promote modern agriculture and enhance crop yields, which can boost the fertilizer additives market.
A recent report thoroughly analyzes the major players operating within the Fertilizer Additives market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Fertilizer Additives.
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Key Developments in the Fertilizer Additives Market
- In May 2023, EuroChem Group AG announced the launch of a new range of slow-release fertilizers for sustainable agriculture.
- In April 2023, Nutrien announced the acquisition of a controlling stake in Agrichem, a fertilizer and crop protection product provider.
- In March 2023, SQM announced an investment of $50 million in a new plant to produce speciality fertilizers.
Key Questions Answered in Fertilizer Additives Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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