Global Fertilizer Additives Market - Growth, Trends, and Forecast (2020 - 2025)
|発行||Mordor Intelligence LLP||商品コード||354577|
|出版日||ページ情報||英文 164 Pages
|世界の肥料添加剤市場：成長、動向、および予測（2020年～2025年） Global Fertilizer Additives Market - Growth, Trends, and Forecast (2020 - 2025)|
|出版日: 2020年04月01日||ページ情報: 英文 164 Pages||
The fertilizer additive market is projected to grow at a CAGR of 3.5% during the forecast period (2019-2024). The increasing food demand and food security are one of the major factors driving the growth of the fertilizer additive market. The rising demand for urea is another factor that can drive the growth of the market. Also, technological innovations nowadays can act as an important factor augmenting the growth of the market studied.
Fertilizer additives are used for the improvement of the quality and the stability of the soil and fertilizer. It is also used to prevent the loss of nutrients like phosphorus, sulfur, nitrogen, and potassium from the soil and the environment. The market is segmented by type, function, form and geography.
Rising Demand for Urea is driving the market
Urea has the highest nitrogen content among all the solid fertilizers and is used widely as a major source of nitrogen for agricultural use. Also, the relative humidity of urea is high which makes it withstand the hot and humid conditions. Therefore, it is preferred to ammonium nitrate and calcium ammonium nitrate (CAN) and also has a rising demand in the market owing to its usage both in solid and liquid form. This further accelerates the growth of the fertilizer additive market.
Asia Pacific and North America dominates the market
The Asia Pacific holds a share of more than half in the global fertilizer additives market. China and India are major consumers of this product owing to the vast agricultural zones in these countries. Asia-Pacific is a latent region with investments coming from major players in the market. Furthermore, rising demand for agricultural products in countries, like the US, Canada, and Mexico in the North American region is projected to boost the fertilizer additives market during the forecast period. Additionally, the major key players are actively involved in the research & development in order to enhance the quality of fertilizer additives.
The fertilizer additive market has various small and medium-sized companies and a few big players, resulting in stiff competition in the market. The development of regional markets and local players in different parts of the world is the major factor for the fragmented nature of the market. North America and Asia-Pacific are the two regions showing maximum competitor activities.