Global Fertilizer Additives Market 2018-2022
About fertilizer additives
Fertilizer additives refer to materials that are included along with fertilizers to the prevent loss of essential nutrients including nitrogen, calcium, phosphorus, and potassium. The key factor driving the demand for fertilizer additives is the growing demand for fertilizers.
Technavio’s analysts forecast the global fertilizer additives market to grow at a CAGR of 2.68% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global fertilizer additives market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of fertilizers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fertilizer Additives Market 2018-2022
Technavio recognizes the following companies as the key players in the global fertilizer additives market: ArrMaz, Chemipol, Clariant, michelman, and Solvay.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing prominence of non-nutrition fertilizer additives. Non-nutrition additives are fertilizer additives that do not include essential elements associated with plant growth. However, non-nutrition additives aid in the delivery of nutrition along with other benefits pertaining to plant functions. The demand for non-nutrition additives is backed by the increasing demand for the application of organic fertilizers.”
According to the report, one of the major drivers for this market is the increasing popularity of nitrogen fertilizers. Nitrogen fertilizers are based on nitrogen chemical combinations. These are added to stimulate the growth of plants and offer numerous benefits including faster growth of plants, improved pasture quality, and increased crop yield. This will increase the need for nitrogen fertilizers during the next few years, positively affecting this market’s growth.
Further, the report states that one of the major factors hindering the growth of this market is the escalating prices of fertilizers. The increasing prices of fertilizers in different regions of the world have posed a major challenge to the growth of this market. In countries such as India, the fluctuating tax rate has already discouraged farmers to opt for fertilizers. The increase in the prices of fertilizers has led to an increase in retail prices of fertilizer additives, affecting market growth.