Fertilizer Additives Market to Expand 1.5X by 2030; Reduced Fertilizer Production during COVD-19 Pandemic Impeding Market Growth, Says Fact.MR
Lowered prices of agricultural products over the 3rd quarter has declined the demand for fertilizer additives in Europe and North America.
Fertilizer additives are utilized in pre-packaging to ensure the quality of the final product. Fertilizer additives are added to fertilizers to ease the packaging, flowability, and transportation of fertilizers.
The global fertilizer additives market is forecast to witness moderate growth of 4.4% over the forecast period of 2020-2030. Growth in demand for fertilizer additives is largely credited to the growing fertilizer industry, which has expanded 2X over the past half-decade. Prices of fertilizer additives have also grown by 2% at a nominal rate over the past half-decade. However, the recent downfall in the market can largely be attributed to the COVID-19 pandemic and associated dip in aggregate demand of the product. Reopening of the fertilizer industry has kick-started the production of fertilizer additives. According to Fact.MR estimates, the market is set to reach its original growth rate by the end of the 2nd quarter of FY2021.
Key Takeaways from Global Fertilizer Additives Market Study
- The global fertilizer additives market is anticipated to create a value opportunity of around US$ 500 Mn during the forecast period, adding 1.5X more value as compared to 2019.
- APEJ will account for more than 38% of the global fertilizer additives market by the end of the 2030, in terms of value.
- Anti-caking agents is the most promising segment, and is projected to gain more than 2% over the period of 2020-2030, owing to their extensive utilization in the fertilizer industry.
- Drying agents are set to lose 40 BPS by the end of the forecast period, whereas, the granulation segment is set to maintain its pace through 2030.
- Western and Eastern Europe together account for nearly a quarter of the global fertilizer additives market share.
- The COVID-19 pandemic has put the brakes on the growth of the global fertilizer additives market, with normal growth expected to resume in Q2 of 2021.
“Low cost of production will encourage new players into the fertilizer additives market space, leading to normalization of priced by the mid-term forecast period,” says a Fact.MR analyst.
Promising Market to Encourage New Entrants, Owing to Low Cost of Production
The fertilizer additives market is moderately consolidated in nature, occupied by key players such as Arkema S.A, ArrMaz, Chemipol S.A, Clariant AG, Dorf Ketal, Fertibon Products Pvt. Ltd., Hubei Forbon Technology Co Ltd, Michelman, Inc., Neelam Aqua & Speciality Chem (P) Ltd., and Timac Agro USA. Probability of new market entrants is above 70%, owing to the low cost of production and rising demand for fertilizer additives, which will bolster prices during 2020 to 2030.
More Valuable Insights on Fertilizer Additives Market
Fact.MR, in its new offering, presents an unbiased analysis of the global fertilizer additives market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the fertilizer additives market on the basis of type (anti-caking agents, drying agents, dust suppressors, and granulation additives) and application (nitrogen, phosphorous pentoxide and potassium oxide), and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific Excluding Japan, and the Middle East & Africa).
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